So I did some deep undercover investigation for this weeks carnival digging back in time to bring you The History of Money! Did you know that China was the first to use paper money around the year 1000. It was made from the bar of mulberry trees. Leaves from these trees, you may recall, are feed to caterpillars to produce silk. I honestly don’t know the last time I used paper money – I stick to plastic. Without further adieu…
The Editors Picks – Series 1934 Gold Certificates Go To:
The largest denomination of currency ever printed by the Bureau of Engraving and Printing (BEP) was the $100,000 Series 1934 Gold Certificate featuring the portrait of President Wilson. These notes were printed from December 18, 1934 through January 9, 1935 and were issued by the Treasurer of the United States to Federal Reserve Banks only against an equal amount of gold bullion held by the Treasury Department. The notes were used only for official transactions between Federal Reserve Banks and were not circulated among the general public.
A lot of good submissions this week, but the Series 1934 Gold Certificates go to:
Dorian Wales presents The Importance of Learning to Let Go posted at The Personal Financier. I grew up in a family that had a tough time letting go of a lot of things. Maybe it was because we were so frugal with everything, but we did and this post hit home.
Aryn presents Avoid Baggage Fees: How to Pack a Suitcase posted at Sound Money Matters. It’s a lost art, but I lived by it when I got out of school and went traveling – if you don’t know how to do this, you best stay home.
Livingalmostlarge presents Investment Mistakes a Couple Makes posted at LivingAlmostLarge. I’ve made a few mistakes on that front, and it’s a list that you don’t see often, but it is DEFINITELY worth reading.
Broke Grad Student presents 9 Simple Ways To Save Money On Gas posted at Broke Grad Student. With gas where it is now, this is always something people are interested in. The tips may “seem” small, but when we’re looking at where gas is headed, every penny counts!
Big Bills, Big Dreams
On July 14, 1969, David M. Kennedy, the 60th Secretary of the Treasury, and officials at the Federal Reserve Board announced that they would immediately stop distributing currency in denominations of $500, $1,000, $5,000 and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments. With the arrival of more secure transfer technologies, however, they were no longer needed for that purpose. While these notes are legal tender and may still be found in circulation today, the Federal Reserve Banks remove them from circulation and destroy them as they are received.
Unique Money Uses
The $2 bill has not been removed from circulation and is still a circulating denomination of United States paper currency. The Federal Reserve System does not, however, request the printing of that denomination as often as the others.
The Series 2003 $2 bill was the last printed and bears the names of former Secretary of the Treasury John W. Snow and Treasurer Rosario Marin. As of April 30, 2007 there were $1,549,052,714 worth of $2 bills in circulation worldwide.
Steve Faber presents – Top Debt Consolidation Loans – How to Get the Best Debt Consolidation Loan posted at Debt Free.
passive family income presents Creating a monthly family budget to track income and expenses. | Passive Family Income posted at Passive Family Income.
MrsMoney presents Does it Make Sense to Drive Farther to get a Lower Price on Gas? posted at The Ultimate Money Blog.
Saving Money Tips
The inclusion of “In God We Trust” on all currency was required by law in 1955. The national motto first appeared on paper money in 1957 on $1 Silver Certificates, and on all Federal Reserve Notes beginning with Series 1963.
Joy Harrison presents Cash-out refinance loan? is it a good choice for extra cash? posted at Money Sense.
Worldly Money Influence
Reserves were formerly held only in gold, as official gold reserves. Under the Bretton Woods system, the United States pegged the dollar to gold, and allowed convertibility of dollars
to gold. This effectively made dollars appear as good as gold. In 1971, however, the U.S. abandoned the convertibility of dollars to gold, and the dollar became a fiat currency.
Since then, all major currencies have removed convertibility to gold, resulting in a general devaluation of world currencies over time. The dollar has remained the most significant reserve currency, though central banks now typically hold large amounts of multiple currencies in reserve.
Silicon Valley Blogger presents Managing All My Money Is Futile: Outsourcing My Finances posted at The Digerati Life.
Interesting Hack (Facts) About The $100 Bill
The vignette on the back of the $100 note is Independence Hall in Philadelphia. There are three people depicted in the engraving. Two (a man and a woman) are in front of the hall close to the building; the third person is a man pictured looking toward the building. There is no record that the man and woman are embracing.
The hands of the clock are set at approximately 4:10. Although the time is not readily identifiable to the naked eye, it may be verified if examined under twenty-fold magnification. There are no records explaining why that particular time was chosen.
CreditAddict presents Amex Delta SkyMiles Cardholders Can Pay With Miles posted at Credit Card Addict.
mbhunter presents Why are some gift cards more “expensive” at MyPoints? posted at mbhunter.
Pamela Grundy presents Recession Monday: Do Vegetarians Save More Money? | Personal Finance Analyst posted at Personal Finance Analyst
RC presents 7 Reasons You May Not Have Received Your Economic Stimulus Rebate Yet posted at Think Your Way to Wealth.
Thanks to everyone for participating! Keep an eye out next week over at SoundMoneyMatters as the carnival heads that way!
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