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The official currency of the United States, as well as several other nations, is the United States dollar (denoted by the symbol $, with the currency code USD). It is sometimes shortened to US$ to distinguish it from other dollar-based currencies and is commonly referred to as the U.S. dollar, American dollar, or simply the dollar. Colloquially, it is also known as the buck. The U.S. dollar was established under the Coinage Act of 1792, which pegged its value to the Spanish silver dollar, divided it into 100 cents, and permitted the minting of coins in both dollars and cents. Today, U.S. paper currency is issued in the form of Federal Reserve Notes, often referred to as greenbacks due to the predominantly green color of the notes.