 It's sort of like trading when you give somebody something and they give you something and when you earn it You're either buying to save it or spend it and the best thing to do is spend it because I mean save it You need money like to keep your family going and to pay your bills and to buy supplies that you need for yourself and All kinds of things If you saw Penny lying in the street, what would you do? Me I always pick them up now. They may not look like much, but pennies really do have a way of adding up In fact, this penny right here is one of 9 billion produced in the past year Now let's say you decide to take all those pennies and line them up side-by-side Did you know you would have enough pennies to circle the earth not once Not twice, but four times If you had your eye on a brand-new pair of sneakers or the latest video cartridge or Even a brand-new bike being money would really be important But that's another story money is more than the things you can buy with it Money is something that connects us all and although you and I can't live without money Believe it or not. There was a time before there was Imagine what a time like that must have been like Long ago before malls music videos or money people traded for things they needed So while Ozzy offered a cow for Connie's chickens Sue swapped salt for Pete's pots This approach called the barter system had its drawbacks Suppose something is worth half a cow. How do you make change? People soon realized that using one common item would make trading easier in different places people tried different things including tea seashells fish hooks furs and a weapons in Some places people started using rare metals the ancient Egyptians shaped gold into rings The Chinese used cubes of gold The first coins were made in Western Turkey. There were small bean-shaped pellets Gold and silver coins were ideal. They were widely accepted easy to carry and long lasting and you could make change and save your wealth Of course, there were still a few drawbacks You know in colonial times people traded foreign coins of gold and silver Just like this one This Spanish milled dollar is over 200 years old So you see their history of today's money began with coins just like this The pine tree shilling was the first coin made in the American colonies and minting it was a crime The British banned the manufacturer of the money in the colonies, but the Massachusetts mint made the shillings anyway Don't be fooled by that 1652 date They used that date year after year so the British wouldn't know they were still in business The situation finally changed during the American revolution Consonant currency was printed to pay for that war But the new government printed too much of it and the bills were soon worthless With independence came the right to produce money to handle this important job The US Mint was established in 1792 The Mint began with copper pennies and moved on to gold and silver coins The notes included beautiful illustrations by engravers Just like today these detailed pictures made the bills much tougher to counterfeit The federal government got into the paper money business during the Civil War and Since the backs of the bills were printed in green ink. They were called green backs You know our money system has changed a lot since the Civil War But dollar bill is still green on the back So before you spend your next one take a close look at it a real close look This pyramid is a symbol of our lasting strength. It's unfinished because our country is still growing Then there's the floating eye in the sky the eye represents God watching over our country Every bill says in God we trust Now over here an eagle holds arrows of war in one claw and An olive branch of peace in the other the 13 leaves arrows and stars Stand for the 13 original American colonies You know some people find money so interesting that instead of just spending it They also collect it and they don't have to be millionaires to do it So let's meet some young collectors right now. This is vanishing Andy Tom and Rachel. Hi. How are you guys? Good, let's come over here to vanishing Tell me about your bill collection here Well, this is a silver certificate and this was made a long time ago But now they've stopped making it and they've made and over here. It's a silver certificate now They make it a federal reserve note And what about this one back here? I've noticed it's a two dollar bill and it was made in 676 and the president is Jefferson. Mm-hmm, but they're on a lot of those. That's pretty nice. Thanks Now Andy tell me about your coin collection. Give me a tour okay, those pennies are basically wheat backs and Indian heads now. Why is this Indian head penny separated from all the rest? What's that special? It's my best Indian head and What makes that so special for you? I got that on my birthday. Oh great Thanks a lot Andy Let's move on to Tom. Tom tell me about your collection here. Well, I collect mostly American coins That are silver or at least parts over. Okay. I noticed you have a penny a dime nickel half dollar dollar Why are all these coins separated from the rest of these? What makes them special? They're proofs That means I have special finishes and they're really shiny And they're real valuable so you don't want to take them out of this case you want to keep them in there and keep them clean Okay, thanks Tom Hi, Rachel. Hi. Now. I noticed something very very