The Federal Reserve announced it will begin circulating a redesigned $100 bill October 8, 2013.
The redesigned $100 bill will incorporate added security features, such as a blue, 3-D security ribbon and a disappearing Liberty Bell in an inkwell. The new features are designed to help put an end to counterfeiters.
The new design was originally unveiled in 2010 but was faced with production delays after the ribbon was creasing the sheets of paper while it went through the printing press.
The Treasury Department‘s Bureau of Engraving and Printing stopped production in December 2010 saying they needed more time to fix production issues that left creases in the notes.
The Federal Reserve originally planned to issue the bills on Feb. 10, 2011. The problem was fixed and production started again in 2011.
“We made numerous process changes to address the creasing issue and we are back in full production,” said Dawn Haley, a spokeswoman for the Bureau of Engraving and Printing.
Haley told Businessweek that those changes included modifying the paper feeder on the printing presses to accommodate variations in the paper associated with the 3-D security ribbon. The blue security ribbon is composed of thousands of lenses. Those lenses magnify the objects underneath them to make them appear to be moving in the opposite direction from the way the bill is being moved.
According to Fox News, The $100 note is the most frequently counterfeited denomination of U.S. currency outside the United States, due to its broad circulation overseas.
The old notes will be destroyed and replaced as they pass through the Fed system.
The Fed said officials will be reaching out to businesses and consumers around the world to educate them on how to identify the new bill.
The $100 is the last bill to get a redesign. The redesigns began in 2003 when the government added spots of color to the $20 bill. That makeover was followed by redesigns for the $50, $10 and $5 bills. The $1 bill isn’t getting a makeover.
Benjamin Franklin will still remain on the $100 bill.
New $100 Bills Roll of Presses
The folks who print America’s money have designed a high-tech makeover of the US$100 bill. Federal Reserve Chairman Ben Bernanke says it’s part of an effort to stay ahead of counterfeiters as technology becomes more sophisticated.
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