Every day, we use money, unfolding folded dollars and rummaging for coins. But how much do you truly know about money, other than the occasional peek at a new quarter? Are you aware of which cities have their own currency? Do you know the value of a $2 bill? But what does money have to do with the Secret Service? Make sure no one is following you and continue reading to learn 10 things about money you probably don't know and a digital saving jar is one of them.
In 1787, Renaissance nerd Benjamin Franklin developed the first US cent. It was imprinted with the slogan "MIND YOUR BUSINESS" instead of E PLURIBUS UNUM.
Your money's eagle can have a name. From 1830 to 1836, a particular bird swooped into the United States Mint building so frequently that workers dubbed him "Peter the Mint Eagle," cared for him, and purportedly used him as a template for coin engravings for years.
Paper money in the United States is made up of 75% cotton and 25% linen. Torn bills were repaired with a needle and thread in Ben Franklin's day.
A banknote will tear after around 4,000 double folds (first forward, then backward). A vending machine will reject your bill with considerably fewer folds—but you can solve that by tossing your Washington in the microwave for about 20 seconds to crisp it up.
It takes 9 tonnes of ink to print new currency each and every day. Every day, the United States Bureau of Engraving and Printing uses about 9 tonnes of ink to produce 26 million currency notes with a face value of $974 million.
The edge of a quarter contains 119 grooves, while the edge of a dime has 118. The grooves were intended to prevent coin faces from being scraped off and sold as precious metals.
Between a third and half of all cash in circulation after the Civil War was counterfeit. On July 5, 1865, the United States Secret Service was established to combat the counterfeiting plague.
Does this fact seem exciting to you? Yes? Do you need to keep someone occupied for an extended period of time? In 293 different ways, you can spend a dollar. There are many different ways you can go about spending a dollar.
Bill's death is more common than you might expect. The $10 bill has the lowest longevity of all our bills, lasting roughly 4.5 years. The $100 dollar, our longest-lasting banknote, lasts only 15 years.
The $100,000 Gold Certificate was the largest note ever created (printed from December 1934 through January 1935.) They were solely used in transactions between the Federal Reserve Banks and the Treasury Department.
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