Life and Death of the One Dollar Bill

LIFE DEATH of the ONE DOLLAR BILL ONEDOLLLAR BIRTH US currency bills are 2.61 inches wide and 6.14 inches long; they are .0043 inches thick and weigh 1 gram. Bills are composed of 25% linen and 6.14" 75% cotton; red and blue synthetic fibers are distributed throughout the paper. JLERICA FEDHLY. ESERY 15040302 Y TIIE LNITED SHATES( 1. 2 Bills are made from a blend of linen and B05040302 Y cotton, which is why they don't fall apart in the wash the way paper does. UNED It costs the US government 6.4 cents to produce a U.S. bill. NOV 2010 The Bureau of Engraving and Printing prints about 16,600,000 $1 bills each day. Most are used to replace worn, older bills. EDE ALRESLKVE NOOTE LIFE TIIE LNITED STATES OEAIERICA B05040302 V 1. 2 B05040302 Y ONE D OLLAR ONE DO OLLAR, LLAR AA There are currently 4 BILLION $1 bills in circulation. The black seal with the big letter in the middle signifies the Federal Reserve bank that placed the order for the bill. A = Boston Richmond, VA I = Minneapolis = New York City Atlanta = Kansas City C = Philadelphia K = Dallas Chicago H = St. Louis D = Cleveland L = San Francisco The letter also corresponds to the black number that is repeated four times on the face of the bill. For example, if you have a bill from Dallas with the letter K, then the Approximately 45% number on the bill will be 11 because K is the eleventh letter in the alphabet. of all U.S. currency produced today are $1 bills. FBI chemists have discovered that traces of cocaine can be found on almost every dollar bill in circulation. However because cocaine is a fine powder and is easily spread around, presence of the drug does not necessarily mean the bill was used as a snorting straw. $=O Since 1973, the dollar bill has had no value tied to it. As opposed to the British pound, where each currency note has a direct value attached to it based on the silver reserves England owns (1 pound note = 1 pound sterling silver). DEATH RIP Banks collect torn, damaged or badly soiled bills by separating them out daily from what they collect from the public. Banks can exchange the old, worn out money for new bills at the Federal Reserve Bank and determines if it is ready to be retired from the money system. If it is not, the bills are recirculated through the banks. 2. The Federal Reserve Banks collect the worn out currency in large quantities, then the money is shredded. A $1 bill usually lasts about 21 months in regular circulation New, crisp dollar bills enter the money cycle by being paid into the U.S. Federal Reserve system. The Treasury Department sends newly printed bills to each of the Federal Reserve banks, which in turn send the money out to banks, credit unions, and savings and loans institutions. From there, people withdraw the cash and begin to use it to shop and pay bills. Federal Reserve Banks, Credit Unions, S&L Treasury Department Banks If you have a badly damaged bill, you can usually redeem it at your bank. As long as there is more than half of the bill left, your bank will exchange it for you. If the bill is too damaged for the bank to accept, you can still try redeeming it by sending the remains of the bill to the Treasury Department and asking them to redeem it. If it is possible to determine the bill's value and if the missing parts of the bill have have not already been redeemed, the Treasury will redeem it for you. Banks, Credit Unions, S&L SOURCES: http://www.enchantedlearning.com/math/money/bills/one/pbs.org/moneymoves/money_facts federalreserve.gov/pubs/frseries/frseri3.htm http://shine.yahoo.com/channel/life/15-things-you-never-noticed-on-a-dollar-575113 Money Facts". Bureau of Engraving and Printing http://www.ehow.com/about_5267961_happens-old-paper-money.html DESIGN: @jayjaypowpow INFORMATION PROVIDED BY: OnlineFinanceDegree.com -------- u192 --