The new $100 bill, with an array of high-tech features designed to thwart counterfeiters, will get its coming out party on Tuesday, partial government shutdown or not.
The Federal Reserve, which has not been affected by the shutdown, will have armored trucks rolling from its regional banks around the country headed to banks, savings and loans and other financial institutions with the new C-notes.
The bills took more than a decade to develop and the introduction was plagued by production problems that set back the rollout by 2 1 / 2 years. But officials say the problems have now been fixed.
Some bank customers could start seeing the new bills by Tuesday afternoon depending on how close their bank is to a regional Fed facility.
“We have 3.5 billion of these notes which we think will be more than ample to meet domestic and international demands,” said Sonja Danburg, program manager for U.S. currency education at the Fed.
The bill redesign, the first for the $100 bill since March 1996, will still have Benjamin Franklin on the front and Philadelphia’s Independence Hall on the back. It will also have a number of new features that will definitely turn heads.
There is a disappearing Liberty Bell in an ink well and a bright blue three-dimensional security ribbon with images that move in the opposite direction from the way the bill is being tilted.
“The 3-D security ribbon is magic. It is made up of hundreds of thousands of micro-lenses in each note,” said Larry Felix, the director of the Bureau of Engraving and Printing. “This is the most complex note the United States has ever produced.”
Officials stressed that the $900 billion worth of $100 bills currently in circulation will remain good and will only be gradually phased out as worn-out bills are returned to Fed facilities. The $100 bill is the largest U.S. denomination in circulation and has the longest life at 15 years. The $1 bill lasts 5.9 years.
The Fed has a website at http://www.newmoney.gov/ with information in 23 languages on the new bills.
The Charlotte Observer welcomes your comments on news of the day. The more voices engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views.
Have a news tip? You can send it to a local news editor; email email@example.com to send us your tip - or - consider joining the Public Insight Network and become a source for The Charlotte Observer.Read moreRead less