October 8, 2013 in Business

New $100 bills begin circulating today

Martin Crutsinger Associated Press
 
Associated Press photo

This Sept. 24 photo shows a sheet of uncut $100 bills at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas.
(Full-size photo)

WASHINGTON – The new $100 bill, with an array of high-tech features designed to thwart counterfeiters, will get its coming out party today, partial government shutdown or not.

The Federal Reserve, which has not been affected by the shutdown, will have armored trucks rolling from its regional banks around the country headed to banks, savings and loans and other financial institutions with the new C-notes.

The bills took more than a decade to develop and the introduction was plagued by production problems that set back the rollout by 21/2 years. But officials say the problems have now been fixed.

Some bank customers could start seeing the new bills by this afternoon depending on how close their bank is to a regional Fed facility.

“We have 3.5 billion of these notes, which we think will be more than ample to meet domestic and international demands,” said Sonja Danburg, program manager for U.S. currency education at the Fed.

The bill redesign, the first for the $100 bill since March 1996, will still have Benjamin Franklin on the front and Philadelphia’s Independence Hall on the back. It will also have a number of new features that will definitely turn heads.

There is a disappearing Liberty Bell in an ink well and a bright blue three-dimensional security ribbon with images that move in the opposite direction from the way the bill is being tilted.

“The 3-D security ribbon is magic. It is made up of hundreds of thousands of micro-lenses in each note,” said Larry Felix, the director of the Bureau of Engraving and Printing. “This is the most complex note the United States has ever produced.”

The $100 bill is the last bill to get a makeover in a process that began in 2003 with the $20 bill. The government redesigned the greenbacks with subtle colors and other security features to make it harder for counterfeiters. The $100 bill, which is the most commonly counterfeited note outside of the United States, was redesigned with even more complex security features.

© Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


There is one comment on this story. Click here to view comment >>

Get stories like this in a free daily email