New U.S. $100 Bill Unveiled to thwart counterfeiters

  • 4

New U.S. $100 Bill Unveiled to thwart counterfeiters

Category : Blog

Source: Brandon Hill | Daily Tech

It seems like the less they are worth, the better they look!  – BJK

——————————-

New U.S. $100 Bill Unveiled

by Brandon Hill | Daily Tech Blog

New bill on the top, old bill on the bottom.

Ahhh, the smell of money. Although many people like to carry around plastic in their wallets instead of paper bills, there is still a need to thwart counterfeiters who always try to outsmart the latest security improvements included in U.S. currency.

Today, high ranking members from the Board of Governors of the Federal Reserve System, the U.S. Department of the Treasury, and the United States Secret Service pulled the wraps off the newest design for the $100 bill, the highest currently available denomination available for U.S. currency.

According to U.S. Department of the Treasury – the most circulated and counterfeited of all U.S. bills — the total worldwide circulation of the $100 bill is $890 billion according to the Wall Street Journal. In addition, roughly two-thirds of all $100 bills in circulation can be found overseas.

The new $100 bill features new security enhancements to cut down on counterfeiting including a 3D Security Ribbon that has images of 100s and bells which change position as you move the bill and a “Bell in the Inkwell” image that changes colors from green to copper depending on how the bill is oriented.

“The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting. To ensure a seamless introduction of the new $100 note into the financial system, we will conduct a global public education program to ensure that users of U.S. currency are aware of the new security features,” said Treasurer of the United States Rosie Rios.

“The $100 is the highest value denomination that we issue, and it circulates broadly around the world,” said Michael Lambert, the Assistant Director for Cash at the Federal Reserve Board. “Therefore, we took the necessary time to develop advanced security features that are easy for the public to use in everyday transactions, but difficult for counterfeiters to replicate.”

The new $100 bill will be ushered into service on February 10, 2011.



4 Comments

4James

June 12, 2010 at 10:26 pm

We provide no credit check payday loans online. I was wondering how merchant cash advance from 1st National Credit Card Processing differs in principal from our type of loan.

1stNAT

June 22, 2010 at 2:01 pm

Hi, and thanks – our merchant cash advance is NOT a loan per’se. Its essentially a partial hypothecation of future revenue stream based on prior history of credit card processed sales – a portion of which is assigned for repayment of the advance funds obtained. Depending on credit card sales history of the business, a higher amount of small business funding is generally available than with a pay-day loan. A better comparison can be made with small business loans, and those are inferior to merchant cash advance.

Now where do I go to comment on YOUR blog and leave our link? 🙂 bjk

QuickBooks Bookkeeper Babe

May 9, 2011 at 2:43 pm

The Treasury is having problems rolling these out. They just destroyed the first $10 billion dollars printed because of a printing mistake.

Porsche Repair Mechanic Guy

June 3, 2011 at 9:49 am

Yep, the less they are worth the better they look! LOL!

Leave a Reply


*

Our Testimonials

1st National's Wireless credit card machine, has helped us increase our business, offer convenience to our customers, and make us feel on the cutting edge of the payment technology ! Can you believe 2 brothers, with separate Electrical and Painting businesses sharing the same wireless machine?

Nick Mendoza & Joel Mendoza
R & N Electric & Painting
Our full service dental office at the heart of Los Angeles has been enjoying the fabulous customer service that 1st National Processing provides. Our merchant account savings, since switching to them last year, have been tremendous and we continue to refer them to other dental & medical professionals that we work with.

Dr. Neil McLeod
West Hollywood Cosmetic Dentist