Friday, August 10, 2007
10 Useless Facts about the US Dollar
1. The U.S. dollar is the currency most used in international transactions.
2. Several countries use the U.S. dollar as their official currency, many others use it in a de facto capacity.
3. In 1995, over US $380 billion were in circulation, two-thirds of which was outside the United States. By 2005, that figure had doubled to nearly $760 billion, with an estimated half to two-thirds being held overseas.
4. If you had 10 billion $1 notes and spent one every second of every day, it would require 317 years for you to go broke.
5. 95% of the notes printed each year are used to replace notes already in, or taken out of circulation. During 2006, 55% of the notes printed were $1 notes.
6. Currency paper is composed of 25% linen and 75% cotton. Red and blue synthetic fibers of various lengths are distributed evenly throughout the paper. Prior to World War I the fibers were made of silk.
7. It takes appriximately 4,000 double folds (first forward and then backwards) before a US note will tear.
8. The average life span of a US note varies by denomination:
$1 = 21 months
$5 = 16 months
$10 = 18 months
$20 = 24 months
$50 = 55 months
$100 = 89 months
9. A stack of currency one mile high would contain over 14½ million notes. I think I'll start working on trying to build that stack...
10. One million dollars in $1 bills weighs 2,040 pounds, so if you ever need to move your cash, plan on renting a U-Haul.
Happy Friday to everyone, see you tomorrow for The Saturday Seven!
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