American Currency Facts – Dale’s Daily Data
The first paper money in this country was printed in 1862 during the Civil War to make up for a shortage of coins because people started hoarding them. Back then coins were made of gold and silver and people wanted to hang on to them because the value of the gold and silver itself could be more valuable than the coin itself.
The first paper bills or notes were in denominations of 1 cent, 5 cents, 25 cents and 50 cents.
How long do paper bills last? It depends on the denomination. A $1.00 bill lasts 18 months, $5.00 bill, two
years, $10.00 bill, three years, $20.00 bill, four years. $50.00 and $100.00 bills last an average of nine years. Bills that get worn out from everyday use are taken out of circulation and replaced.
The Bureau of Engraving and Printing prints 38-million notes a day with a face value about $541-million.
95 percent of the money printed each year is used to replace notes already in circulation.
Martha Washington is the only woman ever to appear on an American paper bill – a silver certificate back in the late 1800’s.
Ever wonder how much a million dollars weighs? If you used one dollar bills it would weigh just over a ton.
Almost half, 48 percent, of the notes printed each year are $1.00 bills.
How many pennies are produced each year – just over 10-billion.