You touch it on a daily basis, carry it around with you everywhere you go, and some even say it makes the world go ’round. We’re talking about money, of course, and there’s probably a lot about it that you don’t already know. Here are six little-known facts unique to those rumbled bills and spare change in your piggy bank at Meetinghouse.
1. Have you ever come in contact with the legendary $100,000 bill? Probably not. This note, printed from December 1934 through January 1935, was used exclusively by Federal Reserve Banks and sported the face of President Woodrow Wilson. The fact that this bill wasn’t in circulation among the general public is probably a good thing. Can you imagine losing your wallet—and $100K—in one fell swoop?
2. Do you have a ripped bill in your possession? Don’t trash it! As long as you have more than 51% of the ripped note, The Office of Currency Standards will swap it out for a new one.
3. A long time ago, before the advent of paper money, elk and deer were used instead of cash. Hence the name “buck” for a dollar bill.
4. Paper money is made from linen and cotton. It takes 4,000 creases to cause a rip in this considerably durable fabric, which isn’t actually paper at all! That said, the $100 bill greatly outlives the $1 bill. Their average lifespans are nine years and 22 months, respectively, according to the Federal Reserve System.
5. Many people believe that the $2 bill is rare, but this particular bill is, in fact, still in production. It’s just not printed as frequently as $1, $5, $10, $20, $50, and $100 denominations.
10 Surprising Facts About The Dollar Bill And U.S. Currency [Huff Post Money]
Resource Center: Denominations [U.S. Department of the Treasury]
