Did You Know That…

  • The average life of a $1 bill is 18 months.
  • The average life of a $5 bill is 15 months.
  • The average life of a $20 bill is 2 years.
  • The average life of a coin is 25 years.
  • There is more than $25 billion in unclaimed money in the U.S.
  • At the end of the Civil War, about 1/3 to ½ of the currency in circulation was counterfeit.
  • China was the first country to issue paper money – in 140 BC.
  • Ben Franklin invented a process in 1793 to prevent counterfeiting paper money that was not  revealed until 1960.
  • Paul Revere was a silversmith who supplied rolled copper to the Mint for coins.
  • Prior to 1981, a penny was 95% copper. Today’s penny is 2.5% copper.
  • The nickel is the only circulating coin whose weight and composition have stayed the same for the  longest time.
  • The nickel is the only U.S. coin call by its metal content.
  • The U.S. Mint prints currency and medals for the armed forces.
  • A 1792 law directed American money to be made of gold, silver and copper.
  • Grooved edges were used to prevent counterfeiting and clipping – cutting off some of the coin  for the precious metal.
  • The Mint’s first gold and silver coins had no denominations printed on them. Size told you how  much the coin was worth.
  • The U.S. Mint was originally protected by a watchdog, which cost $3 to acquire.
  • The Mint’s coin presses were first powered by horses, oxen and men.
  • The first steam-powered coin press appeared in 1836.
  • The Diner’s Club in 1950 was the first credit card that could be used at multiple locations.
  • The Diner’s Club was first offered to 200 people in 1950 and could only be used at 27 restaurants  in New York City.
  • MasterCard was the first to use a hologram on its cards in 1984 to deter fraud.
  • There is no federal law regulating the rate of interest a credit card company can charge. It was  repealed during the Great Depression.
  • The Dow Jones Industrial Average was created in 1896 by two financial journalists.
  • Blue Chip stocks, a term coined in 1923. In poker, blue chips had the highest value.
  • Bear markets are falling markets. Bears attack by slashing down with their paws.
  • Bull markets are rising markets. Bulls attack by tossing up with their horns.
  • Andrew Jackson was the only president ever to pay off the national debt.
  • John Adams was the first president to live in the White House.
  • Thomas Jefferson was the first person to back the use of the decimal money system we use today.
  • Herbert Hoover was the first president to have a telephone on his desk.
  • FDR was the first President to appear on TV.
  • Abraham Lincoln was the first president to receive a patent – for a floating dry dock.
  • U.S. Grant was the first president to run against a woman candidate.