A 00 in macerated currency Man's Macerated Currency Hat.with BLUE RIBBON ====

Description

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Man's Macerated Currency Hat.
Measurements are approximately three and a half inches long
and one and a half inches high.
A blue ribbon encircles the crown.
A handwritten label is on the inside and is almost complete.
00 in macerated currency was used to produce this hat.
ABOUT MACERATED CURRENCY
Paper currency did not come into general use until the Civil War.
An act of Congress in 1862 authorized the Treasury Department
to come up with a method for destroying old paper notes
that were no longer fit for circulate.
Between 1874 and 1942, the Federal Reserve disposed
of worn-out currency by soaking it into a pulp.
Enterprising people, who may have been early recyclers,
discovered that the pulp could be used like
papier-mache to form shapes.
Souvenir companies bought macerated paper by the ton
and the graded greenbacks were reborn.
The process was discontinued
when the Federal Reserve started burning old bills.
Sometimes, the item was labeled
with how much money was used to make the piece such as,
"Made of U.S. National Greenbacks
redeemed and macerated at the U.S. Treasury, estimated ,000."
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