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How Many U.S. Dollar Bills Are There in Circulation?

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How Many U.S. Dollar Bills Are There in Circulation?

How Many U.S. Dollar Bills Are There in Circulation?

When you think about it, the journey of each individual currency note is pretty incredible.

After being printed or minted, each bill is then passed between people and businesses to facilitate transactions. If it’s a $1 or $5 bill, it changes hands on average about 110 times per year – and if it’s a $20 bill, it’s more like 75. The interesting part is that almost every transaction is linked to the one before it, and the series of subsequent transactions for each bill creates a unique, broad story.

By the time a bill is retired, it would have facilitated many hundreds of transactions that enabled everything from the purchase of used cars to the shadier deals in underground markets. It’s a pretty interesting tale for such a little piece of paper.

Dollar Bills, in Aggregate

Today’s infographic from TitleMax gives a sense of what happens when all of those individual stories are combined together into one large one: the U.S. supply of currency notes, the shelf life of each type of bill, and how the whole system works as a whole.

In total, there is a total of about $1.5 trillion in U.S. physical currency in circulation, and roughly 80% of this value comes from the 11.5 billion $100 notes that are in circulation.

NoteNumber of bills in circulation
$1 bill11.7 billion
$2 bill1.2 billion
$5 bill2.8 billion
$10 bill1.9 billion
$20 bill8.9 billion
$50 bill1.7 billion
$100 bill11.5 billion

Of course, as we showed in All the World’s Money and Markets, this is just a fraction of the total money that exists as a whole, which includes digital deposits and liquidity added by central banks. That’s why, in the U.S. today, there’s about $14 trillion in total money supply (M2), of which physical currency makes up only about 11% of the total value.

Turnover Per Bill

Every year, the U.S. Bureau of Engraving and Printing is responsible for printing new dollars – and interestingly, 70% of these new bills are used to replace older notes going out of circulation.

That raises the question: how long does each bill last on average?

NoteAverage Life Span
$1 bill5.8 years
$5 bill5.5 years
$10 bill4.5 years
$20 bill7.9 years
$50 bill8.5 years
$100 bill15.0 years

This means that printers are mostly turning out new batches of $1 and $20 bills, since there are more of those in circulation than most other bills.

At the same time, many new $100 notes are also being printed as well since they are the second most common bill. However, these last 2-3x as long as smaller denominations.

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Personal Finance

Mapped: Federal Tax Paid Per Capita Across Canada

We show which provinces and territories pay the most and least tax after adjusting for the number of tax filers in each jurisdiction.

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A Canadian map of federal tax paid per capita with the values for BC, Alberta, NWT, Ontario and Quebec as question marks

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The following content is sponsored by Fidelity Investments

Mapped: Federal Tax Paid Per Capita Across Canada

Which parts of Canada pay the most personal tax? In 2021, according to the latest available data, people in Ontario paid by far the greatest share: 42% of the total. Of course, Ontario is also the most populated province.

But if we look at which parts of the country paid the most and least taxes on a per capita basis, the picture looks different. In this graphic from Fidelity Investments, we show the amount paid per tax filer for each province and territory.

A Breakdown of Tax Per Person

We took the total personal federal tax paid in each province according to 2021 tax filing data from the Canada Revenue Agency. We then divided the total tax paid by the number of people filing taxes in the province. Below, we rank the provinces and territories from least to most taxes on this basis.

Province or TerritoryFederal Tax Paid Per Person
New Brunswick$4,186
Prince Edward Island$4,491
Nova Scotia$4,708
Manitoba$5,001
Newfoundland and Labrador$5,033
Quebec$5,352
Saskatchewan$5,596
Nunavut$6,314
British Columbia$6,828
Yukon$6,897
Ontario$6,969
Alberta$7,608
Northwest Territories$7,876
All of Canada$6,368

All of Canada is calculated as the total federal taxes paid in Canada divided by the total number of tax filers in Canada.

New Brunswick paid the least taxes on a per capita basis. Within the province, 13% of people worked in retail jobs, the highest proportion nationally. Retail positions in New Brunswick earned $34,000 annually on average. As a whole, 71% of people in New Brunswick earned less than $49,000 per year.

The Highest Taxes Per Capita

The Northwest Territories (NWT) paid the most taxes relative to the number of tax filers. Public administration workers made up nearly a quarter of tax filers, four times the national share of 6%. These workers, which include local, provincial, federal, and aboriginal government employees, had an average annual income of $120,000 in the NWT.

Additionally, the territory also had a relatively high proportion of people working in mining, who earned $221,000 a year on average.

However, it’s important to note that the NWT faces a high cost of living. On average, households in the capital city of Yellowknife paid 28% more for food and 47% more for shelter than the average Canadian household in 2021.

On a per person basis, Ontario paid the third highest taxes in Canada. The province had the highest proportion of finance and insurance workers, who earned $106,000 annually.

Reducing Your Taxes

Generally, a higher income leads to higher taxes. However, you can explore allowable deductions such as RRSP contributions to save more of your money.

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Use Fidelity’s income tax calculator to quickly estimate your taxes.

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