Money makes the world go round, but how much do we really know about the currencies we handle every day? In this illuminating article, we dive into the captivating realm of money, exploring 20 mind-blowing currency facts that will leave you mesmerized. From the origins of ancient currencies to the surprising materials used to create modern banknotes, join us on a journey through time and across continents to discover the fascinating stories behind the currencies we use and cherish.
1-5 Fun Facts About Currencies
1. Only 8% of the world’s currency exists in physical form, while the majority exists only as electronic records.
2. The Guatemalan currency, the quetzal, has an interesting origin story. It is said that the quetzal bird, considered sacred in Guatemala, had its long tail feathers used as a form of currency. To preserve the bird’s life, people would capture it, pluck its tail feathers, and release it.
3. The term “buck” as a synonym for dollar originated from the use of buckskins as a form of currency in the 18th century.
4. Mansa Musa, the Emperor of the Malian Empire, gave away large amounts of gold to the poor during his pilgrimage, causing a devaluation of the currency and severely impacting the economies of the Middle East and North Africa for years.
5. U.S. paper currency holds a surprising characteristic. It can be picked up with a strong magnet. This is because modern U.S. bills contain small magnetic strips as a security feature.
6-10 Interesting Facts About Currencies
6. The first U.S. coin featured the motto “mind your business.”
7. The U.S. dollar is used as the official currency or alongside the local currency in 22 countries, including Ecuador, Iraq, Vietnam, and North Korea.
8. When Australia transitioned from using the pound as its currency, various names were suggested for the new currency, including Austral, the oz, the boomer, the roo, the kanga, the emu, the digger, the Quid, the dinkum, and the Ming. Thankfully, they settled on the Australian dollar.
9. Researchers at Yale successfully trained Capuchin monkeys to understand and use currency, and the monkeys used their newfoun-currency to engage in transactions, including the purchase of s#x.
10. In Siberia, tea bricks were used as a form of edible currency until World War II.
11-15 Surprising Facts About Currencies
11. In the late 1980s, Burma experienced an economic crisis when the president decided to cancel any currency that wasn’t divisible by 9, his favorite number.
12. More Monopoly money is printed in the U.S. than actual currency.
13. During World War II, the Nazis forged British pounds with a total value of £134,610,810 in an attempt to destabilize the British economy. These counterfeit notes were considered among the most perfect ever produced, making them almost indistinguishable from genuine currency.
14. During the American Civil War, the Union counterfeited Confederate currency and deliberately distributed it in the South to cause massive inflation.
15. In 1932, a small Austrian town implemented a unique system to combat unemployment. They introduced a new currency that would gradually lose 1 percent of its value each month if left unspent. This concept aimed to encourage spending and stimulate the local economy. While several towns in the U.S. adopted similar systems, they were eventually outlawed by President Roosevelt in 1933.
16-20 Shocking Facts About Currencies
16. Adobe Photoshop has a built-in feature that detects attempts to edit images of currency and prevents the file from being opened or printed. This security measure is in place to discourage counterfeiting and protect the integrity of currency designs.
17. In the pre-Columbian Aztec Empire, cacao beans were used as currency for small everyday transactions. The value of items ranged from a small rabbit worth 30 cacao beans to someone’s daughter for human sacrifice, which cost 500 cacao beans.
18. The pound sterling is considered the world’s oldest currency still in use.
19. After the attack on Pearl Harbor during World War II, Hawaii was issued its own currency in case the Japanese were successful in taking over the island.
20. It is possible to rent the entire country of Liechtenstein for $70,000 per night, which includes customized street signs and the use of a temporary currency.
That’s it for this post guys, I hope you had fun while reading about 20 Incredible facts about Currency.
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