By: Vincent Mortensen
I thought I would give you loyal readers a break on learning about finances by sharing my favorite top ten facts about money.
- Cattle are considered to be the oldest form of currency. In some parts of Africa, cattle are still used as a form of currency today
- Coins usually survive in circulation for about 30 years.
- Shopping was fun in 1900. Women could buy a pair of shoes for just $1!
- A piece of currency can be folded forward and back 4,000 times before it will tear.
- 45% of U.S. notes printed are $1 bills.
- A quarter has 119 grooves around the edge and a dime has 118.
- Parker Brothers printed more money for its Monopoly games than the Federal Reserve has issued in real money for the United States. If you stacked up all the Monopoly sets made, the pile would be more than 1,100 miles high!
- If you had 10 billion $1 notes and spent one every second of every day, it would require 317 years for you to go broke.
- Currency is made of 25 percent linen and 75 percent cotton paper. Red and blue synthetic fibers of various lengths are distributed evenly throughout the paper. Prior to World War I, the fibers were made of silk.
- In 1919 the average income in America was around $650 per year.