Welcome to our fun exploration of money and game shows! Today, we’re diving into some cool stories and facts about money, from a famous eagle to the secrets of game shows. Let’s get started!
Once upon a time, in the early 1800s, a bald eagle named Peter lived at the Philadelphia Mint. Peter was quite the celebrity! He would fly around the city during the day and return to the mint every evening for six years. The mint workers loved him so much that when he passed away in an accident, they preserved him. You can still see Peter today at the Philadelphia Mint, where he inspired many eagle designs on coins.
Did you know that money can be a big deal in relationships? A survey found that people using online dating services often care more about a good credit score than fancy cars or prestigious jobs. In fact, 58% of people said a good credit score was more attractive than a luxury car! This is because many have experienced financial stress in relationships, making money a common topic of disagreement. So, being financially responsible is super important!
In the U.S., we usually see dollar bills in denominations like $1, $5, $10, $20, $50, and $100. But did you know there used to be $500, $1,000, and even $10,000 bills? The $1,000 bill was first made during the Revolutionary War and was produced until the 1940s. Although they stopped making them in 1969, some still exist today, mostly with collectors.
Have you ever noticed the ridges on some coins? They were added to prevent people from shaving off the edges of valuable coins like gold and silver. This was a clever way to stop fraud! Even though gold and silver coins aren’t used anymore, the ridges help people, especially those with visual impairments, identify coins by touch.
Thinking about joining a game show to win some cash? It’s a fun idea, but there’s a lot to know! The process can be long, with auditions and filming taking time. If you win, you might have to pay taxes on your prize. For example, a million-dollar winner once had to pay around $400,000 in taxes! Plus, you might have to wait for your prize and keep it a secret until the show airs.
So, there you have it! A peek into the world of money and game shows. We hope you enjoyed learning these interesting facts. Stay curious and keep exploring!
Imagine you’re a designer at the Philadelphia Mint, just like those who were inspired by Peter the Eagle. Design your own coin featuring an animal or symbol that represents something important to you. Draw your design on paper and explain why you chose this particular symbol.
Gather in small groups and create your own game show. Assign roles such as host, contestants, and audience members. Develop questions related to money facts, like the history of U.S. currency or the importance of credit scores. Perform your game show for the class and see who wins the most points!
Choose one of the historical U.S. bills, such as the $500, $1,000, or $10,000 bill. Research its history and significance. Create a short presentation to share with the class, including interesting facts and why these bills are no longer in circulation.
Conduct an experiment to understand the purpose of ridges on coins. Gather different coins and try to identify them by touch alone, without looking. Discuss how the ridges help people, especially those with visual impairments, and why they were originally added to coins.
Calculate the potential taxes on a game show prize. Imagine you won $1,000,000 on a game show. Research the current tax rate for such winnings and calculate how much you would actually take home after taxes. Discuss how taxes can impact the value of prizes and why it’s important to be aware of them.
Here’s a sanitized version of the provided YouTube transcript:
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Hello and welcome to Mental Floss video! Today, we’re going to talk all about money, from an eagle that once resided in a U.S. Mint to why some coins have ridges, and even some behind-the-scenes secrets of game shows. This episode is presented by Discover Card. Let’s get started!
We’re kicking off our episode on money with a story about a historic bald eagle named Peter. He lived at the Philadelphia Mint during the early 19th century. Peter would fly around Philadelphia during the day but returned to the mint every evening for about six years. The mint employees were very fond of him. According to legend, on the Fourth of July one year, he landed in a tree where a crowd gathered to watch him. An employee coaxed him down, saying, “He loves me as if he were my own son.” Sadly, Peter died in an accident at the mint, and the employees contributed money to have him preserved. You can visit Peter in the lobby of the Philadelphia Mint today. Over the years, he has served as a model for coin designs featuring eagles.
