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Interesting Facts About Money
Money is a very big part of our lives and we use it on a daily basis. Although some people don't like to think about it, we sometimes can't seem to get it out of our minds. It seems that having money is the only way to live our lives with the things we want including freedom.
This is the reason that we hear the term "money makes the world go around," because we can't seem to be able to live without it. The interesting facts about money below will give you a new perspective and make you think about money in a very different way.
Before money was invented and introduced, everything under the sun was used as a substitute for money based on its perceived value. The value of an object used to be determined and negotiated by the buyer and seller.
In the United States alone, about seven billion notes are produced annually, which is approximately 26 million notes printed per day or a total of 974 million dollars. Notes are made using very sophisticated machines, which are capable of applying about 40 or 50 tonnes of pressure to get the note perfect.
Durability of a note
Although many people believe that money is made from paper, a United States dollar note is made from 25% linen and 75% cotton. This is to ensure that the note has increased durability and it is more likely to last a very long time. A note is manufactured in order to endure extended use and crumpling in pockets.
In order to fight the criminal act of counterfeiting, notes are produced and embedded with several security features to make identifying a counterfeit a lot easier. Some of these features include red and blue fibres embedded in the note, a security thread, serial numbers, watermarks, micro-printing, security foils and color-shifting ink.
Value of Money
I believe that it is an interesting fact that the only reason that a coin or note has value is because it is a collective agreement between people. If we all collectively agreed that a particular coin or note had no trade value, then it would be a worthless object.
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Cash is Untraceable
A popular reason that people like to use cash money instead of credit cards or electronic funds transfers is because cash can be untraceable. It is a known fact that people have transactions which they would like to keep a secret rather than to leave a paper trail. This is a reason that, despite the evolution of technology and money, cash will always be in demand and one of the preferred methods of payment.
Distribution and Circulation
Money is constantly in motion all over the world whether it is in our pockets or in an armored truck being delivering to or from a bank. The chances are that before you receive money that individual note or coin has travelled farther than you have and been in contact with more people.
Notes vs Coin Denominations
Money is made in denominations of notes and coins. Coins are generally made in lower denominations. An interesting fact is that in 2005, the United States Government tried to save money in the production of notes and released a one dollar coin. This effort failed because the American people preferred the note as opposed to the coin. The reason for this is that the note was lighter and easier to carry, and had a lesser chance of ending up sitting around unaccounted for.
These are all interesting facts that make money more than just a currency or an object of trade.