Where did the term “Black Friday” originate?

Interestingly enough, the term “Black Friday” has a completely different origin than you may think. Before Black Friday became a retail thing, it involved stocks and gold. Yes, the mineral gold.

For a basic summary of the term’s origin, we are taking it all the way back to 1869. Two Wall Street investors and financial geniuses had a plan of investment to increase their profits tremendously. They wanted to buy as much gold as they could get their hands on in order to “corner” the gold market. Their plan was to buy vast amounts of gold, to increase the value of what remained on the market, and eventually sell it back for a much higher price. Doing so resulted in a major profit gain for the two investors.

The plan began to succeed; the price of a single piece of gold increased from $100, to $141, all the way up to $160. With the rapid increase in value, their goal was to increase the price to $200, resulting in unbelievable profit gain.

Little did they know, though, that president Ulysses S. Grant had caught on to their plan. At this point, the U.S. Treasury put $4 million of gold on the market. The price of gold plummeted from $160 to $133. Although the President was able to successfully end the plan of these two men to corner the gold market, the rest of the economy was affected by this drop as well. Both the stock market and the farmer’s market plunged to disastrous lows. This day coined the term “Black Friday” and the effect on the United States economy lasted for years following.

This financial scandal was the origin of the term Black Friday. However, in a retail sense, there are other suggestions regarding where this term came from. In Philadelphia, Pennsylvania, during the 1960s, cops coined the term Black Friday to describe the congested streets with both motorists and pedestrians. Another retail meaning of the term evolves from the start of the Christmas season, also in the 1960s. Back when retail stores kept records by hand, the black ink meant profit, while red meant a loss. Following the Macy’s Thanksgiving Day Parade, vast amounts of people started their holiday shopping. More shoppers on “Black Friday” meant more profit for retailers.

Today, Black Friday thrives in America. According to blackfriday.com, 174 million Americans shopped on Black Friday weekend, and there were 13 million online transactions.

By: KayLynn P.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

From Ford’s Innovation to Today’s Marvel: Unveiling the Secrets of Modern Car Production

Beyond the assembly line: Discover the surprising speed, customization, and quality checks involved in modern car manufacturing.

Beyond Pizza and Promises: Recognizing When It’s Time to Hire Professional Movers

Time to call the pros? Learn when pizza and beer just won’t cut it for your next move.

Mapping Our Roots: Uncovering the Stories Behind American City Names

City names revealed! Discover the historical, religious, and geographical influences behind the monikers of American cities.

The Agile Approach: Why Short, Focused Plans Are Overtaking the Mammoth Business Blueprint

Ditch the doorstop plan! Discover why concise, adaptable strategies are the new gold standard for business success.

Embracing Tomorrow: The Practical Power of Planning for Life’s Only Certainty

Face the future with confidence: Understand how planning for life’s only certainty with life insurance can provide lasting security.

Steering Your Savings: Taking Control of Your Car Insurance Rates

You’re in the driver’s seat! Learn how your credit, driving habits, vehicle choice, and smart shopping can lower your car insurance costs.

Underfoot Upgrade: Transforming Your Garage Floor from Forgotten to Fantastic

Don’t ignore your garage floor! Discover easy and impactful ways to upgrade this often-neglected area of your home.

Unwrapping the Wiener: A Deep Dive into the History and Lore of the Hot Dog

Beyond the bun: Discover the surprising history, varieties, and enduring appeal of America’s favorite tubular treat.

The Untapped Power of Collaboration: Why Asking for Help Fuels Business Success

Stop going it alone! Discover how leveraging the expertise of others can relieve pressure and drive your business forward.

Navigating the Grandparenting Journey: Understanding Today’s Families

Grandparenting today: Learn key shifts in family dynamics to build stronger connections with your children and grandchildren.