10 interesting things few people know about paper money

Money is what people use every day, but not everyone knows all the interesting stories around the notes.

>>>History of currency development

Time magazine reviewed 10 stories that are considered to be less known about money.

1. The largest silver coin

With a larger size than 1 sheet of A4 paper, the largest sized silver coin in the world has a face value of 100,000 Peso issued by the Philippine Government in 1998. Designed to commemorate the 1st century on the independence of the Philippines. Spanish colonialists, this limited edition silver coin is only sold to collectors. The price for collectors is 180,000 Peso, equivalent to $ 3,700 / sheet.

2. Silver coins with a face value of £ 1m

The largest denominated silver coin that the Bank of England (BoE) issued was worth £ 1 million in 1948, during the post-war reconstruction under the Marshall plan. This coin is designed exclusively for the US Government to use. A few months later, the release ended, so only very few of these coins were in private hands. In 2008, one of the huge surviving denominations of silver was successfully auctioned for about $ 120,000.

3. The first ATM in the world

ATM is probably the best idea that people think of when in the bath since Archimede. While bathing, John Shepherd-Barron invented the first automated teller machine (ATM), even though there are still controversies about his copyright to these few ideas. Shepherd-Barron then put his idea on British Barclays bank and was immediately accepted.

In 1967, the first ATM was installed in London. Although rudimentary compared to the ATM 'descendants' today, there are advantages of being free of charge. In the picture is a woman withdrawing money from an external ATM of Westminster Bank in London on January 19, 1968.

4. The origin of the $ symbol

No one knows where the symbol of the greenback ($) comes from, but the US Department of Money has a reasonable explanation. The agency said the original $ symbol was used for Spanish and Mexican Pesos, which looked like the letter 'P' in the 'S'. The $ symbol was widely used before 1875, when the first US dollar was issued. If you pay attention, you can see that the $ symbol does not appear in the US currency.

5. The smaller the denomination, the faster it will tear

All paper notes are finally torn. The more small denominations are used, the shorter the life cycle. It is estimated that the USD 1 only lasts for 21 months, while the USD 100 bill can be used for 7 years. In that time, inflation can make the value of the currency 'shrink'. This may be the reason for everyone to spend money as quickly as possible!

6. Police against American counterfeit silver

After the Civil War (1861-1865), counterfeit money spread throughout the United States, with the proportion of counterfeit silver supposedly up to 1/3 of the money in circulation, forcing the Government to act. In 1865, a special department of the US Department of Finance was formed to combat counterfeiting. This agency still exists today, under the name of the US Secret Service (USSS), which is responsible for protecting the President and other top leaders of the country.

President Abraham Lincoln was the one who gave the right to counterfeit silver to the Secret Service on April 14, 1865. By 1901, the agency was assigned by President William McKinley to protect the President. In 2002, the US Secret Service - an agency of 6,500 employees - was transferred to a newly established ministry of Homeland Security.

7. The person with the most printed portrait on money

From Australia to Trinidad and Tobago, portraits of Queen Elizabeth II reign over the coins of 33 different countries - more than any other character. Canada was the first country to print a portrait of Queen Elizabeth in 1935, when the Queen was a 9-year-old princess.

Over time, 26 different portraits of the Queen of England were used on the British Pound as well as the currency of the country's colonies, territories and territories. Some countries like to use the Queen's portrait in splendid royal attire, others like simple portraits. Many countries 'update' the Queen's portrait according to their age, while many countries only like to use the Queen's portrait when young.

8. Money is very dirty

Research has shown that the majority of USD notes are in circulation with a certain amount of narcotics. The reason is that drug traffickers often use hands with drugs to move money, many addicts also use money to roll up as inhalers.

Worse, money has been shown by researchers to be a disease outbreak, with many different types of bacteria and viruses, in an even larger amount in households' toilets. For example, influenza viruses are thought to survive on paper money for up to 17 days. That's why people should use more cards.

9. Zimbabwe's 'superhuman' face value

With a inflation rate of 231 million, the price of a loaf of bread is $ 300 billion Zimbabwe, the government had to issue a 100 trillion dollar bill of Zimbabwe in early 2010. The biggest price in the world ever.

10. First banknote

The paper money was first used in China, during the Tang Dynasty (618-907), originally in the form of a private issue. By the 17th century, paper money began to be used in Europe. And for another 1-2 centuries, new paper money is widely used around the world.

Because paper money was massively issued and inflated, China banned the paper money completely in 1455 and then reused it for centuries. One fact that is less well known is: From 'cash' in money He comes from the word 'kai-yuan' which refers to the type of copper coin that has a hole in the middle that uses the spectrum. turned in the Tang Dynasty.

The title has been changed.