How long does a dollar bill last? How about a five? Plus other facts about U.S. currency.
Have you ever wondered about the lifespan of the dollar bill? What about a 5 dollar bill?
The average dollar bill has a life span of about 22 months before it is destroyed and replaced. A $100 bill, by comparison, can last close to 8 years or 89 months.
The Bureau of Engraving and Printing (BEP) is responsible for producing new paper money for the Federal Reserve System.
The BEP prints about 16,650,000 one dollar bills each day, and it costs approximately 4 cents to make a one-dollar bill.
Since 1862, all U.S. currency was printed in Washington D.C., but in order to meet the increasing demand, a second printing facility had to be opened in Fort Worth Texas. This location now produces about half of the nation’s currency.
US notes are made from a blend of 75% cotton and 25% linen in order to ensure longevity, while discouraging counterfeiting.
After the paper is dyed, pressed and its security features safely in place, the BEP then issues the official notes throughout its twelve Federal Reserve Districts.
There is approximately $860 billion worth of U.S. paper money circulating throughout the world.
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Category: Finance NewsTag: Circulation, Dollar Bill, Money Circulation
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