The (new) color of money

[thedrifter]

The (new) color of money

Unveiling the new $20 -- an effort to thwart counterfeiters -- is set for March 27.
March 5, 2003: 3:57 PM EST
By Jonah Freedman, CNN/Money contributing writer



NEW YORK (CNN/Money) - The federal government will unveil a new $20 bill that will introduce a predominant but subtle color into the background, marking the first time in modern history that a U.S. bill will feature a color other than green.

According to the Treasury Department, other changes will include new images of Andrew Jackson and the White House, as well as other adjustments that are being kept secret. The official unveiling will take place on March 27, with the new bill entering circulation in the fall.

The last redesign of American currency was in 1996, when a new $100 bill was introduced with new features to thwart counterfeiters. A new $50 came in 1997, followed by the $20 in 1998 and new $5 and $10 notes in 2000.

New features on those notes included new ink that appeared black from one angle and green from another; a watermark, visible only when holding the bill up to the light; and a security strip that ran vertically through the bill. While these features also will be included on the new redesigned bills, they may not fix the problem of counterfeiting.

The Secret Service says the percentage of counterfeit bills produced digitally produced has grown from 1 percent of counterfeit bills in 1995 -- before the last redesign -- to a whopping 40 percent in 2002.

Dennis Forgue, a rare currency dealer and anti-counterfeiting expert, said many international counterfeiters bleach the surface of small American bills and digitally print the face of a larger bill over them, even though the watermark and security strip remain the same.

"Unless there's some sort of penetrating ink, the new bills won't fix that problem," he said.

Since last summer, the Bureau of Engraving and Printing has been working with members of the vending machine, gaming and public-transit industries, whose operations could be affected by the new notes.


Brad Quay, vice president of Hamilton Manufacturing, said the department has been providing samples and working with his company, a maker of change machines and other currency handling products, based in Holland, Ohio.

The color in the new bills won't be a problem for the bill-acceptor machines his company makes, he said, but certain aspects of the bills' new appearance will require adjustments.


Can we say Monopoly Money......


The Bureau of Engraving hasn't said what color it will choose for the new $20, but think of the possibilities.


Sempers,

Roger

[Boats]

Roger,

I remember all the foreign currency I had when I came back home. My sea bag was full of all this goofy money. My sister's helped themselves to some other's I gave to nieces and nephews and some I think I still have somewhere in the house.

I remember my Chinese money (the coins) some where huge and had a big hole in the center. I later found out that the hole was because most do not have or wear belts so they would string the coins and put a knot on the end and then tie it around their waste. I thought that was novel.

My grandparents has some real old money (out of date now) and I recall you opened some of them like a napkin. I don't know what happen to those old bills. I still look for silver notes and find them every so often.

Gotta run - thanks for the tips above.

[deltamedic]

Remember the MPC script we had in Nam. All bills were a diff color and only had 1 coin as best I recall and it was called a dong & size of our nickel. Strange that mama-san always knew before we did when the military was going to change the MPC colors which was usually twice a year.
Don't think there will ever be a fool proof method to prevent anyone from counterfeiting money.

deltamedic

[judyvillecco]

delta medic, here is your post. It was on the General forum. Look under your profile at all your posts and if you want to talk to these guys add them to your buddy list and look for their posts. Hope that helps. They are great guys. Welcome. Hey boats and drifter, delta medic is new and trying to learn to navi gate these waters and find you guys again. hope he gets here. Hope all is well. See ya.