Some coin denominations have ridges on their sides in part to prevent counterfeiting

Some coin denominations have ridges etched on their sides, partly to prevent counterfeiting, in a practice called 'reeding.'

The designs on US coins have changed a lot over the years

From states producing and issuing their own coins after the Revolutionary War, to collectors’ coins in modern times, US coins have had many design changes throughout history. You can learn about the different variations, plus what design elements are added to all US coins today, in an article.

The US Currency Education Program created a guide to authenticating currency

This video was created to teach everyday people a few easy ways to spot some counterfeit banknotes. Specifically, it outlines the main security features to check for that are common across many US banknotes, such as the color-shifting ink visible when tiling US banknotes $10 or higher.

‘Mint marks’ are tiny letters on US coins that correspond to which mint location created them

As more mint branches opened up after Philadelphia (the first mint location), these “mint marks” helped hold each branch responsible for the quality of the coin. A coin minted in Philadelphia, for instance, would have the letter “P” on it. Some mint marks are extremely rare, making coins displaying them particularly valuable to collectors.

The US developed a coin circulation problem in 2020

As people reduced the frequency with which they paid for things in cash and change during the COVID-19 pandemic, opting for tap-to-pay systems or online shopping instead, the number of coins in circulation decreased. Those who did make cash purchases were more likely to keep their change at home rather than use it on a subsequent purchase.

The case against the penny

It takes roughly three cents to produce a single penny, with an annual price tag of nearly $100M. The ubiquitous copper coin is scarcely used, ending up in jars or lost in couches, necessitating even more replacement coins, perpetuating a vicious circle. Studies suggest eliminating the coin would not cost consumers money. See a quick overview of the problem here.

The US dollar is the most popular note to counterfeit

Counterfeit operations are often controlled by rogue governments, drug cartels, and more. These organized crime rings often sell counterfeit bills wholesale, for anywhere between 40 and 70 cents per dollar.

In 1792, Congress established the first national mint to produce all the coins in the US

At the same time, the US also started producing the dollar, its first official currency. The US Mint has since issued coins throughout the country.

The Secret Service was originally formed to combat counterfeiting

By the 1860s, an estimated one-third of US currency in circulation was counterfeit. In 1865, the Secret Service was created specifically to combat the country's serious counterfeiting problem, which had led to widespread financial instability. This was partly due to the lack of federal currency standardization in the country at the time.

The US Mint created a video to show kids how coins are made

The video, made simple for children (or anyone who wants an easy-to-understand 101 video about the process coins go through to get in your wallet), outlines the entire process that a coin goes through in its lifetime, from Congress voting on new coins, to how coins are stamped, to their journey to a Reserve Bank.

Dive into the fascinating journey of a Federal Reserve note

Ever wondered how long an individual dollar bill lasts? After cash is designed and produced, money circulates in the economy, with $100 bills staying in use for the longest on average—roughly 15 years—and the $10 lasting just less than five.

Every printed bill has its own unique serial number

In the US, each bill also has its own plate number, series year, Treasury seal, and more. Each design helps track money and combat counterfeiting.

Colonial Americans used tobacco, wampum, and land-backed notes to solve a chronic coin shortage

British coins rarely circulated in the colonies due to an unfavorable trade balance, forcing colonists to improvise. They traded in Spanish dollars, Native American shells, tobacco warehouse receipts, and eventually paper money backed by land rather than gold.

Each design detail on the US $1 bill has significance

The eye in the triangle floating above the pyramid, for instance, is “the Eye of Providence watching over and ensuring the endurance of the structure of the American government.” This article details every design choice’s significance on the dollar—and a few conspiracies around these choices as well.

The platinum coin, explained by the creator of the idea

An obscure US Mint law permitting it to create platinum coins of any amount surfaced as a possible means of quickly paying down the national debt. Here's an explanation from the creator of the idea.

The US once had a $100K bill

There are currently seven denominations of paper money, with the highest value reaching $100. But there used to be more that have since been discontinued, including bills that sported the faces of President William McKinley and President James Madison.

