SURPRISING And Interesting Facts About Money!
Check out these surprising and interesting facts about money!
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List of surprising and interesting facts about money:
13. Americans and Debt
If you have $10 in your pocket and no debts, you are wealthier than 25% of Americans. Last year, Credit Suisse released a report revealing just how poor people are, especially in the United States where debt runs rampant. Mostly, it’s young people who are deep in debt because they graduate from college with massive student loans. And there’s a disturbing trend of buying things people can’t afford just to impress other people.
As if this weren't nerve-racking enough: 6 members of the Walton family, who own the Walmart fortune, are wealthier than 30% of Americans today. That means that these 6 people have more money between them than all the money combined of approximately 94.2 million people in the US today.
11. Why Green?
In 1861 the federal government began issuing paper money to help finance the American Civil War. These new bills became known as greenbacks because the back side was printed in green ink. It was a way to prevent people with cameras from counterfeiting black and white bills. In 1929 it was made official. Bills would be green! Green pigment was readily available in large quantities and the color was very resistant to chemical and physical changes. People also tend to psychologically identify the color green with the strong and stable credit of the Government. Since then, other colors have been added to US currency to make it more difficult to counterfeit.
10. Only 8% of the world’s currency is actual physical money.
Our world is becoming more and more digital by the day. Only 8% of all money around the world is actual physical cash. The rest is digital money that exists only on computers. Money is only a representation of value so it’s easy for money to be nothing but a series of ones and zeroes, used online or transferred via online accounts. How often have you bought something on Amazon and never actually touched the cash you used in the exchange? This digital existence of currency makes up the vast majority of all money around the world today.
8. 94% of bills are contaminated with bacteria.
In 2002 researchers at the Wright-Patterson Air Force Base in Ohio found that 94% of bills they tested were contaminated with bacteria. Most of it benign. However, before you breathe a sigh of relief, they found that 7% harbored dangerous pathogens that could cause pneumonia, strep throat, and skin and other infections. Other experiments have found the fecal bacteria E. Coli. Eww.
It should also be noted that the flu virus, which can normally survive outside the human body for a period of only 48 hours, can actually live on a dollar bill for over 10 days. (1 subtitle) Remember that the next time someone sniffling hands you a dollar.
7. Slug Repellent
Pennies act as a mild repellant for slugs. For those of you that are facing this problem, apparently copper is toxic to slugs and they actually receive electric shocks from touching copper and zinc. Modern pennies are mostly zinc with a thin copper coating. Experiments involving copper and slugs found that the slugs chose to avoid the copper whenever they could. If the slug really, if it really wanted to cross the copper barrier it would. I'm not sure how scientific this is or what would make a slug really, really want to do something or not, but now you know what to do with all those pennies you find laying around....
6. Dancing Liberty Bell
The blue ribbon woven through the new $100 dollar bill contains 650,000 micro lenses that creates an illusion of a dancing, 3D Liberty Bell appear. This was done to make duplication difficult, verification easier, and to discourage counterfeiters in general.
Another safety measure in the new bill was Nano Ink in the blue ribbon. Nano Ink, owned by the same company that supplies the Federal Reserve with the paper to make our currency, was used with the idea that counterfeiters would have a hard time getting it. Unfortunately, anyone can look up the patent for Nano Ink and learn how to make it themselves... a flaw counterfeiter Arthur J. Williams Jr. was happy to point out when asked what he thought about the
5. Why Coins Have Edges
According to the US Mint, There is a reason why coins have edges. When American coins were first made, the quarter, dime, dollar, and half-dollar were made partially from precious metals like silver and gold. A special reeded edge was added to the coins to protect them. Before the new edges, people who needed money would file down the sides of coins to try to collect bits of the precious metal inside.