1) The Secret Service (the agency tasked with fighting counterfeiting of money and protecting the President) was authorized by Abraham Lincoln on the same day (April 15, 1865) he was assassinated in Ford's theatre. source 2) The majority of U.S. bills are contaminated with cocaine. Another study showed 94% of paper money tested had pathogens found in fecal matter. source 3) Approximately 42% of all printed notes are $1 denomination. However, according to the Bureau of Engraving and Printing, the $5 note has the shortest average lifespan at 16 months. source 4) U.S. banknotes are made on $7 million Swiss Super Orlof printing presses that exert 60 tons of pressure to force ink into cloth. Prized for their distinctive texture, U.S. banknotes are the finest quality engravings being produced in the world today. source 5) Most money is created electronically when the Federal Reserve deposits money into the account of another bank. The estimated amount of USD money in circulation today is about 75 Trillion dollars, but all the coins and paper currency in circulation today are only worth 1.2 trillion dollars. Less than 2% of the currency in circulation is paper (cotton/linen) money. source 6) Estimates show that between one-half and two-thirds of the value of U.S. currency in circulation is held abroad. source
I had read these before. Number 6 still amazes me. I think of it everytime someone mentions that we are a cashless society. New York may be, but the rest of the world isn't. Our money is a world power.
It's held abroad as a reserve currency along side the British Pound, the Japanese Yen and the failing Euro. It is used to back its liabilities. The US' credit rating is still AA+/AAA so the dollar is still a safe investment. Also, defaulting on our debt is unconstitutional
Answer: inflation (though our government stiffs don't recognize it as such) AND the $2 doesn't circulate much; thus the $5 becomes a de facto note for small purchases. IMHO
Exactly. In short, 5 dollar notes change hands more often in comparison to other denominations. Thus deterioating quicker and having shorter lifespan.