special about your coins, especially your pennies They don't look like they're all there Tell me about that. Okay. Well, this is a regular Lincoln temp And as you can see these are our coins Which means that only part of it was struck and then here a lot of it wasn't struck in here None of it was struck. Mm-hmm. Now. I also see something engine because I see these pennies are also not struck properly But what about this penny up there? This is a steal sense And it was made during World War two because they were using all the Copper to make the bullets and they decided that they didn't want to waste it on pennies And they made these kind of pennies for a year, but then they stopped that really is interesting Well, I want to thank you guys. It's a really great collection here So there you have it. We started out swapping cows for chickens and ended up with this a Way of moving billions of dollars through our country so simple that it fits in the palm of your hand Just point factory in the world, you know, there are US government men's in Denver, Colorado San Francisco, California and West Point, New York But this one right here in Philadelphia, Pennsylvania is the largest They make over 30 million coins a day Besides the regular coins we spend every day the mint also makes these special commemoratives metals and Golden silver coins, which anybody can buy Imagine having a coin collection like this and now a demonstration This coin press is over 120 years old and it still works So I'm going to press my own commemorative metal Behold an ordinary blank piece of metal Now this metal commemorates the 200th anniversary of the mint Now take a close look Every coin and metal made at the mint is a beautiful piece of art In fact, I'm gonna take you upstairs and introduce you to some of the people who designed them We're now in the engraving room this is the room where all the coins in the mint are designed in fact We're gonna be speaking with one of the designers now. This is Jim Ferrell. Hi, Jim. How are you? Hi, Deborah? How are you? I'm fine. Thanks. What are you doing? Well, I'm working on a design for the World Cup commemorative coin set. This is the front side of the dollar coin Now this isn't a regular coin. This is actually a commemorative coin That's right, and this was the concept that was selected for this piece Now I noticed there's not a lot of detail in the original the face the muscles. Where did you get all this detail from? Well, I'll redraw this design and by using reference material and photographs of soccer players and Also close-up shots of my co-workers hands and arms and legs I will incorporate all that into this drawing to try to make it look realistic Question I mean even still I could only draw stick figures and your artwork is wonderful I mean, how long have you been doing something like this? I've been working at this now for 25 years Wow, that's a long time But the detail is so wonderful in that how do you get all that detail from this drawing onto a coin? well, we will take a tracing of this and Transfer to a plaster basin now. I can show you someone working on that now if you want to follow me. Okay And ever this is John mercanti, thanks. Hi Deborah. Hi John. How are you? Thanks? Thanks? So what are you doing Deborah? This is the 50 cent piece for the World Cup commemorative program, and I'm interpreting the pencil drawing into a clay model Now did you draw this yourself? Yes, I did now what are these instruments for these are various tools that I use in the Course of the modeling and some of them as you can see are finer than the others and of course I'll use the very fine ones to get and do a lot of detail so these really help you get the details like in the hair Absolutely, and how how fine a detail can you get we can we can get very fine detail as an example I'm working on the socks here So if you look very closely as I work on it you can see that I can get right down in there and Pick up all the detail at the top of the sock So it's not just an engraving job. This really is a lot of artwork involved. Oh, absolutely I've always I've always said the children that they carry an art gallery in their pocket definitely so What's next? Well from this stage we go into a plaster model and Ed stevers over there working on a plaster model I'm sure they'd be very glad to show you what he's working on. Okay. Okay. Thanks. Bye. Bye. Bye And hi nice to see you Debbie. Well nice to see you too. Thanks for coming. Thanks Now this I recognize this is the United States of America quarter exactly Listen, I was just speaking with John who had made a plaster model and then he had the clay model over top So what's next fixing up the details getting them all on a good sharp condition for continuing the coinage Now I noticed something I wouldn't normally recognize on a regular quarter. What does this s stand for? This is the s mint mark tells in which it's made in the United States This s stands for San Francisco where the one will be struck I also see some detail down here tiny detail. They look like initials J. F. John Flanagan was a sculptor and who made the models in 1932 so this quarter design right here is all the way from the 1930s up until now That's really interesting. So what happens next now? It has to be copied from an original Plaster into a rubber negative and so we can make several and that's exactly the same dimensions That shrinkage and then we pour plastic