20 facts about money that will make you a true expert.

What do you know about the money we use today? Learn all about its origin, the different currencies of the world, and the most rare cash items. After reading all 20 facts about money, you will become a true cash expert, just like Safescan.

Money has a rich history

1. The word ‘’money’’ comes from the Latin word ‘’moneta’’
Moneta was the title given to Juno, the Roman goddess of marriage, and the queen of the gods. Temples dedicated to her were often used as mints where coins were produced. Establishing the association between the goddess and the currency.

2. The concept of money dates back to around 3.000 BCE
The origin of money dates back to around 3.000 BCE when people first started trading goods with each other as payment. This started with shells, salt, livestock, and stones, and later developed into the coins and banknotes we use today.

3. Paper money finds its origin in China
China was the first country to start using paper money. During the Song Dynasty merchants used promissory notes as they were easier to carry and exchange than metal coins. This innovation revolutionised the concept of money helped simplify trading.

4. The first banknotes were created by hand
The very first banknotes were written by hand on small sheets of paper. In addition, stamps were often used on the paper as a mark of authenticity.

5. The Romans were the first to put significant people on their money
The Roman Empire started the practice of depicting rulers on coins. They did so to establish authority and legitimacy. Today, not only rulers are shown on money, but also other important historical figures such as philosophers or writers.

6. Money is created by mints and printing presses
Most currencies are made by mints or printing presses. These facilities are responsible for producing coins and banknotes according to the economic demand of their country or region.

7. The very first ATM system was installed in London
John Shepherd-Barron was credited with the invention of the Automated Teller Machine (ATM), of which the first model was installed in 1967 in Enfield, London. Three years later the British engineer James Goodfellow created the concept of the personal identification number (PIN).

The currencies of the world

8. There are 180 different currencies
There are currently 180 different currencies recognised as legal tender and used around the world. Each with its own value and exchange rate.

9. The US Dollar is the most traded currency
Due to it being the main trading standard, the US Dollar can be classified as the most used currency. It is followed by the Euro, the Japanese Yen, and the Great British Pound.

10. The Euro symbol has Greek heritage
The Euro symbol (€) is based on the Greed epsilon (?), which is the first letter of the word Europe. The two horizontal lines symbolise the stability of the Euro.

11. The Kuwaiti Dinar is the most valuable currency
At this moment, the Kuwaiti Dinar is the most valuable currency in the world. It is currently worth around € 2.93. Showing the strength of Kuwait’s economy.

12. The value of currencies changes every day
The value of money is determined by its exchange rate. The value of the exchange rate - and therefore the currency - is affected by political changes, inflation, trade relationships, and more. Whenever there is a shift the value of your money changes.

Rare coins and banknotes

13. New coins are released every year
Every year mints and banks all over the world introduce new coins. These coins are issued to commemorate special events or celebrations, and feature designs that illustrate the particular occasion. These commemorative coins mainly serve as collector’s items, but are occasionally also issued for regular circulation.

14. Some coins are worth millions
One of the most expensive coins ever sold is the Saint Gaudens Double Eagle coin from 1933. The coin was sold at an auction in 2021 for $18.872.250. The dream of every coin collector.

15. The 1-Kuna coin is one of the smallest to ever exist
The Guinness World Records organisation recognises the 1-Kuna coin as the smallest in the world. The coin has a diameter of 1.99 mm and only weighs 0.05 grams. The coin had been created to celebrate the Kuna one last time before Croatia switched to the Euro.

16. One of the largest coins ever created was the Perth Mint One-Tonne gold coin
The Perth Mint in Australia has one of the world’s biggest and most significant gold coins. The one-tonne gold coin has a diameter of 80 centimetres and weighs 1.000 kilograms. It is made almost completely out of solid gold and is worth more than 1 million Australian Dollars.

17. You can fold and unfold a US Dollar note 4.000 times
According to the Bureau of Engraving and Printing, you would have to fold and unfold a dollar note around 4.000 times before it tears.

18. One of the smallest notes ever printed was the 10-Bani note
As coins were running out, the Romanian state introduced the 10-Bani note in 1917. Measuring at 44 mm by 33 mm it is one of the smallest banknotes that was ever printed.

19. The Philippine 100.000 piso banknote is one of the biggest ever
The Guinness World Records organisation recognises the 100.000 piso banknote as the largest (regular) legal tender note. The banknote was released in 1998 by the government of the Philippines and measures in at 355.6 mm by 215.9 mm. That’s bigger than a standard A4 sheet of paper.

20. The largest printed denomination was the Hungarian million billion pengö note
In 1946, Hungary went through a period of heavy hyperinflation. The value of the currency decreased so much that prices rose to an extreme level. Resulting in the creation of the Hungarian million billion pengö note (100 quintillion: 1 with 20 zeros). The banknote was withdrawn very quickly, and later that year Hungary remonetised and introduced the forint.

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The following sources have been consulted and used as references in this article:
https://www.guinnessworldrecords.com/world-records/first-paper-money
https://content.time.com/time/specials/packages/article/0,28804,1914560,00.html
https://www.forbes.com/advisor/money-transfer/highest-currencies-in-the-world/
https://www.ecb.europa.eu/euro/coins/comm/html/index.en.html
https://atkinsonsbullion.com/news/february-2020/10-of-the-rarest-coins-in-the-world
https://new.coinsweekly.com/news-en/the-worlds-smallest-coin/
https://www.banknoteworld.com/blog/largest-and-smallest-banknotes/
https://www.guinnessworldrecords.com/world-records/highest-denomination-banknote