New York CNN —Unless you’re an avid currency collector, an employee of the Bureau of Engraving and Printing, or work at the Federal Reserve, you likely didn’t know that last year a record number of $50 bills were printed.
Last year, the government printed 756,096,000 of those bills — the highest total of the denomination printed in one year in more than 40 years.
In 2019, only 3.5% of all US bills printed were $50s.
To understand why so many $50 bills were printed, it’s important to know how the system of printing money works.
But, more likely, and more realistically, people tend to avoid using $50 bills due to them being confused with $5 or $20 bills and many stores not accepting bills larger than $20.
Persons:
Ken Cedeno, Ulysses S, Grant, wasn’t, Patrick McHenry, Ronald Reagan, Bugsy Siegel
Organizations:
New, New York CNN, Engraving, Federal Reserve, Yum Brands, Inc, Eccles Federal, Washington DC, Fed, San Francisco Fed, US, North Carolina Republican, Centers for Disease Control
Locations:
New York, Washington, North Carolina, Vegas, United States