The settlement was named for Hernando Money, a United States Senator from Mississippi.

[5] Money gained international attention in 1955 after Emmett Till, a 14-year-old African-American boy from Chicago visiting his uncle, was accused of flirting, by means of whistling, with a white woman working alone at Bryant's Grocery & Meat Market in Money.

[6] A historic marker has been placed in front of Bryant's Grocery, and the site draws "an ever-increasing number of tourists".

[11] A wooden bridge across the Tallahatchie River at Money was the focus of Bobbie Gentry's 1967 hit song "Ode to Billie Joe."

The November 10, 1967 issue of Life magazine featured a photo of Gentry crossing the bridge.