Currency

Some U.S. Coins Have Ridges To Discourage Scammers

Some U.S. coins have little divots along the edges. It's not for aesthetic reasons, and, despite the common belief, wasn't initially to help the visually impaired distinguish between coin values. The ridges were introduced to prevent scammers from shaving down the sides. Get the whole story in the video below.

Why Do Some Coins Have Ridges?

The original motivation to add the ridges was to prevent scammers.

What Is Money?

Money and currency are not the same thing.

Key Facts In This Video

  1. Money is defined by three to four basic functions: 00:29

  2. A fiat currency can be exchanged for goods and services, but has no intrinsic value. 05:22

  3. Most likely, the barter system could not sustain a global economy. 10:56

Why Can't We Just Print Money To Pay Off Debt?

That would be too good to be true, clearly.

Written by Curiosity Staff November 12, 2016

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