The term 'Parts of a Dollar Bill' can refer to the different components that make up a United States dollar bill. The most common component is the CENTS, which is a five-letter word. CENTS are the smallest unit of currency in the US and are represented by coins. They are divided into 100 parts, with each part being worth one cent. Other components of a dollar bill include the dollar sign, the serial number, the Treasury seal, and the Federal Reserve Bank seal.