Government delays release of new $100 bills because of printing problems

By Martin Crutsinger, AP
Friday, October 1, 2010

Printing snafu delays new $100 bills

WASHINGTON — The government says the planned February release of the new high-tech $100 bill has been postponed because of printing troubles.

The Bureau of Engraving and Printing, which produces the government’s paper money, says the new bills have come out of some of initial printing runs with unwanted creases. The bills have been redesigned with sophisticated elements aimed at thwarting counterfeiters.

The Federal Reserve said Friday that the release of the bills, originally set for Feb. 10, will be delayed until the problem is resolved. The Fed, which puts the currency into circulation, said it will announce a new date as soon as possible.

The central bank said in a statement that the sporadic creasing that has occurred in initial press runs for the new currency had not been evident during pre-production testing of the new bills.

Officials unveiled the redesigned $100 bill last April. Benjamin Franklin is still on the C-note, but he has been joined by some snazzy new features.

Those include a disappearing Liberty Bell in an inkwell and a bright blue security ribbon that is composed of thousands of tiny lenses. Those lenses magnify the objects underneath them to make them appear that they are moving in the opposite direction from the way the bill is being moved.

The $100 bill is the highest value denomination in general circulation and the most frequent target of counterfeiters.

It is the last bill to undergo an extensive redesign. That process began in 2003 when the government added splashes of color to the $20 bill and followed that makeover with redesigns for the $50, $10 and $5 bills. The $1 bill isn’t getting a makeover.

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