U.S. Unveils New High-Tech $100 Bill
The folks who print America's money have designed a high-tech makeover of the $100 bill. It's part of an effort to stay ahead of counterfeiters as technology becomes more sophisticated and more dollars flow overseas, Federal Reserve Chairman Ben Bernanke says.
The makeover, unveiled Wednesday, may leave people wondering if there is magic involved.
Benjamin Franklin is still on the $100 bill, also known as C-note, but he has been joined by a disappearing Liberty Bell in an inkwell and a bright blue security ribbon composed of thousands of tiny lenses that magnify objects in mysterious ways. Move the bill and the objects move in a different direction.
The government hopes the new bills will make it harder for high-tech counterfeiters to replicate.
The new currency will not go into circulation until Feb. 10 of next year, giving the government time to educate the public in the United States and around the world about all the changes.
"We estimate that as many as two-thirds of all $100 notes circulate outside the United States," said Bernanke, who stressed that the 6.5 billion in $100 bills now in circulation will remain legal tender.
The $100 bill, the highest value denomination in general circulation, is the last bill to undergo an extensive redesign. The Bureau of Engraving and Printing began the process in 2003, adding splashes of color to spruce up first the $20 and then the $50, $10 and $5 bills. The $1 bill isn't getting a makeover.
The changes are aimed at thwarting counterfeiters who are armed with ever-more sophisticated computers, scanners and color copiers.
The $100 bill is the most frequent target of counterfeiters operating outside of the United States while the $20 bill is the favorite target of counterfeiters inside the country.
The redesigned $100 bill had originally been expected to go into circulation in late 2008 but it's introduction was delayed to give the government time to refine all the new security features.
The government has prepared education resources in 25 languages to inform the public about the design changes and is giving people a chance to view the new bills on its website.
"We wanted the changes to be very obvious, visible and easy to see," Larry Felix, director of the Bureau of Engraving and Printing, said in an interview with The Associated Press.
The new blue security ribbon will give a 3-D effect to the micro-images that the thousands of lenses will be magnifying. Tilt the note back and forth and you will see tiny bells on the ribbon change to 100s as they move.
But that's not all. Tilt the note back and forth and the images will move side to side. Tilt the note side to side and the images will move up and down.
In addition, to the left of Franklin's portrait, will be an inkwell that will change color from copper to green when the note is tilted. The movement will also make a Liberty Bell appear and disappear inside the inkwell.
"As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," Geithner said.
Franklin will remain on the front of the $100 bill and Independence Hall in Philadelphia will remain on the back of the currency although both have been modified in ways aimed at making it harder to produce counterfeit copies of the bills.
"The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting," said U.S. Treasurer Rosie Rios, whose signature along with Geithner's will appear on the new currency.
AP The makeover, unveiled Wednesday, may leave people wondering if there is magic involved.
Benjamin Franklin is still on the $100 bill, also known as C-note, but he has been joined by a disappearing Liberty Bell in an inkwell and a bright blue security ribbon composed of thousands of tiny lenses that magnify objects in mysterious ways. Move the bill and the objects move in a different direction.
The government hopes the new bills will make it harder for high-tech counterfeiters to replicate.
The new currency will not go into circulation until Feb. 10 of next year, giving the government time to educate the public in the United States and around the world about all the changes.
"We estimate that as many as two-thirds of all $100 notes circulate outside the United States," said Bernanke, who stressed that the 6.5 billion in $100 bills now in circulation will remain legal tender.
The $100 bill, the highest value denomination in general circulation, is the last bill to undergo an extensive redesign. The Bureau of Engraving and Printing began the process in 2003, adding splashes of color to spruce up first the $20 and then the $50, $10 and $5 bills. The $1 bill isn't getting a makeover.
The changes are aimed at thwarting counterfeiters who are armed with ever-more sophisticated computers, scanners and color copiers.
The $100 bill is the most frequent target of counterfeiters operating outside of the United States while the $20 bill is the favorite target of counterfeiters inside the country.
The redesigned $100 bill had originally been expected to go into circulation in late 2008 but it's introduction was delayed to give the government time to refine all the new security features.
The government has prepared education resources in 25 languages to inform the public about the design changes and is giving people a chance to view the new bills on its website.
"We wanted the changes to be very obvious, visible and easy to see," Larry Felix, director of the Bureau of Engraving and Printing, said in an interview with The Associated Press.
The new blue security ribbon will give a 3-D effect to the micro-images that the thousands of lenses will be magnifying. Tilt the note back and forth and you will see tiny bells on the ribbon change to 100s as they move.
But that's not all. Tilt the note back and forth and the images will move side to side. Tilt the note side to side and the images will move up and down.
In addition, to the left of Franklin's portrait, will be an inkwell that will change color from copper to green when the note is tilted. The movement will also make a Liberty Bell appear and disappear inside the inkwell.
"As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," Geithner said.
Franklin will remain on the front of the $100 bill and Independence Hall in Philadelphia will remain on the back of the currency although both have been modified in ways aimed at making it harder to produce counterfeit copies of the bills.
"The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting," said U.S. Treasurer Rosie Rios, whose signature along with Geithner's will appear on the new currency.
(AP)
Popular on MoneyWatch
- When it comes to vacations, the U.S. stinks
- Reverse cell phone lookup service is free and simple
- Snapple co-founder Leonard Marsh dies at 80
- Amy's Baking Company could face legal 'nightmare'
- TGI Fridays nailed for doctoring booze
- Kate and Will: Nurseries fit for royalty
- Ellen DeGeneres buys Brad Pitt's Malibu home
- Amy's Baking Company: Post-meltdown PR campaign
Its Freakn nutz, and only a $1 lolz.
We already have those in Stock.
"In addition, to the left of Franklin's portrait, will be an inkwell that will change color from copper to green when the note is tilted. The movement will also make a Liberty Bell appear and disappear inside the inkwell."
If I am not mistaken, isn't the inkwell to the right of Franklin in all the pictures? Maybe they meant "on Franklin's left" instead.
Someone needs to develop a simple machine that cashiers can insert bills into and the machine can be programmed to precisely authenticate US currency. Or integrate such a machine into the registers. I don't see why something like that can't happen. Better than the brown pen method. Who knows WHAT cashiers will then need to go through to authenticate these bills!! All IMO, of course.
The pens are only intended to catch fake bills that were created through the basic photocopy process, they basically turn brown when they encounter wood based paper, and stay yellow with linen type papers, so those are not fool proof.
There are a lot of machines that can correctly detect fake currency (try using a fake bill in Las Vegas, I doubt if you would be able to use one in any of the big Casinos) The problem with most machines is that they break down, and most mom&pop operations wouldn't send them out for repair.
But to answer your question about why designing new bills (other than its cool) is that it still takes a long time, and a lot of skills to come with a bill that is good enough to pass as authentic, and usually by that time its kind is already going out of circulation, so there is not a whole lot of time for crooks to make a lot of money. :-)