Interesting Facts About US Currency

The Bank of the United States was the first central bank chartered by the U. S. Congress. The bank issued the first currency bearing the words "United States". This $50 note was issued in 1801. The bank closed in 1811 when Congress failed to renew its charter.

In 1816 the U. S. Congress chartered the second Bank of the United States which issued this one thousand dollar note.

This ten thousand dollar note from 1928 issued by the Federal Reserve Bank is the highest U. S. denomination ever issued for public circulation. It bears the portrait of Salman P. Chase who served as Secretary of the treasury and Chief Justice of the United States.

This one hundred thousand dollar bill is the highest U.S. denomination; there are no one million dollar bills, contrary to urban legend. The bill bears the portrait of President Woodrow Wilson. There were 42 thousand of these bills printed, and all were used for transactions between the Federal Reserve Bank and the Treasury Department; they were never issued for public circulation. The government stopped using them in 1960 and most were destroyed. Only three are known to exist, and it's illegal for a private person to own one of these notes.

Present-day money is printed by the Bureau of Engraving and Printing (part of the Department of the Treasury) in Washington D.C. and in Fort Worth, Texas. Coin currency is produced elsewhere, by the U.S. Mint. The Bureau of Engraving and Printing's website has a rather interesting URL name: http://www.moneyfactory.gov/. Each day they print 38 million notes, with a face value of approximately $750 million. The notes are printed on paper made by the Crane Paper Company of Dalton, Massachusetts, and made of 25% linen and 75% cotton. Approximately 18 tons of ink are used daily to print the notes.

Counterfeiting, mutilation, defacement, and other currency-related crimes are investigated by the U.S. Secret Service.

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Disclaimer: I am not a financial professional, economist, or related to Alan Greenspan. Any advice, insight, information, or misinformation on this blog should not be followed based solely on me saying so. Assume that I have no clue what I'm talking about. Do your own research and come to your own conclusions before doing anything with your money. I assume no responsibility for your financial failure or success. However, if you do have success, send a little my way. -Rich.