Money makes the world go round. The Federal Reserve estimates that there is currently $1.67 trillion in U.S. Currency currently in circulation. We all use it, but how much do we know about it? Here are some off-the-wall facts about money that you likely never knew:
A penny costs 2.4 cents to manufacture.
Yes, it costs more than two pennies to make one penny, all so that you can get exact change on a $1.99 candy bar. Is it worth it? Not according to former U.S. Mint Director Philip Diehl, who thinks the time has come for the penny to die.
The Bureau of Engraving and Printing uses 9.7 tons of ink each day.
The United States Bureau of Engraving and Printing (also called the “Money Factory”) has two active facilities from which it prints money today. Together these two facilities use a mind-blowing 9.7 tons of ink per day.
5% of the people who buy lottery tickets account for 51% of all tickets sold.
Unfortunately, it’s usually not worth it. Someone who drives 10 miles to buy their lottery ticket is 3 times likelier to die en route than they are to win the jackpot. Fortunately, there are easier ways to grow your money — these investing tools will get you a far better return on investment than a flimsy ticket.
Gambling generates more revenue each year than movies, spectator sports, theme parks, cruise ships and recorded music combined.
That’s right. This $34.6 billion dollar industry runs the table, beating out Tom Cruise, the Dallas Cowboys, Mickey Mouse, a week in the Caribbean and the Rolling Stones. If all those gamblers decided to learn to play the stock market game instead of donating their cash to casino owners, they might actually have won something.
94% of bills are contaminated with bacteria.
A 2002 study found that approximately 94% of paper money that moves from hand to hand is riddled with bacteria. And about 7% of those bacteria are hazardous to your health.
If money is too filthy to touch, how are you supposed to pay the bills? Consider using a credit card instead. If you’re on time with your payments, it’ll raise your credit score and stave off the common cold!
There is more Monopoly money printed every year than actual cash.
The popular board game prints up to $50 billion of its currency each year. That’s a lot of real estate. By comparison, the Bureau of Engraving and Printing only produced $1.3 billion.
In Monopoly, when you go bankrupt, you lose the game. In real life, though, you don’t get to flip the board and start over. Fortunately, SuperMoney can teach you how to make bankruptcy work for you.
Only 8% of the world’s currency is in physical money.
We live in a digital world, so it’s no surprise that only 8% of all the “money” around the world is physical cash. But no need to rush the bank. The digital dollars in your checking and savings account are as real as the cash in your pocket.
Rats ate $2.1 billion of Pablo Escobar’s loose change.
Infamous drug lord Pablo Escobar had so much extra cash lying around that he lost an astounding $2.1 billion dollars to rats. Since he couldn’t keep his illegal earnings safe in a bank, he stored them in a warehouse, where rats (with expensive taste!) feasted on 10% of his savings every year.
You may not have a billion in spare change, but you likely have some savings stashed away, whether it’s in a box under your bed or your checking account. If you’re smart, you’ll invest this money early so you can maximize its growth.
The largest denomination of U.S. Currency was the $100,000 bill.
The largest bill ever printed by the Bureau of Engraving and Printing was a $100,000 gold certificate, printed in 1934 and 1935. It was used primarily by banks, and was rarely seen by the public eye.
While the U.S. Mint has printed other impractically large bills (from $500 to $10,000), today, the humble $100 is the largest bill in circulation.
Americans spend $117 billion each year on fast food.
According to recent reports, we spent $51 billion on our beloved pets in 2012, with $310 million of that specifically spent on pet costumes. We also poured out $96 billion for beer, $800 million for Girl Scout cookies, $500 million on twinkies and $65 billion for soda.
Some expenditures aren’t as fun: Americans also spend billions ($18 billion, to be precise) on credit card late fees.
96% of employed people will not be able to retire at age 65.
According to the Employee Benefits Research Institute, 96% of employed Americans will not be able to collect their full Social Security retirement benefits. To compensate for lengthening lifespans, the Social Security Administration has extended the age that you receive benefits.
With your Social Security nest egg disappearing into the distance, it might behoove you to make other plans. Consider starting an account with a wealth management company.
If you have $10 in your pocket and no debts, you are wealthier than 20% of Americans.
That’s because a high percentage of our population is in debt, with their net worth in the negative. If you’re mired in debt, take hope. Bankruptcy is not the only answer. Debt settlement firms can help you get back on your feet.
Money can be hard to manage! That’s why SuperMoney compiled a list of all the best money management tools on the market. If you start early and invest wisely, you can secure a comfortable future.