23 Facts about U.S. Cash - mental_floss List Show Ep. 410

TL;DR

Discover intriguing details about US currency, from its origins to quirky designs and historical anecdotes.

Transcript

hi I'm John Green welcome to my salon this is Mental Floss video and you know that before 1929 the US Mint used to produce currency that was 50% larger than today's notes the bills were affectionately called horse blankets because of their size and that's the first of many facts about US cash money that I'm going to share with you today in this vid... Read More

Key Insights

• 🤑 US money used to be larger pre-1929, known as "horse blankets."
• 🏮 Linen in US paper currency is highly resistant to bacteria and moisture.
• 🤯 Ben Franklin designed the first American penny with 'mind your business' inscription.
• 👨‍🦲 The US Treasury once had a real bald eagle named Peter as a mascot.
• ♻️ George Washington's silverware was recycled to produce early nickels.
• 🌉 Some quarters have 119 ridges, differing from dimes which have 118.
• 🎱 The US issued $10,000 bills featuring Salmon P. Chase, valued at $140,000 today.

Questions & Answers

Q: Who makes the paper for US currency and how did they get the job?

The Massachusetts Crane Paper Company produces US currency paper, initially awarded after allowing Paul Revere to stable his horses. They are now headquartered in Sweden.

Q: Why did the first American penny designed by Ben Franklin read "mind your business"?

Ben Franklin's penny, the Fugio cent, emphasized frugality instead of "In God We Trust" to promote financial prudence.

Q: What were early nickels made from, and how did the raised ridges on coins serve a purpose?

Early nickels were recycled from George and Martha Washington's silverware, and coin ridges deterred metal shaving schemes to devalue currency.

Q: How did Salmon P. Chase influence modern banknotes, and what denomination was he honored on?

Chase, a Treasury Secretary, popularized modern banknotes and is featured on the $10,000 bill, a tribute to his legacy.

Summary & Key Takeaways

• US currency used to be larger pre-1929, known as "horse blankets."

• Linen, a key component of US paper money, is resistant to bacteria and getting wet.

• Interesting historical facts include Ben Franklin's design of the first American penny.