Now, let’s discuss the importance of finances in relationships. A 2017 survey by Discover Card and Match Media Group of 2,000 American adults using online dating services revealed some interesting insights. The big takeaway? If you’re into online dating, you might want to focus more on your credit score than your physical appearance. The survey found that 58% of respondents considered a good credit score more attractive than driving a fancy car. Additionally, 50% said a high credit score was more appealing than a prestigious job title, and 40% ranked it above physical fitness.
Why are daters so interested in credit scores? The survey indicated that over half of respondents experienced financial strain in previous or current relationships, making money a more common source of disagreement than politics or children. Financial responsibility was deemed very or extremely important by 69% of respondents, ranking higher than traits like a sense of humor or courage.
Now that we’ve covered the significance of discussing finances, Discover Card offers a free credit score card for everyone, even if you’re not a customer.
In the U.S., the dollar bill denominations produced are $1, $2, $5, $10, $20, $50, and $100. Historically, there have been higher denominations, including $500, $1,000, $5,000, and even a $10,000 bill. In the 1930s, there was a $100,000 bill, but it was never in circulation.
Let’s focus on the history of the $1,000 bill. Its production dates back to the Revolutionary War when different forms of paper money were used. In 1878, silver certificates were introduced, including a $1,000 silver certificate that lasted about a century. The Federal Reserve System was created in 1913, and by 1918, they began producing larger bills. However, production of the $1,000 bill ended in the 1940s, and while it was announced in 1969 that they would no longer be distributed, there are still approximately 165,732 of them in existence, mostly held by collectors.
Now, why do some U.S. coins have ridges? The U.S. Mint was established in 1792, and the Coinage Act laid out rules for coin production. To prevent fraud, where individuals would shave the edges of valuable coins, ridges were added to make it noticeable if someone tampered with them. Coins like pennies and nickels kept their smooth edges because they weren’t targeted for fraud. Although gold and silver coins were phased out, the ridges remained for practical reasons, including aiding those with visual impairments.
If you’re interested in making some extra cash, game shows might be an option. However, be prepared for a lengthy process that includes waiting for auditions and filming. Many shows are filmed in bulk, and if you win, you may have to deal with paperwork and taxes. For example, a contestant who won a million dollars in 1999 faced an estimated $400,000 in taxes.
Additionally, if you win a physical prize, you may have to pay taxes before receiving it. There can be a significant wait time for prize delivery, and you might have to keep your winnings a secret until the episode airs. Some shows require contestants to sign contracts that restrict them from revealing outcomes before airing.
So, there you have it—a brief introduction to game show participation and the complexities of making money through them. Thanks for watching this episode of Mental Floss video, presented by Discover Card. Please subscribe to our channel for more engaging content, and don’t forget to be awesome!
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This version removes any unnecessary details and maintains a professional tone while preserving the core information.
Money – A medium of exchange used to facilitate transactions for goods and services. – In ancient times, people used shells as money to trade for food and tools.
Eagle – A symbol often used on currency to represent strength and freedom. – The American eagle is featured on the back of the quarter, a common coin in the United States.
Relationships – The connections or interactions between people, groups, or countries, often influencing economic activities. – Trade relationships between countries can lead to economic growth and prosperity.
Credit – The ability to borrow money or access goods or services with the understanding that payment will be made in the future. – Using credit wisely can help individuals build a good financial reputation.
Bills – Paper money issued by a government, used as a form of currency. – The $20 bill is one of the most commonly used denominations in the United States.
Coins – Metal pieces used as money, typically issued by a government. – Collecting coins from different countries can teach us about their history and culture.
Fraud – Wrongful or criminal deception intended to result in financial or personal gain. – The government has strict laws to prevent fraud and protect consumers from scams.
Taxes – Mandatory contributions levied by a government on individuals and businesses to fund public services and infrastructure. – Paying taxes helps support schools, roads, and emergency services in our community.
Game – A structured form of play, often used to simulate economic scenarios or teach historical events. – The board game “Monopoly” is designed to teach players about buying property and managing money.
History – The study of past events, particularly in human affairs, which can influence current economic and social conditions. – Understanding the history of the Great Depression helps us learn how economic policies can impact people’s lives.
