Without a lot of fanfare, and two-and-a-half years past it’s originally scheduled release date of February 2011, Historic City News reporters inspected the new $100 Federal Reserve Note that was introduced into circulation yesterday.
The Bureau of Printing and Engraving has incorporated many new anti-counterfeiting measures into the production of the latest bill; some of which were to blame for repeated printing problems that resulted in creases and ink smears.
“These bills are the most common notes to be illegally reproduced in the world,” according to a spokesman from the Federal Reserve Bank. “At any given time, as many as one-half to two-thirds of the $100 notes are in circulation outside of the United States.”
As the cash registers of St Augustine and St Johns County merchants go into overtime for the busy holiday shopping season, Historic City News readers should become acquainted with the new bill so that they do not become a victim of counterfeiting. Likewise, the Federal Reserve says that they have designed the new bill so that cashiers will have an easier time spotting counterfeits.
Look for features including; a color-changing inkwell, 3-D security ribbon, and more texture on Ben Franklin’s collar.
This year’s latest budget provides funding to produce 2.5 billion new $100 bills. The old notes do not need to be turned in or exchanged; however, banks will begin distributing the new notes on the teller lines immediately.