How People Count Cash

This is a very interesting video on how people count cash differently in different parts of the world.
http://www.metacafe.com/watch/1098393/how_people_count_cash/

Cambodian Tontines

This is the project space for Belinda Uy, Jenny Lien, and Tanya Kim!

The concept of tontine developed in France in the late 17th century, since

then it has evolved into other variations in other cultures. Our focus

will be the practice of Cambodian Tontine in Southern California. We will

also lightly discuss more contemporary forms of tontine.

Dollar Bill Origami

Dollar bill origami is also called money origami. As its name suggests, this type of origami uses money instead of paper. Sometimes, an existing diagram can be easily converted into a money model. Other times, because of the shape of money, new sequences of steps are needed before money can be folded into a dollar bill origami model. [Photo: $shirt].

It is interesting to note that US bills are 6.14 " X 2.61" (ratio of 7:3) and Canadian dollars are 152.4 mm x 69.85 mm (ratio of 13:6). Paper money from Britain, France, Japan, China, and Australia, and the EUR are all different sizes depending on their denominations.

It is not clear when dollar bill origami began but origami historian David Lister has an article on Paper Money Folding in the BOS web site. He explains that folding paper money may have started as early as the 1800's. But it was not until the mid 1950's before money folds became significantly popular. This is documented in Robert Harbin's book Paper Magic (1956).

Delightfully folded money can be given as tips, for example, in restaurants. They can also be given as wedding present, for example, a dollar bill butterfly. It’s an interesting twist to the age-old concept of cash gifts. [Photo by S Hecht].

Dollar bill folding can be done in any country, but it is particularly popular in USA. Why is this? It is not possible to explain the tendencies of the American public, but here is

one possible reason. The lowest American dollar bill is worth $1, thus you can afford to fold and give away a dollar. In contrast, the smallest Canadian bill is $2; and in Mexico, the smallest bill is $10 neuvos peso. The smallest British note is 5 pound; and the smallest Japanese note is 1000 yen. In Europe, the smallest note is 5 euros. [Photo by C Randall].

There are many diagrams for folding $origami models. On occasion, people will use money to fold modular origami models. Here, two or more bills are folded and combined to form a larger model.

Trang Chung specializes in folding money from different countries into modular stars. Joe Gilardi made a FIT using 30 one dollar bills. Even more amazing is Stephen Watson's modular swan which is made of 500 (scanned) five-pound British notes.

Honestly, if you were to receive such a model, would you unfold it to use the money? Or leave the model folded?

more dollar bill photos

http://www.origami-resource-center.com/dollar-bill-origami.html

New Faces on Sacagawea Coin

By Jim Abrams

WASHINGTON (AP)—Congress on Tuesday approved a redesign of the Sacagawea dollar in hopes of enticing consumer and business use of the gold-colored dollar.

Under legislation passed by voice vote in the House and sent to President Bush for his signature, new editions of the coin honoring the young Shoshone who helped Lewis and Clark on their trek to the Pacific Ocean more than 200 years ago will come out in 2009.

The new coins will continue to depict Sacagawea and her child, but they will feature scenes on the reverse side, changed annually, commemorating the achievements of other Native Americans and Indian tribes.

"These designs will take the American people to a journey of different experiences of native people by exposing them to their unique histories while preserving the memories of Sacagawea," said Rep. Dale Kildee, D-Mich., sponsor of the bill.

The Sacagawea dollar was first minted in 2000 to replace the Susan B. Anthony dollar coin. But like its predecessor, it failed to win public acceptance and today is produced only for sale to collectors.

The U.S. Mint this year has produced about 7.5 million Sacagawea coins. By comparison, through July this year the Mint has made about 775 million of the new presidential $1 coins. Those coins depict U.S. presidents, starting with George Washington, with a new coin coming out every three months.

The bill requires that the newly designed Sacagawea coins comprise at least 20 percent of all $1 coins minted each year and instructs the Treasury Department to carry out an aggressive campaign to encourage commercial enterprises to accept and dispense the coins.

The designs will be decided by the secretary of the Treasury in consultation with Congress, the National Congress of American Indians, the U.S. Commission of Fine Arts and the Citizens Coinage Advisory Committee.

Among design suggestions are the Cherokee written language, the Iroquois Confederacy, the World War II codetalkers and Olympic athlete Jim Thorpe.

Currently, the reverse of the coin shows an eagle with 17 stars representing the states at the time of the 1804 Lewis and Clark expedition.

The bill is H.R. 2358

http://www.reznetnews.org/article/ap/new-faces-sacagawea-coin

Colors Magazine - Money Issue

The interactive graphic is a lot of fun: http://www.colorsmagazine.com/money/

Change he can believe in

By Jessica Levco

EVANSVILLE, Ind. - Bernard von NotHaus' self-created, "inflation-proof" Liberty Dollar may cost him a lot more than he bargained for -- his liberty.

Calling himself a "money architect," von NotHaus created the precious metal-backed Liberty Dollar as a private currency for people to use as a form of barter, instead of spending U.S. dollars. On his Web site, he compares his product to the competition that the U.S. Postal Service faced when FedEx started.

But, after a two-year investigation of his company, the federal government didn't buy von NotHaus' argument. Authorities said von NotHaus' operation is illegal and a threat to consumers. The FBI on Nov. 14 raided six of his business operations in four states, including the national headquarters in Evansville.

http://www.chicagotribune.com/news/nationworld/chi-liberty_levco_19feb19,1,5802018.story

Maxed out on credit card fees

Late payments, over-the-limit fees and finance charges can cost an arm and a leg. Here's how to avoid crippling credit.
By Jessica Dickler, CNNMoney.com staff writer
November 1 2007: 10:41 AM EDT

NEW YORK (CNNMoney.com) -- Your boss might give you a break if you're late to work a few times, but don't expect the same courtesy from your credit card issuer. Pay your bill late even once and you'll take a real hit to your financial future.

Late payment penalties on credit cards generally range from $15 to $39. But that's just the beginning. If the late fee pushes the balance on your next bill over your spending limit, then you also get hit with an over-the-limit fee (another $39).

And it doesn't end there. Going over your limit will cause the card issuer to automatically raise your interest rate, or APR, substantially.

Then there's a finance charge, which is the interest on the balance you carry on your card and can be as high as 35 percent.

Think you won't get hit again if you pay in full next month? Think again. Many banks calculate finance charges using what's called double-cycle billing, a confusing practice that averages out the balance from two bills, so you get hit with retroactive interest on your next bill as well, even if you've paid off the balance.

"Generally a late fee leads to an over-the-limit fee," said Chris Viale, president and CEO of Cambridge Credit Corp., a nonprofit credit counseling agency based in Agawam, Mass. "Once those fees are in play, the interest rate goes up to 29 to 32 percent."

http://money.cnn.com/2007/10/31/pf/raw_deal_overdraft/index.htm?postversion=2007110110