Money Facts

The Federal Reserve estimates that there is currently around $1 trillion in US Currency currently in circulation.  Making and spending money is a part of our daily lives.  Money, or the lack of, can cause happiness or stress.  Despite money being an integral part of our existence, there are many facts regarding money that the average person does not know. Below are 35 interesting money facts.

1. A penny costs 2.4 cents to manufacture.
2. Serial numbers are not just numbers. They also use letters as part of the alphanumeric code for the 12 Federal Reserve banks.
3. More than 2 million Americans live on less than $2 a day.
4. 5% of the money the average American takes home is spent on interest, including credit cards and auto loans.
5. By law, only dead people can appear on US Currency.
6. The ink used for money is high tech. It has trackable, magnetic and color changing properties.
7. The blood you donate is sold on the open market and is a $4.5 billion a year industry.
8. The Bureau of Engraving and Printing uses 9.7 tons of ink each day.
9. Paper money can transport live flu viruses for over two weeks.
10. The US Mint mutilates coins that are found defective.
11. 5% of the people who buy lottery tickets accounts for 51% of all tickets sold.
12. Apple earns $300,000 per minute.
13. If you have $10 in your pocket and no debts, you are wealthier than 25% of Americans.
14. The blue ribbon woven through the new hundred dollar bill contains thousands of micro lenses that make the Liberty Bell appear to dance.
15. 94% of bills are contaminated with bacteria.
16. The first US cents were 100 percent copper. Todays pennies are 95 % zinc with a copper coating.
17. It takes around 8000 folds before a bill will tear from use.
18. McDonalds makes $75 million per day.
19. Pennies buried in a garden will repel slugs.
20. Green was selected for US dollars because it’s the most resistant to fading, flaking and discoloration.
21. 90% of all US bills have at least a trace of cocaine on them.
22. North Korea is the largest counterfeiter of US currency.
23. Only 8% of the world’s currency is actual physical money.
24. Americans spent more than $15 billion on jeans in 2005.
25. Credit card debt now starts in high school.
26. The Secret Service was established to fight counterfeiting.
27. Americans spend $117 billion each year on fast food.
28. Secret design of the $1 bill links it to the original 13 colonies.
29. The average allowance in the US is $65 a month.
30. 96% of employed people will not be able to retire at age 65.
31. Coins have ridges to protect against counterfeiting.
32. Benjamin Franklin is the only non-President to appear on a bill.
33. A dollar bill lasts 18 months before it wears out.
34. The most counterfeited bill in the country is $20.
35. The US Mint isn’t the only place where money is produced.

Hopefully, these money facts enlightened you.  If you have questions regarding your money and how to invest or questions regarding taxes, please contact us at Lee CPAs & Associates LLC at 847-850-5300.