Production trouble delays new $100 bill
Creasing problems in the government’s new $100 bill, which has been redesigned with enhanced security features to thwart counterfeiters, have forced Uncle Sam to put 1.1 billion of the bills in quarantine.
From the Associated Press:
The government said Monday it will need to check more than 1 billion new $100 bills because of production problems that have left unwanted creases in many of the notes.
Officials of the Bureau of Engraving and Printing said that they are examining 1.1 billion of the new bills to determine how much of the currency will have to be destroyed.
Darlene Anderson, a spokeswoman for the bureau, said officials believe a large proportion of the new bills will pass inspection and be placed into circulation.
The currency had originally been scheduled to go into circulation on Feb. 10. Anderson said a new date will not be set until the production problems are resolved.
The Federal Reserve had announced on Oct. 1 that a creasing problem had developed during production of the bills, but the extent of the trouble wasn’t revealed at that point.
The government has been anxious to get the new notes into circulation because the $100 bill is the most frequent target of counterfeiters worldwide.
The new security features on the C-note include a 3-D security ribbon, raised printing on Ben Franklin’s shoulder and an image of the Liberty Bell in his inkwell. The government’s newmoney.gov website has more on the security enhancements.
-- Tom Petruno