Happy National Dollar Day!
While the dollar may not go as far as it used to, it’s still an important currency whether you are spending one or saving. Here are some fun facts about the dollar bill in honor of #DollarDay.
- The average $1 bill circulates for 5.8 years. The dollar represents 45% of bill production. For comparison, the $100 bill gets 15 years before the Federal Reserve pulls it out of circulation.
- It has the oldest design of any bill in circulation. The $5, $10, $20, and $50 bills have all been redesigned in the last decade or so, with the Federal Reserve adding color and watermarks to outsmart counterfeiters. But the dollar bill has remained unchanged since 1963.
- At the bottom of the pyramid are the roman numerals MDCCLXXVI which reads ‘1776’, the year of American independence.
- The eagle on the back of the bill holds 13 arrows and an olive branch with 13 leaves and 13 olives. The shield also respectively has 13 horizontal and vertical stripes. This all stands for the original 13 colonies.
- American currency isn’t all paper, but 75 percent cotton and 25 percent linen, according to the Bureau of Engraving and Printing.
- Ruined money? As long as you have three-quarters of the bill, it should still be legal tender.
The information included in the article has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of the author and not necessarily those of Raymond James.
Money. (2019). 10 Things You Didn’t Know About the $1 Bill. http://money.com/money/4041295/10-things-you-didnt-know-about-the-1-bill/
Posted August 7, 2019 in News Articles