You are reading this article because you took a rest from minting money. So we are providing you with the best facts to accompany your procrastination. There you go mate!
1) The print on the coin is known as mintage.
2) Moolah is still an unofficial term for money, so do not use it in your examinations.
3) A modern coin-counting machine can count 2,500 coins a minute. A bank note-counting machine can tally up to 100 bills in 4 seconds. It can also tell what denomination they are and if they are fake.
4) There are more than 1.6 million ATMs in the world. There is even one in Antarctica. Friday is the most popular day at the ATM. The average amount withdrawn from an ATM is $80.
5) The ancient Chinese cut out the hearts of anyone caught faking the emperor’s paper currency. England holds the record for executing counterfeiters. In 1817, the British hanged 313 people for making or passing phony bank notes.
6) In Old English pygg was a type of clay that was used to make jars and dishes that held money. The word eventually morphed into “piggy bank”.
7) The Romans were the first to stamp the image of a living person on a coin. After winning in war, Julius Caesar featured his portrait on a coin in 44 B.C.
8) Yap islanders of the Pacific used donut-shaped stones as money. Some stones were as large as 12 feet across.
9) A 2002 study in the U.S. showed disease-causing germs on 94% of bills tested.
10) The country with the worst inflation in the world is Zimbabwe. In 2008, it experienced 6.5 sextillion percent inflation.
Inflation is when the price of goods increases at an alarming rate and the earnings are not.
11) The oldest “money” ever found are small pieces of obsidian that were used in Turkey as far back as 12,000 B.C.
12) Over 170 different currencies are used around the world today.
13) Research shows that increasing sex provides a mood boost similar to a $50,000 income gain. However, men who pay money for sex were considerably less happy than those who didn’t.
And then there arises a question. What about women who pay for sex? I think the researchers were a bit of sexists.
14) The study or collection of money is “numismatics,” which is Greek for “coins in circulation.
15) In India, if you have a torn note, or more than 51% of its torn part, you can exchange it for a new one at a bank.