over it and that's nice and strong And then you want to have something that's durable. It's an epoxy Model which will withstand machining Now see I'm not used to seeing a coin this big So how would we take this model finally and make it smaller? Well, you take it into the transfer engraving machine Her room and they will show you exactly how it gets reduced Okay, thanks a lot So this is the transfer room, you know what let's talk to Tony and find out what goes on Hi Tony, hi Deborah. How are you? I'm fine. Thanks now this I recognize This is an epoxy model of the back of the quarter and we saw the front in the engraving room But what are you doing to the back of the quarter what I'm doing here? Deborah is on preparing this model to reduce it to an actual coin size, which happens to be 10 to 1 So this is 10 times the size of the actual quarter that you're gonna make right Seems like a lot of math to me. Yes, it is now. What are these? They're the actual dies that will strike the coin now when you say strike you actually mean strike. Yes Wow But still how are you going to get this model to look exactly like this? Well, let me show you okay Well, Deborah, this is our transfer reducing machine and this particular machine is about a hundred years old Wow And what we do here with it is we transfer from the model size to the actual coin size How does the machine do that? It does that by tracing over all the artwork and the cutter cutting it into the steel. It's moving so slowly It looks like it takes so long Yeah, it takes approximately three days. It is a long time. Okay, so when this gets done. What's next? Well, I think you're headed to the press room. Okay, and you'll need these Goggles and earplugs. What am I gonna need goggles and earplugs for? You'll find out work starts here at the blanking press This coiled roll of metal is as long as five football fields. It'll be used to make 325,000 nickels long ago most coins had some gold or silver in them today Most are made from a blend of nickel and copper And just like a giant cookie cutter this press punches out blanks Blanks end up over here The rest of the metal is shredded and recycled And some of it is melted into little bars called pigs Believe me, there's no metal wasted at the mint The blanks move on to furnaces where they're heated Washed the blanks are still warm as they move on to their next stop The riddling machine the shaking riddler screen sifts out any blanks that are the wrong size or shape The riddled blanks tumble into the upsetting machine The upsetter raises the edges of the blanks just slightly The blanks keep on moving the next stop the coining presses and Here are the high-speed presses in action The fastest ones punch out 12 points a second. It's so fast you almost can't see what's happening Now take a close look at the results The minted coins are spot-checked for quality Then the counted and bag Sack of pennies holds $50 and dimes are packed $1,000 per bag Stored until it's needed Every bag you see here is filled with coins Coins are the only kind of money that the mint produces, but it's not the only kind of money in your pocket What about the billions of paper dollars we use? Welcome to the Bureau of Engraving and Printing the Bureau produces paper money in Washington, DC and Fort Worth, Texas This year more than eight billion nodes will be printed and if you could stack them in a single pile Those bills would reach 543 miles straight up it takes 65 steps to make each bill and just like coins it all begins here in the engraving department Just look at that detail Those carefully etched lines make life tough on counterfeiters. This work is nearly impossible to copy The artwork on a single bill is actually the work of many different engravers All the engravings are combined on this machine called a transfer press The talented people who operate these machines are Citrographers There are only a few specially trained citrographers in the entire world a Citrographer creates a master plate on the transfer press From the master a printing plate is made Each plate prints 32 bills at one time The printing plate is mounted on a high speed press 8,000 sheets pass through in an hour enough to make over 250,000 bills Sheets of currency are run through the presses several times first the green backs are printed and Then the fronts Next the sheets are cut in half and checked for printing flaws Rejects called muts are removed and destroyed The good bills are printed one final time with the treasury and federal reserve seals at the same time a Unique serial number is assigned to each bill the finished bills are cut and Sorted into 100 note packets and inspected one last time Finally they're wrapped in 4,000 note bricks for shipping now. They're ready to go Never ending job those presses just keep on rolling to meet the demands for new coins and bills You know Some of the coins from this truck could end up in your pocket And now you know what it took to make them there goes another truckload of newly minted coins and right on time I might add oh time that reminds me I've got to go and put another quarter in the parking meter So I'll see you guys later. How was that? It was great. Oh good. Okay, folks. Let's wrap it up. We'll see you on Monday We're done. Here's some last-minute changes for next week. Okay Oh, and this is for you. Thanks. Paycheck. All right Money money money money. Well, you guys didn't think I did this