U.S. currency is about to receive an important face- lift, according to an article published by CNN Money on October 8, 2013.
The new $100 bill still depicts Benjamin Franklin, but is more colorful and includes more features to make it difficult to counterfeit. Enhancements include a blue colored, 3-D security ribbon and color- shifting ink that changes from brown to green with the $100 bill is tilted at a different angle. This special ink is used on sections of the front and back of the bill and, along with other changes, will be very difficult for counterfeiters to replicate.
Many might be surprised to learn that the $100 bill is the second most popular piece of currency in circulation, outnumbered by only the $1 bill. Official data from the Federal Reserve shows that, as of December 31, 2012, there were 10.3 billion $1 bills in circulation; 8.6 billion $100 bills; and 7.4 billion $20 bills. $5 dollar bills, $10 bills, $50 bills, and $2 bills follow behind in popularity, in that order.
The Federal Reserve originally planned to introduce this new $100 bill a few years back, but printing problems forced it to postpone the change. The present government shutdown has nothing to do with the delay- it was strictly a mechanical issue but it is now resolved.
With the exception of $2 and $1 bills, all other U.S. currency has been modified in the past few years to discourage counterfeiting. The changes to the $100 are the latest effort by the Federal Reserve to control the illegal practice of counterfeiting and will likely not be the last. As technology improves, counterfeiters will continue to find new ways to duplicate U.S. currency. The fed has to remain vigilant and continuously update and redesign U.S. currency to control this growing problem.
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