On a recent trip to the Money Museum at the Federal Reserve
Bank of Chicago, I not only learned some interesting factoids about the history
of American currency, I had the chance to see several perspective-changing
displays. They made me think differently about money — and books.
First, there was a small plastic bag the size of
a wallet that was filled with old, shredded currency. Every day, Reserve Banks
shred millions of dollars in unfit currency and replace the money with newly
minted bills.
The bag held $396 worth of 21 mixed denomination
bills that were taken out of circulation. It looks like withered grass scraps
in a neatly disposed bag. It was in an unrecognizable form, a distortion of
what had been. Not long ago the contents could pay for food, medicine, sex,
concert tickets, toys, and other valued items or fun events. Now, it is just a
sack of worthless scraps.
Are books this way, at once valued and then
suddenly, not?
You start out with a new book, read it, think
about it, display it, talk about it, recommend it, loan it, and maybe reread
it. Time goes by and you have moved on. You forget about it, outgrow it and go
on to read many more books. It eventually gets donated or grasp — tossed in the
recycling bin. From words on a page that could change your life to mere pulp.
Like the song says about a person he used to
love: “Now you’re just someone that I used to know.” Life changes just like
that, from money and books to relationships and anything else.
The second visual that left an impression on me
was to see a million dollars. In fact, there were two displays. One was a cube,
maybe four feet by four feet by four feet. It held one million dollar bills. It
weighs one ton.
I thought, even if I could break in, escape, and
cart it away, I could only get away with $75,000 to $100,000, which would weigh
150-200 pounds. Still, it was fascinating to see a million dollars in
person, and yet, because they were taken out of circulation, are worthless,
unless recipients don’t realize it. After all, who even looks at a one-dollar bill?
Then, I saw a display of another million
dollars, and this one was literally just five percent the size of the first
one, stuffed with 50, 000 $20 bills. I calculate it would weigh a hundred
pounds. Now, that is portable, but alas, the security there would not permit me
to abscond with the out-of-circulation money.
The displays show you how something can be worth
the same amount but look a lot different. Books are the same. Actually, maybe
the opposite. You can spend the same amount on several different books but they
would not be worth the same amount to the reader. And, just because you buy a
bigger physical book doesn’t mean it is as valuable or more valuable as a
smaller or shorter book.
Lastly, the museum shows that the form of money
does not matter as much as the collective agreement on its value. Today, we pay
with plastic, digital currency, coins, dollar bills, checks, and IOUs.
And today, books are no longer just hardcover
tomes. There are audiobooks, ebooks, trade paperbacks, mass market paperbacks,
and gift editions. The quality of the content is king and the format one
consumes it in is secondary— but I do still treasure books on paper.
Books, like money, connects us to one another. I
can’t imagine a world without either one.
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About Brian Feinblum
This award-winning blog has generated over
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For
the past three decades, Brian Feinblum has helped thousands of authors. He
formed his own book publicity firm in 2020. Prior to that, for 21 years as the
head of marketing for the nation’s largest book publicity firm, and as the
director of publicity at two independent presses, Brian has worked with many
first-time, self-published, authors of all genres, right along with
best-selling authors and celebrities such as: Dr. Ruth, Mark Victor Hansen,
Joseph Finder, Katherine Spurway, Neil Rackham, Harvey Mackay, Ken Blanchard,
Stephen Covey, Warren Adler, Cindy Adams, Todd Duncan, Susan RoAne, John C.
Maxwell, Jeff Foxworthy, Seth Godin, and Henry Winkler.
His
writings are often featured in The Writer and IBPA’s
The Independent (https://pubspot.ibpa-online.org/article/whats-needed-to-promote-a-book-successfully).
He
hosted a panel on book publicity for Book Expo America several years ago, and
has spoken at ASJA, BookCAMP, Independent Book Publishers Association Sarah
Lawrence College, Nonfiction Writers Association, Cape Cod Writers Association,
Willamette (Portland) Writers Association, APEX, Morgan James Publishing, and
Connecticut Authors and Publishers Association. He served as a judge for the
2024 IBPA Book Awards.
His
letters-to-the-editor have been published in The Wall Street Journal,
USA Today, New York Post, NY Daily News, Newsday, The Journal News (Westchester)
and The Washington Post. His first published book was The
Florida Homeowner, Condo, & Co-Op Association Handbook. It
was featured in The Sun Sentinel and Miami Herald.
Born
and raised in Brooklyn, he now resides in Westchester with his wife, two kids,
and Ferris, a black lab rescue dog, and El Chapo, a pug rescue dog.
You
can connect with him at: https://www.linkedin.com/in/brianfeinblum/ or https://www.facebook.com/brian.feinblum
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