Money Facts You Most Probably Don’t Know About

It is impossible to know everything about money.  There are too many interesting facts about money and some can be weird.  The facts I found are many and varied and some you may have even heard or read before.  For example, you may be familiar with the fact that money is the number one cause of arguments or disagreements in many marriages.

If you have a savings or checking account, you most probably have an ATM card issued by the respective bank.  Did you know that the first ATM was found in 1967 at Barclays Bank in London and was invented by a man named John Shepherd-Barron?

Why are coins produced with a grooved edge?  I have wondered about this at one time and simply dismissed it as a common design for all coins.  Well, in the past, dishonest traders would file down the edges of the coins to remove some of the precious metal used to make the coins.  Hence, coins were made with a grooved edge to prevent this bad practice.

What is the size of the smallest banknote ever issued?  Morocco issued the world’s smallest banknote which was the size of a postage stamp.  Imagine handling small banknotes like that which I believe are very easy to lose and easily damaged as well.

Since we are on the subject of sizes, “What is the largest banknote ever printed?”  The largest banknote was the Chinese 1 Kwan and measured 9 X 13 inches (slightly bigger than an A4 size paper) printed in the 14^th century.  Well, the trend on big handbags for women popular nowadays would suit just fine for keeping big notes like this.

Do you dislike paying taxes?  Citizens living in the following countries namely Bahrain, Brunei, Kuwait and Qatar do not have to pay any taxes at all.  Lucky people!

Would you choose money over love?  Would you rather be rich or find the love of your life?  Well, 92 percent of Americans chose to be rich rather than finding the love of their lives.

How about “money or sex?”  Over one-third of American women placed more importance on money than good sex when it comes to a successful marriage.  Seriously, considering money feeds you, puts clothes on your back and a roof over your head, what is there to argue about in this matter.

Have you ever wondered about the first credit card and when it started?  American Express issued the first credit card back in 1951.

Who are the heaviest gamblers in the world?  Is it the Americans since they have Las Vegas to head to or is it the Chinese or Hong Kong people with Macao so near?  It turns out that Australians are the heaviest gamblers in the world.  About 82 percent of Australians like to bet and their country has 20 percent of the world’s poker machines.

Do you buy gold as an investment?  The price of gold today is about $1400 per ounce but back in 2004, it was about $400 per ounce and in 1900, it was less than $40 per ounce.  If only you can turn back the clock/time, you would have loaded up on gold and retire comfortably!

Jacquelyn is the co-author of the books “Teaching Your Kids About Money” and “Top 93 Personal Finance FAQs in Malaysia” with KC Lau.  Jacquelyn is the pseudonym used by Amy Sipagal.