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Fun Fact June 26, 2020.

26 June 2020

It cost about five cents to make, what is it?  You probably have a couple in your pocket or purse right now.  No, not a chap stick, guitar pick or car key.  It’s a dollar bill.  According to the Federal Reserve, each paper bill lasts about six years, and there’s about $1.79 trillion, that’s trillion with a “T” of U.S. currency in circulation right now.  It costs, on average, five cents to produce a single dollar bill.  The $5 bill cost 10.9 cents, $10 cost 10.3 cents, both $20 and $50 bills cost 10.5 cents, and $100 bills cost 12.3 cents. In other words, the more it’s worth, the more it costs to produce.  In addition to labor cost you have to figure in the cost of the raw materials to make the bills.  For instance, Between the facilities in Fort Worth and Washington D.C., about 8.9 tons of ink was used each day in the last fiscal year.  Cha ching!

Fun Fact June 26, 2020.