Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

December 24 - Yap Constitution Day in Micronesia

  Posted on December 24, 2021


This is an update of my post published on December 24, 2010:






Micronesia is the name given to a group of thousands of small islands in the Pacific Ocean. Nearby are the many islands of Melanesia, Polynesia, Indonesia, and the Philippines.




Many of the islands included in the region called "Micronesia" make up the sovereign nation of the Federated States of Micronesia. One of the country's four states is Yap, which celebrates the writing of its constitution on this day.


One of the things Yap is notable for is its stone money or Rai stones. These disks of calcite are pretty big, compared to most currency such as U.S. coins and bills. The Rai stones wouldn't fit in a wallet or purse. That's because they are from 1 to 12 FEET (30 centimeters to 4 meters) in diameter!!!


The value of the Rai stones depends on their size and their history (most stones were brought from other islands many, many years ago). The least valuable are the smallest - still, a foot-wide disk of stone is not a convenient coin to jingle in one's pocket!

Most of the time, these stones are not moved when ownership changes. People just know who each of the 6,500 stones belong to!

Of course, nowadays the people of Yap use Western-style money. As a matter of fact, they use actual Western currency: the Federated States of Micronesia uses U.S. dollars as its official currency! Still, the Rai stones are used in traditional and ceremonial exchanges and are seen as national symbols.



December 13 - A Real, Historical WOMAN - on MONEY!!

  Posted on December 13, 2021


This is an update of my post published on December 13, 2010:




Have you ever thought about the design of money? Somebody gets paid to decide whose face appears on coins and bills, and what words and other pictures adorn the two sides. Somebody gets paid to decide on the size and composition and color of coins.

And sometimes those somebodies make mistakes.

The Susan B. Anthony dollar was the first U.S. coin to present a portrait of a real woman.  On the reverse side, a picture of an eagle flying over the moon honored the Eagle lander of the Apollo 11 moon landing.


Susan B. Anthony was a hero in the cause of women's
rights - especially women's right to vote!


What not-so-real woman appeared on earlier coins? Answer below.



Today is the anniversary of the production of the Susan B. Anthony dollar, in 1978.

This coin was one of the most unpopular coins in history. Many people got one or two and stuck them away as keepsakes—but then avoided getting or using the coin any further. In other words, the coin barely circulated. Why was it so unpopular?

It was almost the exact same size as a quarter, and it was silver like a quarter.


Coin designers wanted to make the coin different by making it an eleven-sided coin rather than a round coin—a hendecagon—but vending machines would have had a difficult time with a non-round coin, so the designers just drew the hendecagon picture on the obverse and reverse sides of the coin and used the same reeded edge used for quarters.

With the same size, color, and edge as quarters, is it any surprise that the coin was easily confused for quarters? People didn't like being confused, and they lost money every time they made a mistake with the new coin—again, is it any surprise the coin was unpopular?


Four quarters makes a dollar...
But...wait!

Even the U.S. Mint had problems distinguishing the “Susie Bs” (as collectors refer to the coin) and quarters!

The Susan B. Anthony dollars were only minted a few years. 

Do you know the design on the next dollar coin, released in 2000? 

What made that coin different from quarters (and Susie Bs)?



Answers:

What not-so-real woman appeared on coins earlier than the Susan B. Anthony dollar? 

Lady Liberty.

There have been quite a few coins that feature
Lady Liberty - and she has looked very different
from coin to coin!



The latest version of Lady Liberty is Black.



Do you know the design on the next dollar coin, released in 2000? 

Sacagawea and her baby on the obverse, and an eagle on the reverse.


What made that coin different from quarters (and Susan B's)? 

Gold color and plain edges.


More...
Interested in coin collecting? Get some info here.


 

December 3 - Happy Birthday, Gilbert Stuart

Posted on December 3, 2020


Re-publishing an early entry for December 3:








Born in 1775, Gilbert Stuart was a great American painter famous for his portraits of George Washington, Thomas Jefferson, James Madison, and other U.S. Presidents. 



Above is his most famous portrait, called The Athenaeum, which is a portrait of Washington.

...It was never completed, although he and his daughters painted more than 130 reproductions of it, which they sold for US $100 each.


...And it has been on the US $1 bill for almost the entire lifetime of the $1 bill.

Money


Did you know tha
t...
  • The first US $1 bill had a portrait of Salmon P. Chase.
Who the heck was Salmon P. Chase?
He was the Secretary of the Treasury under President Abraham Lincoln at the time when the bill was first issued, 1862. In 1869 the dollar bill was redesigned to have the Stuart portrait of Washington.
  • The first woman to appear on US money was Martha Washington, who was featured on a $1 “silver certificate” in 1886.


  • Today the US only prints bills up to $100 in value, but there used to be bills for $500, $1,000, $5,000, $10,000, and $100,000!

Seems like Monopoly money, huh?
Whose pictures were on these high-denomination bills?
$500: William McKinley (25th President) 

$1,000: Grover Cleveland (22nd & 24th President)
 

$5,000: James Madison (4th Pres
ident)
 

$10,000: Salmon P. Chase (Hey, there's that guy again!)
 

$100,000: Woodrow Wilson (28th President)
When the $100,000 bill came out in 1934, the US dollar was worth a lot more than it is now. According to Wikipedia, that much money in 1934 would be the equivalent of $1,591,521 today!



Can you imagine holding a piece of paper worth more than one and a half million dollars?
  • There are two US bills now in use that have portraits of people who were NOT presidents. Do you know who they are? (Answers below)
  • Money around world tends to have portraits of important citizens, words, symbols or national “seals,” and pictures (often of things that have to do with the person honored).

Brazil has had pictures of animals, such as a hummingbird, a turtle, and a golden lion tamarin, on the back side of its banknotes.

Canada has had pictures of children playing, art, and a map on the back side of some of its banknotes.

You can check out just about every kind of money here.
  • The money from Ecuador used to be called sucres, and 5 or 6 sucres equaled one US dollar. However, the sucre lost so much value in the 1980s that, by 1990, you needed 800 of them to get US $1!


Then it got worse!

By 1999, it cost 25,000 sucres to get just one US dollar!


So now Ecuador uses US dollars as its official currency.
You can see how your country's currency stacks up to other money from around the world here. (For example, type an amount of US dollars and see how many Euros that is worth.)

 

Play Money!

There are printable $1, $2, $5, and $10 bills from around the world here.


ANSWERS: Alexander Hamilton ($10 bill) and Benjamin Franklin ($100 bill) were never U.S. Presidents. Harriet Tubman, also never a President, is soon slated to replace former President Andrew Jackson on the $20 bill.