Why you Have to be Dead to be on U.S Money.
ฝัง
- เผยแพร่เมื่อ 15 ก.ย. 2024
- This video basically explores the reason that you have to be dead to be on U.S. Currency - which may or may not include coins. For some reason there seems to be some rule bending when it comes to U.S. coinage - I’ll get to that later. So, who meets the criteria of the U.S. Treasury Department to be the face of our currency? From the beginning the founders of our nation felt it was improper to honor any living person by putting their image on legal tender, especially coins, which is all the Federal Government would issue until 1861. The founders, being anti-royalist, didn’t want to reflect any monarchy whose Kings and Queens make it one of their favorite things to put their face on money. The story starts in 1861 with the onset of the Civil War. Early on it became very apparent for both the Union and Confederate governments that they did not have the funds, specifically in hard gold and silver, to wage war. With uncertainty of the Union dissolving and the war, citizens began hoarding all precious metals and coins. There also was also very little gold and silver coming into the U.S. Treasury. Both sides would have to be creative, and they both began issuing forms of paper currency. With all the hoarding of coins hard change was hard to come by and the U.S. Mint couldn’t keep up. An idea from the Treasury Department was to use postage stamps as currency, which was by no means perfect, but it was a short term solution. This led to additional legislation to issue specific Postage Currency in 1862 and 1863 which led to Fractional paper currency issued from 1863 to 1876 for transactions less than one dollar. Accounting for inflation an 1862 ‘dollar’ is equal to $35 today and an average annual wage was $750 a year. Change mattered. And that’s what brings us full circle as to why you have to be dead to appear on U.S. Currency. the United States. More on that later. What has created some confusion is you have to be dead for two years. Well, that’s not entirely true. Public Law 109-145, The Presidential $1 Coin Act of 2005, states to be on any of the Presidential one dollar coins you have to be dead for at least two years, but that’s only for the one dollar, and related Presidential coins - it doesn’t apply to any other currency. That’s why the President George H.W. Bush (41) dollar wasn’t released until 2020, two years after he passed in 2018. But that wasn’t true when the U.S. Government began issuing paper currency in 1861.
Currency, Money, Collecting, Numismatist, Numismatic, Numismatist, History, Dollar, Bank note, Banknote, Hobby, Coin, Gold, Silver, Unites States Money, Bureau of Engraving & Printing, United States Treasury, Paper Currency, Gold Certificate, Silver Certificate, Legal Tender Note, United States Note, National Banknote, Obsolete Banknote, Federal Reserve Note, Federal Reserve Bank Note, National Bank Note, Small Size Bank Notes, U.S. Mint, US Mint, Obsolete Bank note
One of my favorites so far! I guess I will be doing the “top 10 (5) notes with people who were still alive”. So many times I tried to add my own commentary to what you were saying and then the next sentence you would say was my exact thought. Then you mentally crushed me by following it up with SO much more that I didn’t know. Great topic and great video!
Steve - I'm blaming you for most my entire channel! You're the farmer planting seeds. Thanks for the kind words and appreciate the support.
Thanks Dan. Another high quality and interesting video. Funny story about Clark.
Thank you sir - would love to know more about Clark.
Another fantastic video. Quite educational.
Thank you😊
Thanks Mark - appreciate the comment.
just found your chanel , im a silver stacker/coin collector and now im getting into old currency. I appreciate the history lesson and absolutely love the artwork on these old bills. Im subbed
Thanks Michael for the kind comment. That’s my covert mission! I too collect all three for the “numismatic”. Welcome!
This was awesome! Great history and super thorough explanation. Thank you for an amazing presentation.
Thank you sir! Appreciate the kind words and comment.
Jam packed with good info! Well done 👍
Thank you sir looking forward to your next video.
Very educational. Thanks for sharing -- Almost finished binging your videos!
Emanuel thank you! That one was one of my favorites and I'm doing the same with your channel. Have to admit I'm cherry picking ones I see with currency first! I have expanded to Canadian currency, really just dipping my toe in the water. You'll see Canadian banknotes a lot in November and December as am about to put out at least series of four videos comparing the lowest denominations that Canada, US and Mexico have issued over the past 100 years. Thanks for the comment!
I appreciate all the information and history! Great Video!! ❤ 👍
Thank you Ontario.
I'd be surprised if you don't have 1k subs by the end of the year. I'm almost at 300 but I can see this taking off.
Thanks man! Appreciate your stooping by.
Great video! One of my favorite notes in my collection is a third issue 50 cents fractional Fr# 1328 because Spinner and Colby both signed the notes, so I have an autographed portrait of Spinner.
Thank you! And it’s a classic note. And if you have to have one fractional? It has to be the Spinner Note. Thanks Hoosier!
I look forward to your currency video, and have enjoyed each one fully. Thanks for taking the time and putting in the effort!
Thanks for the kind words and appreciate the support.
Fantastic background buddy.Thayer had it in for Clark,he even called him an insubordinate officer.Not much else to add except he wrote the address for centennial of the Battle of Germantown and his grandnephew,John,died on the Titanic
Well - there is the Battle of Germantown! Great additions as always!
This is such a cool topic, and you present it in such an engaging and interesting way. We'll done!
Thanks Jo - appreciate the kind words - especially coming from you.
Excellent video, thank you so much for doing this, love the history
Thanks for the kind words. Appreciate the comment.
Great video!
Thanks for the kind words and comment.
Excelente información, saludos.
¡Gracias por el comentario y el apoyo!
One last thought, as someone who is in medicine I find it intriguing as to why there are some many caduceus’s on money. What gives!
At one time, it also was associated with Hermes and denoted commerce and negotiation.
Thanks Collecting! Way to provide that info!
@Polar Currency always a pleasure. Got curious about it after watching the obsolete currency video, and it was mentioned then. So, looked into it, and that's what I found.
@@collectingonthecheap56353 well that def makes more sense
FUSS AND FEATHERS!!! 😂😂😂. Some classic taglines in this vid Polar! Sounds like politicians were always and still are full of themselves! Ashamed to say it but wasn’t aware of the other two fractional portraits of living people. I knew about and own a a spinner note. I wish I could give myself a salary increase whenever! 😂 As always really nice overlay of a currency topic. Hit all the points and some. Thanks again I really appreciate your videos!
Greatest military nick name ever - Fuss-N-Feathers! Thanks Surfer for the kind words and the comment.
@@PolarCurrency a classic for sure! Years ago when I was in Helicopter Search and Rescue Swimmer school we were referred to as “the goon squad” by our instructors as we couldn’t do anything right! 🤣
Yep, those commerative coins really bent the rules until the Special Olympics set which pretty much finalized only deceased people on any type of coins. Postage Stamps are always a fascinating sidebar, and I believe that Stamps were best at not using living people on them.
Thanks for the comment and leave it to the philatelist to follow the rules - which I appreciate.