Wednesday, April 24, 2013

New $100s

From USA Today:
"Fed: Redesigned $100 bill coming in October"

The Federal Reserve announced Wednesday that it will begin circulating a redesigned $100 bill this fall, more than two years after its initial target. The Fed has set a target date of Oct. 8. The redesigned note incorporates added security features, such as a blue, 3-D security ribbon and a disappearing Liberty Bell in an inkwell. The features are designed to thwart counterfeiters. The revamped bill had been expected to go into circulation in February 2011. But in December 2010, officials announced an indefinite delay. They said they needed more time to fix production issues that left unwanted creases in many of the notes. Benjamin Franklin's portrait will remain on the $100 bill, the highest value denomination in general circulation and the most frequent target of counterfeiters. The $100 bill is the last note to undergo an extensive redesign aimed at thwarting counterfeiters who have access to ever-more sophisticated copying machines. The redesigns began in 2003 when the government added splashes 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. An extensive public education effort is planned for businesses and consumers around the world to raise awareness of the new design and provide information on how to use the new security features. More information about the redesigned $100 bill can be found at newmoney.gov.

^ I don't think the new bills look all that great and the $100 bill follows all the other ones. Even though you can continue to use all the old bills alongside the new ones if you travel outside the US you have to make sure you only have the new ones. I have had problems exchanging old bills for local currency, but now know to bring only new bills with me. I guess the extensive public education effort for the world isn't that extensive. ^

http://www.usatoday.com/story/money/business/2013/04/24/redesigned-100-bill/2109809/

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