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In the early days, the graduation diplomas were actually made of sheepskin. Thus, this is where the slang "hang your sheepskin on the wall" originated. It was a phrase to represent showing your education accomplishments. Graduation diplomas were made from very thin sheepskin, hand written, rolled and tied with a ribbon until approximately 100 years ago.

Animal skins were used because the process of making paper had not been perfected. When paper making techniques were developed, the practice of using parchment began. It wasn't until the turn of the 20th century that diplomas stopped being rolled-up and began being given out in leather binders. There are many reasons why this process changed, but the most widely held belief was because rolled-up diplomas were hard to frame.