Amazing Money Facts You Didn’t Know
Every single person in this world loves money. It is also used every single day, simply because it is a medium of exchange. It is also extremely valuable, only because everyone will accept it, but then, if you ask people if they know anything about money, they may know a few facts but not the most unusual and the most shocking ones, that is why in this article, we’ll be sharing some of them with you, so sit back, relax, and read the most amazing money facts you should know.
#1 Cash is NOT paper
A lot of people don’t actually know that the United States paper bills are not actually made of paper, in fact, it is actually made of 75 percent cotton and 25 percent linen. So technically, it is not exactly like an ordinary paper that people normally uses such as newspapers, notebooks, and more. This is one of the reasons why the US dollar bills have such a distinct feel and it also looks like it is way too different compared to other countries’ paper bills.
Every bill is actually utilized with green ink on the backs, while blank ink is actually used for the faces in the money. These are no ordinary inks though because these inks are specially formulated by the BEP or the Bureau of Engraving and Printing.
#2 A Lady on the Money
In 2014, a little girl was endorsed by the former United States president, Barack Obama, because of her idea to feature a woman on the US Currency. Then again, how did they choose a face that would be placed on the money? The answer is pretty simple, you would have to influential, have done something extremely heroic, or have been a part of the US government, and have served the nation. It sounds so simple but it is actually quite difficult
It sounds so simple but it is actually quite difficult obviously since there are no faces on the money. The Secretary of the Treasury decides who deserves a spot on a dollar bill. If you’re like the former presidents George Washington, Abraham Lincoln, and Andrew Jackson, then maybe you’ll be considered. They were chosen not just because they’re presidents, but because they have that what they call, “permanent familiarity in the minds of the public.” Not to mention you have to be dead as well.
There is only one lady though who managed to snag a spot on the dollar bill, and that’s none other than the very first First Lady, Martha Washington. It was in 1886 when she was featured on the $1 silver certificate.
#3 The Lincoln Penny is ALWAYS right
It is a fact that the Lincoln Penny is always right simply because it is the coin where the person is actually facing right, everyone else is facing left. It was designed by Victor David Brenner, which first circulated in the early 1900s. It is considered to be the longest running coin type in the world coinage history.
#4 Liberty Replacement
It wasn’t actually George Washington, who was the original face of the quarter, it was actually Lady Liberty. She was the face of the quarter for more than 100 years until it was replaced by the face of Washington in 1932.
#5 Dollar Life
The life span the dollar bills actually depends on the amount of the bill, $1, $5, $10, bills usually lasts for only 5 years, since it is what a lot of people use the most in transactions, however, the larger denominations lasts longer than that since people tend to handle it with quite care since it has higher values.
Unlike paper bills, coins last longer and they could also be recycled, so if you have any old coins, it is best to turn them over so they could be put to good use.
Did some of these dollar facts surprise you? Share this article with your family and friends so they could be amazed by all these dollar facts as well.
More in Bank Stories
Creative Methods To Save Money When Shopping
Shopping for products can be exciting but it can also be a hassle you would rather be without. The introduction of...January 9, 2018
Hollywood Celebrities With Successful Tech Ventures
The tech industry has grown from a niche market to one of the biggest players in the business field. Because it...January 9, 2018
Why American Rappers Make A Lot Of Money
Rappers are known for living a life indulged with all the good things and, quite literally, tubs full of money. With...January 9, 2018
Debt Consolidation 101: 5 Things To Check If You Are Ready For It
Debt consolidation has gained tremendous popularity in the recent years. Banks have been very rigorous on their risk models and it...January 9, 2018
5 Most Common Misconceptions About Money
Nowadays, money seems to be most people’s worries, but why exactly do you think so? They say money makes the world...January 9, 2018
Financial Mistakes You Can Commit In Your 20s And How to Avoid Them
In your 20s it is likely that you are just beginning to adjust to a number of things like starting a...January 9, 2018
Fly First Class For Free With These MAGIC WORDS
Flying all over the world is part of education and exposure but this can be cumbersome for some, who may find...January 9, 2018
YouTube Vegan Celebrity Dead With Cancer
It’s no secret that there’s a constant division of dieters in the health and fitness industry, with the meat lovers who...January 9, 2018
5 Lessons About Life And Money From Chinese Billionaire Jack Ma
With everything that he has gone through and all that he has achieved, Alibaba founder Jack Ma is truly an epitome...January 9, 2018