Showing the money
Presidents’ Day is Monday, Feb. 19, so we thought we would see how presidents stack up against each other moneywise.
There is more than $1.4 trillion worth of Federal Reserve notes in circulation. The chart below shows the number of notes in circulation, in billions, as of December.
The print orders for bills show that there are about 6 million bills printed a year. In 2014, 1.7 million $20s were printed but in 2024 the order is for less than 500,000. In 2014, the order for $100s was 649,600 and in 2024 it’s for more than 1.5 million.
COUPLE OF BUCKS
The $1 and $2 bills were introduced as the first U.S. paper currency in 1862. The $2 bill was discontinued from 1966-1976. In 2024, the print order for $2 bills is 256,000.
The first $10 bills had a small portrait of Abraham Lincoln. In the early 1900s, it had a buffalo and then Andrew Jackson. The current portrait of Alexander Hamilton has been used since 1929. The Treasury Department is considering replacing Hamilton’s portrait with a woman’s. Hamilton was the first secretary of the treasury.
The design of large-denomination bills such as the $100 was being reconsidered because they are used by criminal and terrorist organizations. The $100 bill has been the largest denomination printed since 1969, when bills for $500, $1,000, $5,000 and $10,000 were retired.
Many other nations have moved toward a type of polymer notes, which are a form of plastic which lasts about four times longer than U.S. paper.
In 2022, the 1-cent coin jumped to 2.72 cents from 2.1 cents (29.5%)
The 5-cent coin increased to 10.41 cents from 8.52 cents (22.2%).
The dime to 5.03 cents from 4.39 cents (14.6%).
The quarter to 11.11 cents from 9.63 cents (15.4%).
The half dollar to 17.15 cents from 11.67 cents (47%).
Sources: Federal Reserve Board, U.S. Mint, Department of the Treasury, CoinNews.net