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He didn't. There is no evidence that he coined that phrase though it is very often atteributed to him. The earliest appearance of the phrase in print is in the 1885 biography of con man "Hungry Joe". Earlier spoken attributions are to a number of con men as well as one of Barnum's rivals who tried to discredit him.

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Q: How old was pt barnum when he made the phrase there's a sucker born every minute?
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