Finance #TBT: Your favorite childhood toy was patented 53 years ago

Before you go, we thought you'd like these...
Before you go close icon
15 Do's And Don'ts Of Hula Hooping

Wish your favorite hip-swinging childhood toy a happy official birthday; 53 years ago, on March 5, the Hula-Hoop was patented.

It all began with a company called Wham-O (they invented another sort of popular toy you may know called the Frisbee). Arthur "Spud" Melin and Richard Knerr founded the company in 1948. They chose the name Wham-O because they thought it was a phonetic way to express the sound that their first invention, a hunting slingshot, made when it was used.

SEE ALSO: The most common way to become a millionaire, according to someone who studied over 100 of them

After Frisbee mania, Melin and Knerr found themselves inspired when they saw Australian students in gym class twirling large wooden hoops around their waists.

Seeing an opportunity to reinvent something that was so successful in Australia, the pair began mass-producing a plastic version of the toy in California, where the two men and their company were based.

Inspired by the traditional Hawaiian dance that involves slow, isolated hip movements, the men decided to simply name the toy "Hula Hoop".

The rest is history; the toy sold around 25 million units within its first four months on the market.

If you're currently resisting the urge to go home and rip apart your garage to go find yours, know that we're planning on doing the exact same thing.

RELATED: What your old toys are worth now

What your old toys are worth now
See Gallery
Finance #TBT: Your favorite childhood toy was patented 53 years ago

Playskool Flashlight in box

Price: $166.00

Easy Bake Oven

Price: $305.98

Bop It Extreme

Price: $404.64

Original Game Boy System with Tetris brand new and factory sealed

Price: $649.95

Original Black and White Furby in box
Price: $899.99

Teenage Mutant Ninja Turtle (1993) in box

Price: $1,100.00

Vintage Barbie Doll (1962) used in original box

Price: $2,450.00

1st Edition Princess Diana Beanie Baby with tag, only 14 authenticated in world

Price: $507,000.00


More on AOL Finance:
LinkedIn CEO gives away his $14 million bonus to employees after its stock collapses
Mark Wahlberg's tiny burger chain is about to blow up
Price face-off: Generic vs. brand name products

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading