This Is How a Dollar Bill Lives and Dies

Illustration for article titled This Is How a Dollar Bill Lives and Dies

That single that's been wadded up in your front pocket for the last two weeks? You're just a way station, my friend. Because it's seen and done more than you could ever imagine. Here's its secret history.

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The biggest surprise? Trace amounts of cocaine has been found on nearly every dollar bill in circulation. And its average life cycle is only 21 months. And they churn out over 16 million a day. All right, I give up. It's all the biggest surprise. Money! [Online Finance Degree via NextRound]

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DISCUSSION

frankurd
Arggh! there goes a...snake a snake!

I understand how new bills are issued but I'm wondering how the federal reserve gets all the worn out bills back? Is it from people depositing money to banks and then banks sending the bills to the fed? I don't know many people who go up to the bank and request to exchange their currency for newer bills but it has to take place as often as new bills are issued right?