Money is an essential aspect of our daily lives, and it’s always good to know some interesting facts about it. Here are some unique facts about money that you may find cool and useful.
Did you know that the first ATM was installed in London in 1967?
Or that the first credit card was introduced in 1950?
Did you know that money isn’t actually made from paper? It’s made from cotton! Paper money is only about 80% cotton. The other 20% is made from linen. That’s why money feels a little bit crispy.
In this blog post, we’ll take a look at some fun money facts that you may not know.
Here Are 10 Fun Facts About Money
Check out my awesome list of money facts.
Salary Comes From Salarium
The word “salary” comes from the Latin word “salarium,” which means “salt money.” In ancient Rome, soldiers were paid in salt because it was a valuable commodity at the time. Source
100,000-Dollar Bill with Woodrow Wilson
The world’s largest banknote is the 100,000-dollar bill, which features Woodrow Wilson, the 28th US president. However, it was never in circulation for public use and was only used for transactions between Federal Reserve Banks. Source
Tang Dynasty Creates First Paper Money
The world’s first paper money was created in China during the Tang Dynasty (618-907 AD). It was called “jiaozi,” and it was made of mulberry bark. Source
A Penny Costs More Than It’s Worth
In the US, the penny costs more to produce than it’s actually worth. It costs about 1.8 cents to make one penny. Source
Accounting Language and “In the Red”
The phrase “in the red” comes from accounting terminology. When an account is negative, accountants would traditionally write the amount in red ink. Source
First Credit Card Ever
The first credit card was introduced in 1950 by Diners Club. It was originally intended for use in restaurants and allowed customers to charge their meals to their account. Source
Most Counterfeited Currency in the World
The most counterfeited currency in the world is the US dollar. According to the US Secret Service, about $70 million in fake bills are circulating in the US at any given time. Source
Hidden Owl on $1 Bill
The $1 bill has a hidden owl in the upper left-hand corner of the shield on the right side of the bill. It’s said to be a tribute to the Bohemian Grove, a private club of powerful and influential men. Source
World’s Oldest Coin
The world’s oldest coin is the Lydian lion, which was minted in Lydia, an ancient kingdom in modern-day Turkey, in the 7th century BC. Source
Golden Ratio Mathematical Concept
The “Golden Ratio” is a mathematical concept that is found in many aspects of life, including money. It’s believed that the dimensions of US paper currency follow the Golden Ratio. Source
Here Are Some More Quick Fun Money Facts:
- The average life span of a $1 bill is 18 months
- The average life span of a $5 bill is 2.5 years
- The average life span of a $10 bill is 4 years
- The average life span of a $20 bill is 5 years
Did you know that paper currency is made of a blend of 75% cotton and 25% linen? Or that the first paper money was used in China over 1,000 years ago?
- The United States issues more than 50% of the world’s paper currency.
- The average life span of a paper bill is about 18 months.
- About 8.5% of all U.S. currency is counterfeit.
- There are more than 1,500 different types of coin in circulation around the world.
- The first metal coins were made of gold and silver.
- Coins were first used in China over 2,500 years ago.
- The U.S. Mint produces more than 20 million coins a day.
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Now You Know Some Fun Money Facts
Knowing some fun facts about money can be entertaining and educational. It’s amazing how much history and culture can be found in the world of currency.
I hope you found these cool and interesting facts about money useful. If you found them helpful and fun to learn about, please share them on social media! Thanks for reading!
Awesome info about the history of money.