U.S.

New 5's and 10's: Revamped Money

By CBSNews.com staff CBSNews.com staff

May 24, 2000 / 9:34 AM EDT / CBS

$5 and $10 bills with new designs went into circulation Wednesday, similar to the revisions in the $20, $50 and $100 currency. The new money has security features to thwart countefeiters, U.S. Treasurer Mary Ellen Withrow told CBS News Early Show Co-Anchor Jane Clayson.

Those features include watermarks, color-shifting ink, microprinting, and security threads.

A polymer thread embedded vertically in the paper to the left of the portrait indicates the denomination. The words "USA FIVE" or "USA TEN" and a flag can be seen from both sides of the notes when held up to a bright light. The numerals "5" or "10" appear in the star fields of the flag.

The security thread on the $10 bill, when held under ultraviolet light, is orange. "On the $5, it's blue," said Withrow. "It's different colors on all of the denominations.

"We're trying to stay a step ahead of technology," she added.

The currency re-designs began with the $100 bill in March 1996, followed by the $50 in October 1997 and $20 in September 1998.

The enlarged portraits of President Abraham Lincoln and first Treasury Secretary Alexander Hamilton are easier to recognize, while the added detail is harder to duplicate. The portraits are now off-center, providing room for a watermark and reducing wear and tear on the portrait.

Because they're so small, microprinted words are hard to duplicate. On the front of the note, the denomination — "FIVE DOLLARS" or "TEN DOLLARS" — is continually repeated on both side borders and "The United States of America" appears on the lower right and left edge ornamentation of the portrait's oval frame.

Not every new feature is intended for security. The large numeral on the back of the new notes is easier for the visually-impaired to read. There's also a new machine-readable feature for the blind, which could lead to scanning devices that could identify the denomination.

Older bills will still be honored. There will be no recall or devaluation of any U.S. currency. "Old or new, all U.S. currency always will be honored at full face value," says the Bureau of Engraving and Printing's Web site. Older notes are removed from circulation as they wear out and are replaced with the newer bills.

The Treasury Department is working hard to gain public acceptance of the new currency. 7-11 and Ace Hardware stores will have displays, and Supervalue will feature the new notes on 4 million paper grocery store bags in order to prepare their customers for the new bills. Other corporate partners include Target, Bank of America, McDonalds, Pizza Hut, Burger King, Kroger, Sears and Industrial Bank of Washington, plus numerous transit authorities.

Girl Scouts is including information in the new Brownie handbook, and will publish an order form in their national newsletter for council and troop leaders to order free materials on the currency to distribute to their membrs.

During fiscal year 1999, $180,872,588 in counterfeit U.S. currency appeared worldwide, much of it overseas, particularly in countries where U.S. currency is preferred to the local bills. More than three-quarters of that was seized before it entered circulation, with no loss to the public.

The most-counterfeited U.S. note is the $20 bill, followed by the $100. However, counterfeit $100s are more common overseas.