10 Surprising Money Facts


8. Of The Secret Service, Fake Money and Nigerian Scams

The secret service is commonly thought of as protection for current and former national leaders and their families.

What many don't know is that they also safeguard the payment and financial systems of the United States, which was its originally intended role was.

Nearly a third of currency in circulation at the time of the Secret Service's inception was counterfeit. Different coins and bills were issued by each state through many banks resulting in many types of legal currency. The first Chief of the Secret Service, William Wood, a hero of the Civil War closed more than 200 counterfeiting plants in the first year. Ironically, President Abraham Lincoln was assasinated the very day that he established the Secret Service.

It was only after a president was assassinated in 1901 that they were directed to also provide security for Presidents. The Secret Service's primary investigative mission is the prevention and investigation of counterfeiting of U.S. currency, treasury securities and investigation of major fraud.  The organization battles hackers, forgeries of Govt cheques and certain instances of Nigerian Scams. Today, about $250,000 of counterfeit money turns up every day.