Posts Tagged ‘bills’
Nishan Panwar Money Quote saying we all comprehend the need to value love over income – but that is only true of excess income beyond necessities. Nishan Panwar said:
They say that love is more important than money, have you ever tried paying your bills with a hug?
— Nishan Panwar
Tim Miller Money Quote saying as the electrical contractor on the Washington D.C. Trump Hotel filing lien against Trump Organization for unpaid bills that it is financed by workers. Tim Miller said:
We’re a business. We have 700 employees that we pay every week. We have bills. We are effectively financing this work, and we don’t think it’s right
— Tim Miller
Janet Yellen Money Quotation saying government legislators are expected to do their jobs budgeting & setting our national debt ceiling. Janet Yellen said:
I believe it’s the responsibility of Congress to pass a budget to fund the government, to deal with the debt ceiling so that America pays its bills
— Janet Yellen
Rudyard Kipling Money Quotation saying being well paid at any level is of no value if it goes as fast as it comes in – making a poor opinion for any man. Rudyard Kipling said:
All the money in the world is no use to a man or his country if he spends it as fast as he makes it. All he has left is his bills and the reputation for being a fool
— Rudyard Kipling
- US currency bills are 2.61 inches wide
- 6.14 inches long
- They are .0043 inches thick
- Weigh 1 gram
- It costs the US government 6.4 cents to produce a U.S. bill
- Bills are composed of 25% linen and 75% cotton
- red and blue synthetic fibers are distributed throughout the paper
- Bills are made from a blend of linen and cotton, which is why they don’t fall apart in the wash the way paper does
The Bureau of Engraving and Printing prints about 16,600,000 $1 bills each day. Most are used to replace worn, older bills. There are currently 4 BILLION $1 bills in circulation. Approximately 45% of all U.S. currency produced today are $1 bills.
The black seal with the big letter in the middle signifies the Federal Reserve bank that placed the order for the bill. The letter also corresponds to the black number that is repeated four times on the face of the bill. For example, if you have a bill from Dallas with the letter K, then the number on the bill will be 11 because K is the eleventh letter in the alphabet.
- A = Boston
- B = New York City
- C = Philadelphia
- D = Cleveland
- E = Richmond VA
- F = Atlanta
- G = Chicago
- H = St. Louis
- I = Minneapolis
- J = Kansas City
- K = Dallas
- L = San Francisco
The Treasury Department sends newly printed bills to each of the Federal Reserve banks, which in turn send the money out to banks, credit unions, and savings and loans institutions. From there, people withdraw the cash and begin to use it to shop and pay bills.
New, crisp dollar bills enter the money cycle by being paid into the U.S. Federal Reserve system.
Treasury Department to Federal Reserve Banks to Credit Unions, S&L, Banks
FBI chemists have discovered that traces of cocaine can be found on almost every dollar bill in circulation. However because cocaine is a fine powder and is easily spread around, presence of the drug does not necessarily mean the bill was used as a snorting straw.
Since 1973, the dollar bill has had no value tied to it. As opposed to the British pound, where each currency note has a direct value attached to it based on the silver reserves England owns (1 pound note = 1 pound sterling silver).
Banks collect torn, damaged or badly soiled bills by separating them out daily from what they collect from the public. Banks can exchange the old, worn out money for new bills at the Federal Reserve Bank and determines if it is ready to be retired from the money system. It it is not, the bills are recirculated through the banks. The Federal Reserve Banks collect the worn out currency in large quantities, then the money is shredded. A $1 bill usually lasts about 21 months in regular circulation
If you have a badly damaged bill, you can usually redeem it at your bank. As long as there is more than half of the bill left, your bank will exchange it for you. IF the bill is too damaged for the bank to accept, you can still try redeeming it by sending the remains of the bill to the Treasury Department and asking them to redeem it. If it is possible to determine the bills value and if the missing parts of the bill have have not already been redeemed, the Treasury will redeem it for you.
What Happens to Old Paper Money?
Steven Wright Funny Money Quote saying Cashflow seems to be affected differently by the laws of physics when it comes to the postal system – income travels slower than bills, which move through the mail at the speed of light. Steven Wright said:
Bills travel through the mail at twice the speed of checks
— Steven Wright
Ebenezer Scrooge in Charles Dickens’ ‘A Christmas Carol’ Money Quotation saying in his miserly characterization of Ebenezer Scrooge that Christmastime has nothing to recommend it. Ebenezer Scrooge said:
What’s Christmas time to you but a time for paying bills without money; a time for finding yourself a year older, but not an hour richer?
— Charles Dickens