Have you ever looked closely at a dollar bill? Pull out your dollar bill. What age does it live to be and why, and where does it go when you spend it?
What age do dollar bills live to be and why? There is a date on a dollar bill. This date changes whenever there is a new Secretary of Treasury or Treasurer.
The Secretary of Treasury is the chief financial advisor to the president. The Treasurer of the United States manages the operations of the Treasury for the Secretary of Treasury. A dollar bill also has a serial number, which tells what order the bill has come off of the press.
A dollar bill lives to be 18 months old. A five-dollar bill lives to be 15 months old. Once a bill gets tears and the president’s face gets warn, it is a sign that the bill may not survive its next trip back to the Federal Reserve Bank. Hundred-dollar bills live for eight years. Larger bills don’t get used day-to-day, for instance, at McDonald’s.
The Federal Reserve Bank circulates money. Member banks are located in different regions of the country to ease circulation.
Currency and coin are distributed to commercial banks (such as Bank of America) during peak retail times such as Christmas and summer. Commercial banks put money bank into Federal Reserve when retailers don’t need as much. Here money is stored and counted. Torn bills are replaced by the Bureau of Engraving and Printing.
When you pass a dollar towards the register, think about how old it is, where it is from, where it may be going, and will it survive its trip.
Sources
(pbs.org/moneymoves/money_facts)
(federalreserve.gov/pubs/frseries/frseri3.htm)
Tags: Dollar Bills, Educational, Federal Reserve, Money
