In 1929, all bills were decreased in size to their current dimensions - 6.14 inches by 2.61 inches by .0043 inches. The Federal Reserve estimates the average life of a dollar bill to be 5.9 years before it wears out and is replaced.
The first version of the $1 was printed in 1862. It was larger than today's bill and featured Salmon P. Chase, President Lincoln's Secretary of the Treasury. In 1869, the portrait was changed to that of President Washington who is featured on the bill today.
While you may not feel strongly about the $1 bill, there are organizations that do. Save the Greenbacks is dedicated to preserving the bill while Coin Coalition advocates eliminating the bill and replacing it with a $1 coin.
After the seventh Government Accountability Office report said that switching to a dollar coin would save the US $4.4 billion over 30 years, a House subcommittee met to discuss the change. However, according to polls, the majority of Americans are not in favor or giving up the bill.
Read more at http://www.omg-facts.com/page/9#SYEe038jAd5BAqbX.99
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