2-<\/b> \u00a0 <\/b>The study of money is called numismatics;<\/b><\/h2>\n
Numismatics is the study or collection of currency, including coins, tokens, paper money, medals and related objects. Numismatists study the physical attributes of the payment media rather than the use and function in an economy.\u00a0<\/span><\/p>\n Coins were introduced as a method of payment around the 6th or 5th century BCE. The invention of coins is still shrouded in mystery: According to Herdotous (I, 94), coins were first minted by the Lydians, while Aristotle claims that the first coins were minted by Demodike of Kyrme, the wife of King Midas of Phrygia.\u00a0<\/span><\/p>\n Paper bills were first used by the Chinese, who started carrying folding money during the Tang Dynasty (A.D. 618-907), mostly in the form of privately issued bills of credit or exchange notes and each being about the size of a sheet of A4 paper. This first paper money known as “Jiaozi” was printed by a group of merchants in Sichuan during the reign of Emperor Zhenzong back then.\u00a0<\/span><\/p>\n Germany descended into chaos in 1923 as its currency, the mark, quickly devalued. Before World War One (WWI) in 1914, a U.S. dollar was equivalent to four German marks, increasing to around 70 in 1920. In 1923, the country was crippled by the cost of WWI and the subsequent reparation payments it had to pay to other countries. By November of the same year, one dollar was equal to an eye-watering 4 trillion marks!<\/span><\/p>\n Due to the financial crisis that year, Zimbabwe’s former currency went from 1,000 ZWD per USD in September 2008 to 300 trillion several months later in February 2009. The hyperinflation led to the Zimbabwe government’s promotion of all business in foreign currencies in January 2009, chiefly the U.S. dollar, euro (EUR) and South African rand (ZAR).\u00a0<\/span><\/p>\n The economic crisis that has engulfed Venezuela since 2013 took a surprising turn in August 2018 as the Maduro government announced a massive 95% devaluation of the currency. It relaunched its currency as the bol\u00edvar soberano, replacing the erstwhile bol\u00edvar fuerte, and changed its currency code from VEF to VES.\u00a0<\/span><\/p>\n North Korea has mastered the art of counterfeiting U.S. currency, specializing in a perfect replica of our $50 and $100 bills. Their fakes are so impressive that they are referred to as \u201csuperdollars,\u201d and require specialized equipment at the Federal Reserve to be detected. As of 2019, an estimated $95 million worth of these fake bills have been identified.<\/span><\/p>\n Money laundering is a process that criminals use in an attempt to hide the illegal source of their income. By passing money through complex transfers and transactions, or through a series of businesses, the money is \u201ccleaned\u201d of its illegitimate origin and made to appear as legitimate business profits. Money laundering typically occurs in three phases: First, the initial entry or placement is the initial movement of an amount of money earned from criminal activity into some legitimate financial network or institution. Second is layering, which is the continuing transfer of the money through multiple transactions, forms, investments, or enterprises, to make it virtually impossible to trace the money back to its illegal origin. And Third is integration, it is when the money is freely used legally without the necessity to conceal it any further.<\/span>\u00a0<\/span><\/p>\n Worn out coins are melted down and used to make new coins. Worn out bills are shredded, recycled, and then made into roof shingles or fireplace logs. So the next time you buy one of those starter logs for your fireplace, you could literally be burning money!<\/span><\/p>\n Did you know that back in 1952, Albert Einstein, the greatest scientist of all time, was asked to be the President of Israel?! The newly formed Jewish state wished to honor the outstanding physicist for his contributions to science. Einstein turned the offer down but the State of Israel released a 5-lirot note in 1968 with an illustration of the scientist anyway.<\/span><\/p>\n From Australia to Trinidad and Tobago, Queen Elizabeth II’s portrait has graced the currencies of 33 different countries, more than that of any other individual. Canada was the first to use the British monarch’s image, in 1935, when it printed the 9-year-old Princess on its $20 notes.\u00a0<\/span><\/p>\n The United Nations recognizes around 180 currencies as legal tender. Although the number of the independent countries is 197 plus about dozens of dependent territories. The matter is, that some of them don’t have their own money and officially use the foreign currency.\u00a0<\/span><\/p>\n3-<\/b> \u00a0 <\/b>What was the first coin money in history?<\/b><\/h2>\n
![\"first](\"https:\/\/blog.trustply.com\/wp-content\/uploads\/2022\/03\/first-coin-and-paper-money.jpg\")
<\/p>\n4-<\/b> \u00a0 <\/b>What was the first paper money in history?<\/b><\/h2>\n
5-<\/b> \u00a0 <\/b>What are the worst currency devaluations in history?<\/b><\/h2>\n
a. \u00a0 \u00a0 The German mark (DM): 1923:<\/b><\/h3>\n
b.<\/b> \u00a0 \u00a0 <\/b>The Zimbabwean dollar (ZWD): 2008-2009:<\/b><\/h3>\n
c.<\/b>\u00a0 \u00a0 \u00a0 <\/b>The Venezuelan bolivar (VES): 2018:<\/b><\/h3>\n
\u00a06- \u00a0 Which country is the largest Counterfeiter?<\/b><\/h2>\n
7-<\/b> \u00a0 <\/b>What is Money Laundering?<\/b><\/h2>\n
8-<\/b> \u00a0 <\/b>What happens to currencies when they are worn out?<\/b><\/h2>\n
9-\u00a0 What is Einstein\u2019s picture doing on Israel\u2019s currency?<\/b><\/h2>\n
10-\u00a0 Who is appearing on more currencies than any other person?<\/b><\/h2>\n
11- How many currencies do we have in the world?<\/b><\/h2>\n
12-<\/b>\u00a0 <\/b>What are the strongest currencies in the world?<\/b><\/h2>\n
![\"\"](\"https:\/\/blog.trustply.com\/wp-content\/uploads\/2022\/03\/the-kuwaiti-dinar-300x195.jpg\")
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