Name: Destini Walker
Date: 4/17/14
Teacher:
10.01 Scavenger Hunt
Complete the following Money Scavenger Hunt. Submit your answers to these
questions to the 10.01 Scavenger Hunt Dropbox.
http://www.newmoney.gov/currency/history.htm
A Brief History of Money:
1. What was the first colony to issue paper money? The Massachusetts Bay Colony
2. What does not worth a Continental mean? Money without sufficient backing that
is easily counterfeited.
3. When was the first general circulation of paper money by the federal government?
What was the nickname for this currency? 1861; greenback
4. When was the National Banking System established? 1781
5. What agency in the Federal Government is responsible for controlling counterfeiters?
The bureau of the treasury.
6. When was the Federal Reserve System established? 1913
7. What motto was placed on all currency in 1955? In God we trust.
8. The redesigned $5.00 bill features new colors and a new seal. Describe these
features.
The Story of Money (Open all links and read/take notes on the content.)
http://www.frbatlanta.org/about/tours/virtual/money/
1. Identify one pro and one con about the use of barter.
2. Identify five examples of early commodity money.
3. What money was used in 17th century Japan that had the additional benefit of
providing good luck?
4. What country used a zappozap as money?
5. What country issued the worlds first paper money?
6. What two professions developed a system of using intangible money for the first
time?
7. What was legal tender (acceptable money) in Virginia?
8. How many colonies issued their own paper currency?
9. With no central control of banking, what type of wild banks emerged?
10. What year did the government end the gold standard?
11. What is the worst enemy of a stable economy?
Fun Facts About Money
http://www.childrensmuseum.org/special_exhibits/moneyville/pop5.htm
1.What government agency prints currency?
2. What materials are used in the manufacturing process of making the paper currency?
3. What is the average life span of a dollar bill?
4. What is the average life span of a $100 dollar bill?
5. What is the largest denomination of currency in circulation today?
6. What time is on the clock in the steeple of Independence Hall on the reverse of the
$100 Federal Reserve Note?
More Fun Facts About Money
http://www.frbsf.org/federalreserve/money/funfacts.html#A3
1.By the end of the Civil War, what fraction of currency was counterfeit?
2.What countries are havens for producing most of the counterfeit money today?
Artistry and Imagery of Our Currency
http://www.frbsf.org/currency/iconography/index.html
1. Who was President when the national banking system and a uniform national
currency was established by new national banks?
2. What was the amount of tax imposed on state banks that continued to print their own
currency? (This tax effectively closed the state banks but enabled these banks to
reopen as National Banks under the control and regulation of the national system.
3. Who was President when the Federal Reserve System was established? Answer:
Woodrow Wilson
4. When was the government agency FDIC established and what do these initials stand
for? *This agency provides insurance on bank deposits up to $250,000 according to a
provision passed in 2008 that increased the amount of insurance from $100,000 to
$250,000.
5. When and why did the U.S. Treasury issue a special currency in Hawaii?
6. What percentage of counterfeit money is seized by the Secret Service before it enters
circulation?
Complete the following fun interactive that tests your currency knowledge:
http://www.bostonfed.org/education/online/fedcard/index.htm
Why is Money Valuable? To finish this section with a bit of humor, read the following
excerpt of humorist Dave Barrys new book on money, 'Dave Barry's Money Secrets'.
From National Public Radio (NPR) Dave Barry Explains the Value of a Dollar.
