The Truth About Money: 10 Fascinating Facts You Probably Didn’t Know

Money is something we deal with daily, but how much do we really know about it? From its ancient origins to the modern digital era, money has taken on many forms and meanings. Here are 10 interesting facts about money that may surprise you:

1. Money is older than writing
Before people wrote, they traded. The first forms of money—like cattle, grain, or shells—were used as a medium of exchange long before writing systems existed.

2. Paper money originated in China
The first recorded use of paper currency was in China during the Tang Dynasty around the 7th century. It was later adopted by other countries centuries later.

3. Coins have ridges for a reason
Ever notice the ridges on coins like quarters and dimes? They were originally added to prevent people from shaving off the precious metals when coins were made of silver and gold.

4. The U.S. dollar isn’t backed by gold
Contrary to popular belief, the U.S. dollar hasn’t been backed by gold since 1971. It’s now considered fiat money, meaning it has value because the government says it does.

5. There's more digital money than physical cash
Today, only a small percentage of money exists in physical form. Most of the world’s money is digital—just numbers in bank accounts and databases.

6. Money can carry germs—lots of them
Studies have shown that paper bills can carry thousands of types of bacteria, viruses, and even traces of drugs. So wash your hands after handling cash!

7. Bitcoin was the first decentralized cryptocurrency
Created in 2009, Bitcoin changed the game by introducing a currency without a central authority, built on blockchain technology.

8. Hyperinflation once made money worthless
In 1923, German marks became so devalued due to hyperinflation that people burned them for warmth because it was cheaper than buying firewood.

9. The world’s most expensive coin sold for over $18 million
The 1933 Double Eagle, a U.S. $20 gold coin, sold at auction in 2021 for a record-breaking price—proving coins can be collectors' goldmines.

10. Money can influence how we behave
Research in psychology shows that just thinking about money can make people more self-sufficient but also less empathetic and more selfish.