Finances don’t always have to be about bull markets or down-turning economies – and they don’t always have to be dull or difficult to understand. In fact, there are actually fun facts about finance you should know about. Here are seven of the top facts about finance plus some additional personal finance tips to help you deal with emergencies.

Learn These 7 Surprising Facts About Finances And Money

1. Money Is Made In Factories Called Mints

Mints are facilities that manufacture coins in the United States. First, the Secretary of the Treasury office gives the green light for a design. Then, Mint artists create a three-dimensional mold which is then digitalized. Finally, the Mint makes coin dies to stamp the design onto the final money product.

The United States has six Mints that employ 1,600 workers in Pennsylvania, California, Colorado, New York, Kentucky, and Washington, DC. You can take a free in-person tour or opt for a virtual tour of one of the Mints and see how American coins are made. You can even purchase coins from a Mint directly.

2. U.S. Dollars Aren’t Made Of Paper

One of the most shocking facts about finance is about the paper money we all know and use. As it goes, “paper money” as we know it – or cash – is actually not even made of paper at all. Dollar bills are actually created from 75% cotton and 25% linen, as confirmed by the Federal Reserve. It is a special paper made by the company Crane Currency.

3. The U.S. Used To Have A $100,000 Bill

The next in the list of facts about finance has to do with a bill that is no longer in circulation. The U.S. issued a $100,000 gold certificate in 1934. This type of bill was only printed for about a month and was used between the Treasury and the Federal Reserve Bank. It’s no surprise that having these in circulation for longer wouldn’t have been very practical.

4. It Costs More Than A Penny To Make A Penny

When it comes to pennies, it actually costs more than you’d probably think to make one. In fact, it costs a bit over 2 cents to make a 1-cent penny. Strangely enough, making bills costs less than 20 cents each to manufacture. A $100 bill costs around 13 cents to make, while the cheapest bill is the one dollar bill, which only costs about 5 cents and a half per note.

5. Most Bills Won’t Live Longer Than 10 Years

Another one of our personal finance facts is about how long our bills live. American banknotes don’t have a long lifespan to look forward to. Most bills, like the $1, $5, and $10 bills, will only last between 4-6 years. The larger bills tend to last between 8 and 8.5 years, although $100 bills – likely because they are used less often – age the best, lasting around 15 years.

6. More Than Half Of U.S. Dollars Are Not In The U.S. At All

One of the strangest facts about finance is that foreign countries hold half or more of the available U.S. dollars. The U.S. has one of the deepest and most malleable economies, making the dollar extremely common and accepted worldwide. This means other countries hold onto dollars for the same reason that some Americans used to hold onto gold – it offers stability in times of economic uncertainty.

7. American Money Uses Specific Tactics To Avoid Counterfeiting

American bills are created so carefully, professional money engravers need to study for 15+ years to work for the federal government. Money is printed using color-shifting ink that changes color in certain lights, especially on $100 bills. You’ve also probably noticed the watermark of a president on most bills that is only seen when they are held up to the light.

Cash bills even have printed lines that are actually tiny words that can only be seen if held under a microscope. Ever notice the grooves on the edges of coins? These are also created specifically to stop people from removing the coin pattern to use them for their metals. While it isn’t an anti-counterfeiting tactic, it is used to preserve U.S. coins in their original form.

Learn Personal Finance Facts About Handling Emergencies

While everyone enjoys fun facts about finance, certain personal finance facts for Americans can get scary. Did you know that more than half of Americans don’t have enough money to pay for a $1,000 emergency? How about that the average American owes $23,325 in debt that doesn’t include a mortgage?

If you find yourself in a similar group and don’t have enough cash to cover an emergency, you may want to consider a title loan or registration loan from Fast Auto Loans, Inc. for help. You could get cash by as soon as the end of the day by meeting a simple, no-frills list of requirements and applying in a short half an hour.

Title Loans In AZ

Title loans are offered by Fast Auto Loans, Inc. for between $300 and $15,000. You’ll need a driver’s license or state-issued photo ID, the lien-free title for your car, and to present your car for inspection. From there, all you have to do is fill out the online form on our website and a loan representative from the nearest location will help you continue.

Registration Loans In AZ

If you need $900 or less to face your emergency and are still making payments to your vehicle, consider a registration loan instead. You’ll need a driver’s license or state-issued photo ID, the car registered in Arizona, your Social Security number, and an active checking account. Again, just fill out the online form, select registration loans from our list, and we will help with the rest.

Get Your Personal Finances In Order

Facts about finance can be interesting and important for you to read up on. In fact, any of these facts can make you see money differently. And if personal finance facts go south and you are hit with an emergency, consider title loans or registration loans from Fast Auto Loans, Inc. to help. Get started by filling out the quick inquiry form to learn more and get cash today.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.