Fin
ancial Trivia: Little-Known Facts About Money Money makes the world go round, or so the saying goes. But how much do you really know about the financial world? From the origins of currency to the biggest bank heist in history, here are some little-known facts about money that may surprise you.
1. The first paper currency was invented in 7th century China, during the Tang Dynasty. The notes were made of mulberry bark and had the serial number, signature and seal of the issuing authority.
2. The word "budget" comes from the French word "bougette", which means "little bag". The term originally referred to the leather bags used by French ministers to hold their financial papers.
3. The world's largest coin is the Australian Kangaroo One Tonne Gold Coin, which has a face value of AUD $1 million, but is worth more than 40 times that amount in gold alone.
4. The first banknotes to be circulated in America were printed in 1690 by the Massachusetts Bay Colony. They were called "bills of credit" and were used to pay for military expenses during the war against French Canada.
5. The most expensive banknote ever sold was a 1890 $1,000 bill that was auctioned off for $
2.6 million in 201
3.
6. The first ATM (Automatic Teller Machine) was installed in 1967 by Barclays Bank in London, UK. The machine dispensed vouchers that could be exchanged for cash at the bank's counter.
7. The "Big Maple Leaf" coin, minted by the Royal Canadian Mint in 2007, was the world's largest gold coin until it was stolen in a daring heist in 201
7. The coin, worth over $4 million, has never been recovered.
8. In 1944, during World War II, Nazi Germany attempted to counterfeit British banknotes in an operation known as "Operation Bernhard". The plan was to flood Britain's economy with fake currency, but the operation was thwarted by the British intelligence agencies.
9. The term "in the red" comes from accounting terminology, meaning that a company's financial statements are negative or show a loss. In contrast, being "in the black" means a company is profitable.
10 The world's first stock exchange was established in Amsterdam in 160
2. The Amsterdam Stock Exchange traded in shares of the Dutch East India Company, which was the first corporation in the world to issue bonds and shares of stock to the general public. These little-known facts about money add a fascinating layer of trivia to the financial world we live in. From the humble origins of paper money to the intricate workings of global stock markets, the world of finance is full of surprises. By learning more about these facts, you can deepen your understanding of the economic systems that shape our world.