The United States had a washing machine that cleaned dirty dollar bills

In the early 1900s, the US Treasury Department had a machine that washed and ironed old, soiled paper bills. The machine helped the Treasury save money by decreasing printing costs for new dollar bills, but had nothing to do with the modern understanding of money laundering.

Pre-coin currencies like shells were subject to counterfeiting

While it is difficult to pinpoint the very earliest form of money that was used, a type of shell called cowrie shells were used as currency as far back as 3300–2000 BCE. These shells were imitated using ivory, bone, clam shells and more.

A mysterious man named Emmerich Juettner once produced thousands of counterfeit $1 bills

After his wife died in 1937, Juettner fell into financial trouble and soon began replicating $1 bills. These bills aren’t typically prime targets for counterfeiting given their low value.

Contrary to popular belief, the $2 bill is still in circulation today

However, it is far less common than other bills. Usage of the $2 bill has been in decline for decades, but the US Treasury hasn’t retired the bill yet. A podcast episode from the Fed’s educational program explains why the Treasury doesn’t print new $2 bills every year, and why they're still considered legal tender.

The value of a dollar differs from state to state

Did you know that $100 is worth 26% less in California than in Arkansas? The value of a dollar isn't consistent in every US state due to a multitude of factors, such as taxes and other varying cost-of-living differences.

Stablecoins like USDC are backed by real assets including US Treasurys and cash

While Tether (USDT) is primarily backed by US Treasury bills (64.9%), USDC is mostly backed by US Treasury repurchase agreements (49.6%). USDC also goes by the name Circle, given that it is owned by the company Circle Internet Financial.

Microchips in payment cards improve security by generating unique transaction codes

Magnetic strips store unchanging data that is easily cloned, but microchips act as miniature computers that encrypt sensitive data. They also resist fraud by creating data unique to each transaction, preventing duplication.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

It cost the IRS $0.36 to collect $100 in 2024

It costs the IRS a significant amount of money to do part of its job—collecting money. For instance, the Internal Revenue Service spent $16.1B to collect $4.7T in taxes in 2023.

For every $100 you deposit, your bank puts a few cents in the FDIC insurance fund

This is a result of the 1933 Banking Act that established the Federal Deposit Insurance Fund. The law sought to prevent bank runs like those that decimated the banking industry amid the Great Crash and subsequent major depression. Today, individual depositors are insured up to $250K at each bank where they have an account.

What is quantitative easing?

Quantitative easing was a relatively new method the Federal Reserve used to curb deflation during the Great Recession. In this process, a central bank digitally creates money that is used to purchase assets, usually government bonds. This lowers returns on low-risk bonds, encouraging investors to put their money in high-risk, short-term stocks, and moves money through the system.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Before the current East Wing ballroom project, only two White House renovations in the past 100 years cost more than $10M.

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Trace how the Bill of Rights, inspired by centuries of political theory, took shape between 1774 and 1789.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

A century of Billboard issues documenting the evolution of popular music.

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

All rainbows are 'raincircles' caused by water droplets separating white sunlight into a spectrum of colors, but Earth's surface blocks the bottom half of the circle from our line of sight.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

Fear or disgust related to clusters of holes and cracks, called trypophobia, may stem from evolutionary processes to help us avoid pathogens.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

Watch how deep-sea mining equipment collects and processes polymetallic nodules—metal-rich, potato-shaped rocks—from the ocean floor and creates environmentally damaging plumes of sediments.

To reduce wrinkles in clothing, research recommends gentle wash cycles with more water and tumble drying with smaller loads and longer times.

Gerrymandering works through two techniques: cracking opposing voters across districts to dilute their power, and packing them into a few to waste their votes in lopsided majorities.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

For centuries, Niagara Falls has been a magnet for daredevils seeking to conquer one of nature's most powerful wonders, with its 200-foot drop and water rushing at 32 feet per second with 280 tons of force.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'