just for fun. Did you? Coins and paper money That's only part of the money story, but a check like this one is money in the bank Instead of stuffing their money into empty mayonnaise jars or piggy banks many people save their money in bank accounts Now when they need to use their money they can write a check cash a check or take money out of their bank account electronically with one of these Banks also pay interest on money that people save which means extra cash for you and Make loans to people who need them Did you know that all that saving and investing adds to the wealth of our country? I like to fool around with a lot of things, but not my money I'm depositing my paycheck into my checking account most of that will go to pay bills I'm also saving a little for a rainy day and With drawing a little cash for the weekend Thanks, Tom Whether you have a lot of money or just a little you need to keep track of it very very carefully Hey How about you? How do you get your money? What do you do with it? I get money by babysitting helping My grandma and sometimes I go to the store for people and they give me money and every week I get allowance I work for my money I go pick blueberry and strawberry over the summer I hope that I'm senior citizens on my block I go to the store for them and I help clean around the house for them and I do chores in my house Sometimes the litter box I actually don't get a big allowance I just get some money when I need it and sometimes if I want some money like if I'm going somewhere Then they'll give me some money Yesterday we had a flea market and I sold some of my stuff and I made $40. I spent 20 of it and I saved 20 So I try to save up a little and spend some when the people pay me I put it in a bank and I have my little book or whatever I spend But I'm really saving up for a CD player in my room There's this box and sometimes I put my money in there and then like a week later I see how much money I have and stuff I collect coins and I have them in a hat that I specially keep and I hide it in a special place I save my money in my piggy bank I'm not afraid to say that I got a piggy bank. So what? I spend my money on baseball cards and Nintendo games and other toys like G.I. Joe's and stuff Usually clothes Because I don't know. I just I like to get new clothes, but sometimes I spend it on candy or something Just regular kid stuff, I guess when I do get allowance. I usually spend it on maybe jewelry and presents for people Sometimes if I have like if I get in trouble at home And I have money on me and my mom and I feel that my mom is probably gonna do something I usually go to the store and buy some flowers and they'll calm her down And sometimes I look at my sister money if she needs it she pays me back So I I do a lot of things with my money. I'm not selfish. I don't get it to myself in time I Don't spend my money on anything. I prefer to save it when I say mine I want to be a lawyer when I grow up So that's why I start saving for my college and that's why I put in a bank account I think they would not grow up. I'm gonna have a lot of money So I think that I should be rolling in the big butts You and I can keep track of our money without too much trouble, but what about an entire country? Managing that much money must be a colossal challenge. Now when you watch our nation's money factories in action Managing that much money is easy need a little more. Just keep printing Okay, oh they stop the presses Actually, it's not that easy the total amount of money in our nation's economy has to be carefully controlled and That's a job for the Fed The Fed is a nickname for the Federal Reserve system It consists of 12 regional banks including this one in San Francisco, California The Fed is the bankers bank Local banks that we use keep a certain amount of money deposited there And that money arrives it's sorted counted and stored Worn out bills are removed and replaced by brand new ones The Fed gets new money from the Bureau of Engraving and Printing and the Mint The Fed's vault is a giant storehouse where money is held until banks need it But the Fed's job doesn't stop there. They help control the amount of money in society and here's how they do it Here are the money factories that produce coins and currency Over here are the banks plus people like you and me and In the middle is the Fed The Fed works like a dam in a river of money heading into our economy When there's too little money flowing people spend less and our economy is in danger of drying up So the Fed increases the amount of money to get the economy moving Sometimes our society starts to get flooded with too much money Then the Fed slows the flow The right amount of money in circulation helps keep our economy rolling along The Fed has another important job to destroy old and damaged currency so it can't be used again A dollar bill is durable, but after 18 months of hand-to-hand combat many of them are worn out Old bills are canceled then they go on their final journey to the shredder Now you know that all money from pennies to paychecks to dollar bills is connected Money ties us all together whenever we find it or earn it spend it pretzel, please Thanks Or give it away So use the money that you have wisely Remember taking care of money Makes sense How is that All the props oh no Yeah, but you see this is a prop all props must be accounted for thank you didn't account for this prop did you Rob?