Spooky season is officially here, and what better way to celebrate than with some strange and unusual facts? Banking may not seem all that weird (and we do our best to keep it that way 😊), but believe it or not, banking has quite the odd history. Here are a few unusual banking facts you probably didn’t know.
Carrier Pigeons
Pigeons were used to carry stock prices, market updates, currency exchange rates, and financial news before the telegraph’s network completion in Europe. Pigeons often arrived faster than trains and were surprisingly accurate.
Fun fact–carrier pigeons are still used today! Odisha, India’s police force uses pigeons to transmit messages to remote areas, and the pigeons are credited with saving lives during devastating floods. Who would have thought?
The Cursed $2 Bill
Once tied to gambling, bribery, and horse racing, the $2 bill gained a reputation for being cursed or unlucky. Today, however, it’s often seen as a lucky charm instead.
Most Haunted Bank in the U.S.
First Bank of the United States in Philadelphia is rumored to be haunted by Alexander Hamilton himself, whose ghost has allegedly been seen pacing the halls. People who stand close to the bank to take pictures report their phone and camera batteries draining quickly. The bank is closed to the public but is a popular stop along ghost tours.
Wooden and Copper Banknotes
When resources were scarce during World War II, some banks in Germany and Austria printed emergency banknotes on wood, leather, and playing cards.
In the 1600s, Sweden used enormous copper coins that weighed up to 40 pounds. Eventually they switched to paper money (wonder why?).
The $100,000 Bill
The U.S. printed a $100,000 bill in 1934, the highest denomination ever issued. It was only used for transactions between Federal Reserve Banks and not the general public (imagine losing that!)
The Humble Lemonade Stand: Key to Becoming a Billionaire?
Kids who set up lemonade stands may be onto something. Many billionaires have reported selling lemonade as a child, namely Warren Buffett.
The Piggy…Jar?
Piggy banks trace back to the Middle Ages, but they weren’t shaped like pigs then. Instead, people used jars made out of orange clay called pygg. Over time, potters started shaping them like pigs as a pun.
Banking Has Come a Long Way
From pigeons and piggy banks to phantom Founding Fathers, banking history is full of unusual stories. We like to keep modern banking a little less spooky, but it’s fun to remember that even finance has its share of legends and surprises.
