Surviving the Credit Crisis – The Life and Death of a Twenty Dollar Bill
Have you ever looked at a $20 bill and thought about where it’s been and how many people have touched it? If you think about it, it’s can be a little unsettling and in reality may make you wonder “What’s in your wallet?” in more ways than one!
The average $20 bill is in circulation for 7.7 years, according to a report issued by the Federal Reserve. It has a longer life span than the $10 or $5 bill based primarily on use, while a $100 will probably remain in circulation for up to 15 years. But what does it take to create the currency that we use every day without thought!
Join me today as my guest, David McAdams, President of McAdams Tax Advisory Group, and I discuss what goes into creating a $20 bill and what determines when a bill’s lifespan ends.
We will be discussing:
- What makes money special and why do they make it different than regular paper?
- What is the printing process like?
- What happens once the printing is complete?
- Where does it go from there? How does it end up in the hands of the consumer?
- What security features does the bill have? How do you know if it’s real or counterfeit?
Did you know that it takes about 4,000 double folds – first forward and then backward – before a $20 bill will start to tear?
Going back to ancient times, we have always been fascinated with money and it’s power. Is it here to stay or will technology cause it to fade into our past?