Not sure these money 'facts' are true, but there is a lot of Monopoly Money out there .
1630Boston
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With all of the stress that financial matters can brings about, perhaps we should see money for what it really is — paper (albeit fancy paper). Sure, we can't survive without it, and we need it to build our lives, but those are details. All kidding aside, here are a few facts about money that may just make you see cash just a little bit differently.
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1. It cost more to produce a nickel than a dime**
It may sound a bit strange, even counterintuitive, that a coin worth 5 cents costs more to produce than a coin worth 10 cents, and that's because it is. It costs the U.S. Mint 11.18 cents to make a nickel and only 5.65 cents to make a dime.
A penny comes with a higher cost to make than it's worth as well, with a production cost of 2.41 cents. Once we get up into the higher coin values, like quarters and $1 coins, the value of these coins finally exceeds each coin's actual worth.
2. Your money may be dirtier than your bathroom toilet
We work hard for our money. This cash we work each day to earn, however, is absolutely filthy. Did you know money contains pathogens, including staphylococcus? Time reported on a study that found 94% of dollar bills contained viruses and bacteria. These sicknesses, like the flu for instance, can be transmitted via your cash for up to 17 days.
Some reports indicate that money also contains traces of cocaine, as well. Previously dismissed as a rumor, apparently it has actually has been verified through research by the University of Massachusetts in Dartmouth, who found that 90% of dollar bills contained traces of the illegal drug, as of late 2009. Maybe, it's best to refrain from putting your money where your mouth is?
3. Coins are pickled prior to minting
Pickling is a fairly common practice. Eggs, cucumbers, beets, figs, and cauliflower are all items we soak in vinegar or a vinegar blend to make foods taste differently. For many, the pickling process enhances these foods in some way.
Nickels, dimes, and quarters are also pickled before they're minted. Instead of vinegar, they're soaked in a chemical solution composed of cleaning and polishing substances so that when the faces, lettering, and details are added onto the blanks, they look their best.
What happens to all of your old and worn money? Bet your bottom dollar it doesn't go to waste. The U.S. Mint also recycles old coins and bills into new ones, as well.
**4. More Monopoly money is printed than real money
Were you the player who always bought Boardwalk and Park Place? Although this Monopoly money theory was thought to be a rumor, it is actually true. Parker Brothers reports that it is rolling in the fictional pink, blue, and yellow dough, printing around $30 billion each year. The U.S. government generally only prints money to replace old, or worn-out bills, which results in the annual printing of roughly $974 million, according to estimates published on CNBC's website.
Monopoly is therefore not only out-printing the U.S., the cash-cow is printing over 30 times what the U.S. is.**
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5. Bills don't last as long as we think**
We are supposed to save our money, plan for the future, and build a retirement fund. If you're one of those people who saves cash, holds onto straight cash, or maybe you hide cash under a mattress, you should probably know that money has a pretty short lifespan.
The average life of a $1 bill is less than six years, while a $5 or a $10 bill last just over four years. A $20 bill has a slightly higher lifespan of around eight years, but a $50 bill, it has the shortest life of around three and a half years. The $100 bill however, you can expect a longer-life with old Benjamin of around fifteen years
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And people wonder why I HATE handling money. We need to get rid of the cent and find an alternative to copper for the rest.
4) is hella false. The BEP prints $974MM per DAY, not per year. USA Today really blew that one.
I like to play Monopoly with The Game of LIFE Money...it has bigger denominations!
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I am surprised by the stats in item #4. I can see where a $1 bill would wear out fast because they are constantly used. Ditto for the $5, $10 and to a lesser extent the $20 bills. The short life on the $50 surprises me. My perception is the $50 does not get that much use.
BTW if you are just putting money under mattress, it should last a lifetime. The paper does not go “Puff!” It’s the usage patterns that decrease a note’s useful like.
I don't believe those longevity numbers. I've read in various places that the dollar bill lasts about 18 months. Also, I don't believe that a $50 wears out faster than lesser denominations. Sounds like another example of fake news coming from the MSM.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Actually, according to the Treasury's website the BEP prints $560 million per day.
https://treasury.gov/resource-center/faqs/Currency/Pages/edu_faq_currency_production.aspx
The figure for circulation life of a dollar bill that I heard previously was about 18 months. This number came from advocates of the dollar coin one of the several times that this subject was considered by Congress.
It seems at various times I have also heard claimed that "half the BEP's production is one dollar bills." and well as "half the BEP's production is one hundred dollar bills." They both can't be true, at least at the same time, unless they were ONLY producing these two denominations.
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The flu virus can not survive outside of the body on a surface for 17 days. 17 hours would be pushing it.
Staphylococcus bacteria species lives on your skin. Of course it would be found on things people touch.
We live in a microbial soup. It’s gross when you think about it. If you wash with one of those soaps that kills 99% of bacteria.. well let’s say there were 100 billion bacteria before you cleaned. Now there’s “only” a billion left.
Cheerful thoughts.
Half the production in number of bills could be one dollar bills while half the production in face value could be $100 bills.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
On the part about your dirty money; when Time Magazine sites a study....... one must decide why Time would feel compelled to do so. Is their agenda this time that they hate money or like bacteria ?
Coincidence? Or does Hasbro-Parker Bros. control the U.S. Mint?
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one of the reasons I now use a credit card, money is dirty
I was wondering the same for a long time.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I do not worry about germs or cocaine on money... I just spend it....
Cheers, RickO
@PerryHall "Half the production in number of bills could be one dollar bills while half the production in face value could be $100 bills."
We're talking number of notes for both, not value, and the actual number of $100s and $1 printed are almost the same, but closer to 42% each. The other 16% accounts for the other five denominations. So the value of $100s printed is actually 100 times the value of the $1s. "The claims were probably carefully worded "ALMOST 50% of the production of the BEP are $1 (or $100) dollar bills."
Here's the exact numbers straight from the gubberment.
https://www.uscurrency.gov/life-cycle/data/circulation
sniff sniff
Jim Rickards tells about showing people a $20 FRN, a $20 Monopoly Note and a $20 Gold piece and asks which one is not like the others. The adults say the Monopoly note doesn't belong (is different) and kids say the $20 gold piece is different. He says that the kids get it right because the FRN and Monopoly notes are both Fiat, but the gold is real money.
I own a set of uncut sheets of Monopoly money. Any idea what the set is worth?
Interesting information, thanks for sharing !!!