Wednesday, September 11, 2013
How much you know about the dollar, or our currency in general?
Most of the information comes from the Federal Reserve. The greenback has a colorful history that's all its own. For instance, you make think our money is made out of paper. Actually it's one-fourth linen and three-fourths cotton, which gives it a greater lifespan.
Here are some other money FAQ's:
What is the lifespan? It depends on the denomination. A dollar bill lasts about 21 months in circulation, while a $100 bill lasts 7.5 years.
How many times would I have to fold a bill backward and forward before it would rip in half? The answer is 4,000 times.
What does it cost to make a note? $1 and $2 bills cost about 5.5 cents, while $5, $10 & $100 notes cost 9.9 cents. For some reason, $20 and $50 notes cost 10.9 cents.
Is there anything larger than a $100 bill? Not anymore. There used to be $500, $1,000, $5,000 and $10,000 bills, but they were seldom used. They were last issued in 1969 and last printed in 1945.
What's the highest denomination ever printed? There once was a $100,000 bill with Woodrow Wilson on the front. But the gold certificate was never in circulation, and only used for transactions between Federal Reserve Banks.
To read an article with more facts about money, click on the link.