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Published byDiana Cobb Modified over 9 years ago
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Fed bank that issued the bill the bill[Chicago] Bills are crowded with numbers and letters that help the U.S. Treasury track printing errors & authenticate currency. Here’s what many of them mean: Number corresponds to letter in circle indicating issuing Fed bank. First letter corresponds to issuing Fed bank Last letter tells how many times serial number has run
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What could you substitute for a one dollar bill?
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What gives currency value?
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What gives currency (money) value is what goods and services it can be exchanged for in society
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What is Money? Money Anything people are willing to accept as payment for goods and services Examples: seashells, beads, stones Modern Examples: coins, paper
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Three Uses of Money 1. Medium of Exchange Anything used to get (exchanged for) goods and services Without money acquire g/s thru barter - direct exchange of one set of g/s for another
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Three Uses of Money 2. Measure of Value (Unit of Account) Way to compare value of goods / services Value is expressed in terms of price Example: US - dollar, Japan – yen Currency Converter
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Three Uses of Money 3. Savings Method Money holds value if you hold onto instead of spending it Able to use later on - wks, mnths, yrs Except: can decrease in value if inflation Example: 2008 buy iPod $100 2009 buy same iPod $110
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What is Currency? Currency Coins and paper bills used as money Past: stones, gold, salt, cattle, teeth
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Six Characteristics of Money 1.Durability Withstand wear and tear Coins v. wheat or olive oil
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Six Characteristics of Money 2. Portability Easily carried Cattle v. paper bills
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Six Characteristics of Money 3. Divisibility Easily divided into smaller units $10, $5, $1,.25,.10,.05, Cattle v. dollars and cents
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Six Characteristics of Money 4. Uniformity Able to count and measure accurately Whale teeth v. pesos
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Six Characteristics of Money 5. Limited Supply Must be in limited supply Gov’t controls Yen v. coconuts
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Six Characteristics of Money 6. Acceptability Able to exchange for g/s Accepted in NJ and CA and ND Dollars v. cowrie shells
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Activity Complete Graphic Organizer 7 stations 4 minutes each Do these meet the 6 characteristics of $?
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Cowrie Shells
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Whale Teeth
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Cattle
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Leather Strips
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Sea Shells Wampum
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Spade and Knife Money
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Yap Island Stone Money
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Spade and Knife money http://www.calgarycoin.com/reference/china/china1.htm#heavy%20spade Yap Island Stone Money http://www.reefseekers.com/PIXPAGES/Stone_money.jpg http://en.wikipedia.org/wiki/Yap Cowrie Shell Money http://www.anythinganywhere.com/commerce/relic/liberiacowri.htm http://www.jefpat.org/Curators%20Choice%20Archive/2008%20Curators%20Choice/Jan08%20- %20Curators%20Choice%20-%20Modified%20Cowrie%20Shell.htm Wampum http://www.nativetech.org/wampum/wamphist.htm Kissi Pennies http://www.liberiapastandpresent.org/kissi.htm Manillas http://www.anythinganywhere.com/commerce/relic/manillas.htm Katanga Crosses http://www.joelscoins.com/katanga.htm http://www.randafricanart.com/Katanga_cross.html Mitako (Wire money) http://www.randtribal.com/AH_currency_3.html Assorted African Money http://www.nmafa.si.edu/exhibits/site/raffia.htm
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Security Features via US Dept of Treasury Website http://www.moneyfactory.gov/newmoney/ http://www.moneyfactory.gov/newmoney/flash/interactivebill/50_I nteractiveNote.html http://www.moneyfactory.gov/newmoney/flash/interactivebill/50_I nteractiveNote.html
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