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Money Facts

Our first currency was gold and silver. However, after the Civil War, the government issued paper money. In 1913, Congress developed a central banking system called The Federal Reserve, also known as “The Fed”. The Fed regulates money for our entire country!

Our money is made up of bills and coins. Our bills are all the same size with different values but our coins are different sizes and values! Coins last much longer than bills, even though they are made out of special paper. The Fed has determined how long the average bill lasts. The $1 bills average life is about 18 months; however, the $20 bill lasts two years!

When a bill wears out, banks return them to the Treasury Department, which burns them. The remaining ashes are packaged and used to make roofing supplies or insulation! Just think the roof over your head could be made of money!

Did you ever wonder who is on the Fifty dollar bill or the dime? Each bill and coin includes a portrait on the front and a picture of a famous building, symbol or event on the back.