7 interesting facts about US currency

By Nelas | May 3, 2010 | 0 Comments | Rating: 0

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Fact #1

There are 12 legal tender denominations of U.S. currency, though chances are that you have only seen 7 of them.The U.S. currency that we are all used of using in our daily lives are:

$1.00 bills
$2.00 bills
$5.00 bills
$10.00 bills
$20.00 bills
$50.00 bills
$100.00 bills.

The $2.00 bill is not something we are all used of seeing as normally as the other bills mentioned. It is the least frequently printed U.S. bill there is, and the rarity of it gives people the desire to save them, which gives them an even more declining circulation.

That is seven different U.S. currencies we have so far but what are the other five that have existed?

The 5 remaining U.S. currencies ever made are the:

$500.00 bills
$1000.00 bills
$5000.00 bills
$10,000.00 bills
$100,000.00 bills

There is a fat chance you will ever see any of the 5 remaining bills, even if you are rich. The $100,000.00 bill was specifically made for transactions between the Treasury Department and the Federal Reserve, it was never released for public use. The $500.00 bill, $1000.00 bill, $5000.00 bill, and $10,000.00 bill were all in circulation up until the year 1969. There may still be a few out there that people have, but once they reach a Federal Reserve Bank they will be destroyed and removed from circulation. All of these bills are still considered legal tender, if you were ever able to get your hands on one of these bills they are no doubt still worth the face value.

Fact #2

It has been reported by the U.S. Mint that the penny actually cost more to make than what it is worth. Reports suggest that it cost 1.73 cents to make a penny. The copper coated zinc from which pennies are made is worth 1.12 cents itself, add that to the cost of manufacturing them and we end up at 1.73 cents. Maybe it could be a good time to go to the bank and take out thousands of dollars in pennies, melt them down, and cash in the materials for a nice profit! Just kidding, don't think about it. The U.S. Treasury has thought about this, and starting in 2006 it has become a criminal act that can be punished with a huge fine and imprisoned.

Fact #3

If you had to carry a million dollars in $1.00 bills, you would have to carry approximately 2,200 pounds, which of course you would not be able to. Let's do a little math here. $500,000.00 would weigh 1,100 pounds, $250,000.00 would weigh 550 pounds, $125,000.00 would weigh 275 pounds, $62,500.00 would weigh 137.50 pounds. How many $1.00 bills do you think you can carry?

Fact #4

If you had 10 billion one dollar notes and spent a buck every second of your life without ever reinvesting it in anything. You would be set for 317 years until you will have become officially broke.

Fact #5
If all U.S. currency in circulation was spread out to every person in the United States, everyone would receive $823.00. That's it!

Fact #6

Ever wonder how long U.S. bills stay in circulation before the Federal Reserve destroys them?

$1.00 bill - 22 months
$5.00 bill - 2 years
$10.00 bill - 3 years
$20.00 bill - 4 years
$50.00 bill - 9 years
$100.00 bill - 9 years

Fact #7

U.S. coins last way longer than U.S. bills. They have a life span of 30 years before being destroyed and replaced.

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