Are you ready to get your hands on the new $100 bill? If so, you’re not alone. The $100 bill is the second most common bill only behind the $1 bill. So, it should come as no surprise that the public is anxiously waiting for the release of the newly upgraded $100 bill.
The new $100 bills were originally intended for a 2011 release; however, complications with the printing led to a delayed release date. The bills will be released on October 8, 2013. Initial complications stemmed from the bills creasing, which led to blank spaces.
Additional time was required due to the intricate process needed to create each bill where the blue security 3-D ribbon had to be sewed into the fabric of the bill instead of just stamped on the exterior. The extra efforts for this special design will help fight the potential for counterfeit.
Dennis Forgue, who is a currency expert based out of Chicago, sounded optimistic about the capability of the bills limiting counterfeit.
“That’s something that’s not going to be able to be reproduced on a photocopy machine, that’s for sure, or even on the computer,” Dennis Forgue said.
The Associate Director of the Federal Reserve, Michael J. Lambert, mirrored the sentiments of Dennis Forgue when speaking about the decreased likelihood of counterfeit. “It only takes a few seconds for people, if they know what they’re looking for to know what they’re looking at is genuine,” Michael J. Lambert said.
The following video depicts the detailed changes to the recent $100 bill upgrade.
http://www.youtube.com/watch?v=G9spCFYYXUQ
Multiple changes will be noticed on the bill including: the 3-D security ribbon with rotating “bell” and “100’s”, color-changing ink from copper to green when the bill is moved, Benjamin Franklin will no longer be encased in a dark oval, the picture of an an ink well will now be on the front, and a different view of Independence Hall will be placed on the back of the bill.
Have the extra efforts to fight counterfeit been necessary? Many think so.
“I would say it’s absolutely worthwhile to do whatever it takes to make sure that we have the best currency that we can,” Benjamin Mazzotta, a cost currency expert said.
[Image Via Federal Reserve]