Want to know some interesting fun facts about money?
Wikipedia defines money as “any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context.”
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Sounds a bit boring? Here are some more interesting fun facts about money:
- The US Dollar is the most commonly used physical currency in the world.
- Though in decline, there are more than 1.6 million ATM’s in the world.
- Money is manufactured in a Mint. The Australian mint manufactures currency for many other countries, such as Romania, using unique plastic notes with inbuilt holograms.
- Coins were first developed in the 7th Century BC.
- The most expensive coin is the Flowing Hair Silver/ Copper Dollar 1794/5 worth US$10 million.
- Collecting coins is called ‘numismatics‘.
- More monopoly money is printed every year than real money.
- Cash is being phased out in some countries, especially in Scandinavia.
- In 1920 the first Credit Card was used in the US.
- The largest denomination bank note ever issued was the one hundred trillion dollar note by the Department Treasury for the Reserve Bank of Zimbabwe.