BusinessEverything for $2 dollars…: Is it the end of the era of...

    Everything for $2 dollars…: Is it the end of the era of the $1 offers?

    Everything for $2 dollars…: Is it the end of the era of the $1 offers?

    The vertiginous inflation in the country, which last August reached 8.3% year-on-year, is leading Little by little it becomes more difficult to buy a lot with a dollar these days.

    In some food stalls, the $1 dollar pizza has disappeared, while, on the other hand, the dollar stores no longer offer the same offers as before, although they have not ceased to be attractive to a sector of the population.

    Although it is one of the most undervalued denominations by many Americans, –before myths such as that they are rare, they are not printed or they have stopped circulating–, it can represent a lighter option to carry in wallets, cleaner and more efficient.

    These notes tend to be used infrequently and last longer in circulation. The Fed typically orders them every few years and has a low inventory. $2 bills represent only 0.001% of the value of the $2 trillion in currency in circulationaccording to CNN.

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    In 2020, there were 1.4 billion $2 bills in circulation. It is estimated that throughout 2020 the Bureau of Engraving and Printing (BEP) of the Department of the Treasury, print up to 204 million $2 dollar billsaccording to the Federal Reserve System.

    The first time the note was used was from 1862 when the federal government began printing paper money. Alexander Hamilton’s portrait appeared in them until in 1869 he was replaced by Thomas Jefferson.

    Two Buckaroo blogger Heather McCabe said many Americans have some pretty dubious assumptions about the bill as long as they don’t use it.

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    During the 1920s it was believed that whoever sat in a game of chance with this bill was unlucky. Some superstitious people would tear off the corners of the bill to “reverse” the supposed curse by making the bills unusable.

    At the beginning of the last century, the Treasury Department tried to popularize the use of the bill on several occasions, without having the desired success. Until 1966 he stopped printing them “due to lack of public demand”, but a decade later he designed a new series alluding to the signing of the Declaration of Independence on the back. The new launch also did not have the desired success.

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    There are possible explanations for the little use of the ticket. Some say that Americans are used to using multiples of $1 and $5others point out that the cash registers did not have spaces to store them, according to their first designs.

    What is a fact is that, in the midst of inflation, carrying them can be synonymous with greater practicality.

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    Source: La Opinion

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