WASHINGTON — A new-look “Ben Franklin” will be making its long-awaited debut in less than two months.
Originally scheduled for February 2011, the redesigned $100 bill’s launch was delayed by what the Federal Reserve said were “unexpected production problems” at the Bureau of Printing and Engraving, the government agency that prints paper money.
It will be the first time since 1996 that the $100 greenback got a new look. The main reason for the facelift was to introduce a number of new security features that will better protect the note from illegal reproduction, Treasury Department officials said. As the largest denomination of American paper money, the $100 bill is also the most widely targeted by counterfeiters.
Among the new security devices appearing on the redesigned note are:
- A blue-colored 3-D security ribbon that is woven into the front side of the note.
- An image of a color-shifting bell inside an inkwell on the front side of the note.
- Raised printing that feels rough to the touch at the area around Benjamin Franklin’s right shoulder.
- Microprinted words on Franklin’s collar around the blank space where the portrait watermark appears and in the note’s borders.
Source: U.S. Treasury Department
The redesigned $100 bill’s key security features.
According to the Treasury Department, the cost of producing each redesigned note is 11.8 cents, 3 cents higher than the current $100 bill.
The Fed said it will not be necessary to trade in older-design notes for the redesigned version – all U.S. currency remains legal tender irrespective of when it was printed. However, starting Oct. 8, the central bank will be issuing only new-look $100 bills to financial institutions.
To learn more about the redesigned $100 bill, visit: http://www.newmoney.gov
And here are some interesting facts about the $100 greenback:
- The government issued the first $100 bill in 1862.
Source: Heritage Auctions Inc.
The front of a $100 bill from 1862.
- Benjamin Franklin’s portrait first appeared on the note in 1914.
- There are approximately 6.5 billion $100 bills currently in circulation. The note contributes approximately one-fifth of the value of the U.S. monetary base.
- According to Fed economist Ruth Judson, roughly two-thirds of the notes are held offshore.
- The average life of a $100 bill is approximately 7.5 years.
- The material on which the note is printed is 75 percent cotton and 25 percent linen.
- The $100 bill measures 6.14 inches (width) x 2.61 inches (height).
Among the 10 countries with the most widely traded currencies, the U.S. is one of eight that issues paper money denominated in units of 100. Japan and the U.K. are the two exceptions. Roll over the flags in the interactive graphic below to take a look at current designs for 100-unit notes from those seven other countries.
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