Top 10 Things You Didn't Know About Money

Top 10 Things You Didn't Know About Money

As the U.S. government debuts a new $100 bill on Apr. 21 — this one will be redesigned to ward against digital copying and counterfeiting — TIME traces the history of banknotes from ancient China to modern cocaine dens. Here are 10 tidbits about money that may surprise you

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The Largest Banknote

Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.

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One in a Million

The largest banknote ever issued by the Bank of England was the £1,000,000 note, issued in 1948 as a temporary measure during the postwar reconstruction in the Marshall Plan. Designed for use by the U.S. government only, the notes were canceled after just a few months, allowing very few to escape into private hands. But just because the notes are out of service doesn't mean they're valueless — in 2008, one of two known surviving notes fetched almost $120,000 at auction.

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Inflation Nation

To deal with hyperinflation that reached the ludicrous level of 231 million % and saw the price for a loaf of bread hit 300 billion Zimbabwean dollars, Zimbabwe's newly formed unity government — including bitter opponents President Robert Mugabe and Prime Minister Morgan Tsvangirai — issued a $100 trillion note in early January. (One hundred trillion, by the way, is a 1 with 14 zeroes — making the note the highest denomination in the world.)

Just weeks later, however, the leaders decided to back-burner the hugely devalued Zimbabwean dollar and began allowing people to do business in other currencies. The move managed to curb inflation for several months until a small uptick in July. One hopes some of those $100 trillion notes didn't get spent all in one place.

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Dirty Money

 All money, it turns out, could stand to be laundered: the stuff is filthy. Studies show that a solid majority of U.S. bills are contaminated by cocaine. Drug traffickers often use coke-sullied hands to move cash, and many users roll bills into sniffing straws; the brushes and rollers in ATMs may distribute the nose candy through the rest of the money supply.

Also found on bills: fecal matter. A 2002 report in the Southern Medical Journal showed found pathogens — including staphylococcus — on 94% of dollar bills tested. Paper money can reportedly carry more germs than a household toilet. And bills are a hospitable environment for gross microbes: viruses and bacteria can live on most surfaces for about 48 hours, but paper money can reportedly transport a live flu virus for up to 17 days. It's enough to make you switch to credit.

To continue reading, please go to the original article here:

http://content.time.com/time/specials/packages/article/0,28804,1914560_1914558_1914575,00.html

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