Currency: The constant costume change.
When we think of money we think of its buying power, but never really what it looks like or whose face is on it.
Bills and coins each have their own distinct designs and facial portraits. These characteristics are some of the most original art works of the United States. The designs have evolved through the years.
The original $1 bill did not always have George Washington’s face on it. Salmon P. Chase, the Secretary of the Treasury during the Civil War was originally featured. Salmon P. Chase was moved to the $10,000 bill when George Washington was put on the $1 bill.
Besides having a different face, the bill had a completely different design to it. In-fact, instead of having the face being featured in the center of the bill, it was placed in the top left corner. It also wore a red treasury seal. The seal contained spikes around it that signified the 34 states that made up the Union before the war. The seal continued to show 34 spikes after multiple states left the union during the war. The treasury kept it this way because they believed it was temporary thinking the states would rejoin the union.
The next difference is that the bills and coins do not just feature presidents. Alexander Hamilton, $10 bill, Benjamin Franklin, $100 bill and half dollar coin, and Salmon P. Chase, $10,000 bill, are just some of the few who are on our currency and were not presidents.
All who appear on our bills and coins are chosen by Congress. When congress chooses a president for a coin, that president’s accomplishment and life are taken into consideration. For example, Abraham Lincoln’s face was placed on the penny in 1909 to commemorate the 100th anniversary of his birth. Franklin D. Roosevelt was put on the dime to honor him after his death and his dime was released on his birthday, January 30, 1946.
These choices made by congress did not all happen in the early years of currency. Congress and the treasury are still approving and disapproving new designs for the bills and coins. A recent example is the possibility of the $1 bill being replaced with a $1 coin.
As easy as it is for currency to have a face, it is as easy to put your face on your retirement and savings. Visualize it!
Design them and strategize the face of your funds by picturing what your investments are for.
How is your design? What does it look like?
Having a great design is a smart Financial Strategy For Life!
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