Paper money magnetic?

So I read somewhere (perhaps MAKE) that the ink used to print paper money in the US contains iron and is therefore magnetic. Zach and I decided we had to try this at lunch and had this fun with a $2 bill and a stack of strong neodymium magnets:

It wasn’t strong enough to lift the bill but you can definitely see the magnet’s effect. It seems like only the ink around the outer part of the bill worked and this was with one of the newer US bills.

Try it yourself! It’s a great Friday afternoon distraction.

magnet, money, currency, magnetic, fun