Final answer:
The provided information does not directly answer the value of illegitimate checks cashed daily, but it does illustrate the distribution of U.S. currency, which is primarily held by banks, businesses, and as digital currency.
Step-by-step explanation:
The question about the value of illegitimate checks cashed every day relates to financial fraud and the volume of transactions in the American economy. However, the information provided does not directly answer the question of the value of illegitimate checks but instead informs us about the amount of currency in circulation. To find the value of illegitimate checks cashed daily, one would ideally need statistics on financial crime or fraud. As for the currency in circulation, the bulk of the money is not carried on individuals; instead, it is distributed among banks, businesses, and in electronic form. Large quantities are also held in reserves by financial institutions and by the Federal Reserve. Generally, the majority of the money supply is digital and circulates through the banking system as electronic records rather than physical cash.