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by
ophie
Fri May 26 2000 at 19:30:09
Interesting
Fact
s about
U.S.
Currency
The Bureau of Engraving and Printing
produce
s 37 million notes a
day
with a
face value
of approximately $696 million.
95% of the notes
print
ed each year are used to
replace
notes already in
circulation
. 45% of the notes printed are $1 notes.
The
U.S. Department of the Treasury
first issued
paper
currency
of the
United States
in
1862
as a
result
of a
shortage
of
coins
and the
need
to
finance
the
Civil War
.
During the
Civil War
period, the Bureau of Engraving and Printing was called upon to print paper notes in
denomination
s of
3
cents,
5
cents,
10
cents,
25
cents, and
50
cents. The reason for this is that people
hoard
ed coins because of their
intrinsic
value which created a
drastic
shortage of circulating coins.
In
1929
, the size of currency was
reduce
d to about 2/3's of its
former
size
when
production
was converted to 12-subject plates. The
familiar
portrait
s and back
design
s of our currency were also
establish
ed at that time.
A
stack
of currency one
mile
high
would contain over 14½ million notes.
The
approximate
weight
of a currency note is .032
troy ounce
s (12 ounces to a pound.) There are 490 notes in a
pound
.
If you had 10 billion $1 notes and spent one every
second
of every day, it would require 317 years for you to go
broke
.
Currency
paper
is
compose
d of 25%
linen
and 75%
cotton
.
Red
and
blue
synthetic
fiber
s of various lengths are
distribute
d evenly throughout the paper. Prior to
World War I
the fibers were made of
silk
.
Between the
Fort Worth
,
Texas
and the
Washington, DC
Facilities approximately 18 tons of
ink
per day are used.
By the end of
calendar
year
1999
there will be a total of 24 currency presses
divide
d
equal
ly between the Fort Worth and Washington Facilities.
Have you ever
wonder
ed how many times you could
fold
a piece of currency before it would
tear
? About 4,000
double
fold
s (first
forward
and then
backwards
) are required before a note will tear.
The following
information
regarding the
average
life
of a Federal Reserve Note was provided by the Federal Reserve System - please note that the life of a note depends on its
denomination
:
$ 1 ...............18 months
$ 5 ............... 2 Years
$ 10 .............. 3 Years
$ 20 .............. 4 Years
$ 50 .............. 9 Years
$100 .............. 9 Years
Our present sized currency measures 2.61 inches
wide
by 6.14 inches
long
, and the
thick
ness is .0043 inches. If each currency note printed was
laid
end
to
end
, they would
stretch
around the
earth
's
equator
approximately 24 times. Larger sized notes in circulation before
1929
measure
d 3.125 inches by 7.4218 inches.
The 100
dollar
note has been the
large
st denomination of currency in circulation since
1969
.
The
obverse
and
reverse
of the
Great Seal of the United States
appeared in a currency design for the first time when the $1 Silver Certificate Series
1935
, was
issue
d. The Seal dates back to
1782
-- before the
Constitution
.
The
legend
, "
In God We Trust
," became a part of the design of United States currency in
1957
and has appeared on all currency since
1963
.
The largest note ever printed by the Bureau of Engraving and Printing was the $100,000 Gold Certificate, Series
1934
. These notes were printed from
December
18,
1934
through
January
9,
1935
and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of
gold bullion
held by the Treasury. These notes were used for
transaction
s between FRBs and were not circulated among the general
public
.
The origin of the "
$
" sign has been variously accounted for, however, the most widely
accept
ed
explanation
is that the
symbol
is the result of
evolution
,
independent
ly in different places, of the
Mexican
or
Spanish
"P's" for
pesos
, or
piastres
, or pieces of eight. The theory, derived from a
study
of old
manuscript
s, is that the "S" gradually came to be written over the "P," developing a close equivalent of the "$" mark. It was widely used before the
adoption
of the United States dollar in
1785
.
Contrary to popular belief
, the
automobile
pictured on the back of the $10 note is not a Model "T"
Ford
. It is merely a
creation
of the designer of the bill.
The hands of the
clock
in the
steeple
of
Independence Hall
on the reverse of the $100 Federal Reserve Note are set at approximately 4:10.
Martha Washington
is the only
woman
whose
portrait
has appeared on a U.S. currency note. It appeared on the face of the $1 Silver Certificate of
1886
and
1891
, and the back of the $1 Silver Certificate of
1896
.
The
beginning
of an
establishmen
t for the engraving and printing of U.S. currency can be
trace
d as far back as
August
29,
1862
, to a single room in the
basement
of the Main Treasury Building where two men and four women
separate
d and
seal
ed by hand $1 and $2 U.S. notes which had been printed by
private
bank note companies. Today there are approximately 2,800
employee
s who
work
out of two
building
s in
Washington, D.C.
and a facility in
Fort Worth
,
Texas
.
During
Fiscal Year
1999
, it cost approximately 4.2 cents per note to produce 11.3
billion
U.S. paper currency notes.
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