Money is extremely important, but when you're strapped for cash, you usually only think about it as a value, not necessarily as an object. Here are some interesting facts about what's in your wallet:
While many counterfeit bills are terrible representations of real bills, some are frequently detected because they are too perfect to be authentic money.
Serial numbers serve a great purpose, as part of an alphanumeric code for The Bank of Canada.
Cash Printing Ink
The ink used during cash printing is trackable, magnetic, and has colour changing properties that allow it to be assessed for counterfeiting.
Defective coins are sent through a “waffling” before being sent out for recycling. By doing this, armed guards are not necessary to protect the discarded money.
Four tons of U.S. cash are mulched and made into compost every day at a farm in Delaware. This is a much more sustainable practice than burning old bills. A U.S. bill only lasts about a year and a half until it becomes worn out. Canadian polymer bank notes are also recycled when they return to the Bank of Canada, but cannot be composted.
One cent pieces were made from up to 98% copper until 1996, but were eventually changed to only contain 4.5% copper plating, which is about as thick as cellophane tape. When the penny was discontinued in 2012, it was made of 94% steel and 1.5% nickel.
Speaking of pennies, they have more uses than simply sitting in a jug of loose change. Since Canada discontinued the penny, many people have no use for them, but gardeners do: slugs get electric shocks when they touch copper or zinc. All pennies contain some trace of copper, while older pennies contained zinc as well. Burying pennies in your garden beds will keep the slimy mollusks away.
Coins into Rings
Banging on the edge of a coin with the heel of a spoon will cause the rim of the coin to thicken. Sailors used to do this, then cut out the center of the coins to make rings for their loved ones.
Cash Management Software
Remember: no one knows currency like we do.
Cash management software is an exceptionally easy and efficient way to keep track of your cash and coins. Counterfeit detector machines, coin sorters, cheque scanners, and cash counters can make currency handling a breeze for businesses, eliminating the need for additional staff to count money, which can easily result in human error.
Cash management software is available through CashTech Currency, one of Canada's most reliable currency management companies.