Posted on 10/08/2013 5:34:49 PM PDT by re_tail20
The revamped $100 bill costs 12.5 cents to produce — a 60% increase over the 7.8 cents it cost to print the older version of the bill. The government has printed 3.5 billion of the new $100 bills, which it began delivering to financial institutions Tuesday. How soon customers will see the new bills depends on their distance from a regional Fed office, demand, and a few other factors.
Among the reasons it’s more expensive than the older currency: Its new security features, which help prevent counterfeiting. For one, there’s a blue 3-D ribbon running through the center of the bill. When you tilt the bill back and forth, the bell designs that are embedded in the ribbon change to 100s. Another major feature is an image of a bell in an inkwell; when tilted, the bell seems to appear and disappear into the inkwell. “We are raising the bar for counterfeiters,” says Sonja Danburg, the program manager for U.S. currency education at the Federal Reserve Board.
(Excerpt) Read more at marketwatch.com ...
I have read the main problem is with countries like North Korea and Iran who produce bills so good that they can only be detected by serial number.
Why wouldn’t North Korea, Iran and anyone else do it? Seriously, why not?
It’s BILLIONs if not virtually unlimited income for them; and the US is too timid, politically correct and cowardly to do anything about it. The current administration is turning a blind-eye to what is basically a declaration of war against us; which is essentially the same thing as encouraging them to continue.
Whereas, if we leveled the factory, the city in which it resides and the capital of the country and said “knock it off, or we will utterly destroy you”, at least they would understand that there are consequences.
When someone declares war against you, giving them BILLIONS in aid, while ignoring their activities does not show strength - it shows a craven weakness.
There is one small problem. All federal reserve notes regardless of their age are legal tender. If a person was so inclined they could produce a bunch of 1969 $100 bills before they had micro printing, watermarks, and security threads.
I remember one year not long ago where the number one recipient of U.S. aid was North Korea. We were supposedly bribing them not to make nuclear weapons.
Absolute insanity.
Everyone talks about getting rid of the penny but we should really get rid of the $100 bill. Obviously they are expensive to produce and in an era when most financial transactions (especially larger ones) are done with plastic they seems a bit foolish.
Like it matters what a 100 looks like any more. The damn thing ain’t going to be worth a penny quite shortly.
Then they just need to find someone who will accept them.
“We are raising the bar for counterfeiters,” says Sonja Danburg, the program manager for U.S. currency education at the Federal Reserve Board.
The Federal Reserve Corporation is the BIGGEST COUNTERFEITER on the Planet, to the tune of around 5% EVERY YEAR, but that number is growing rapidly, which makes this somewhat laughable.
Get a bill reader and test out your work at home, when successful go to a casino place them in slot machine, play for a while and cash out with real money. Casinos are used to launder money by a lot of people anyways.
We should outsource the production to the Norks (Pyongyang) - they’ve got all the expertise and need work.
We should outsource the production to the Norks (Pyongyang) - they’ve got all the expertise and need work.
We need a ten thousand dollar bill. Euros come in larger denominations than dollars, like a thousand euros. This means that smugglers and money launderers use Euros instead of dollars, because it takes up less space and is more convenient. If we made a ten thousand dollar bill, then the money laundering business would come here.
I don’t know if it’s true but I’ve read that half of the $100 bills currently in “circulation” outside of the US are counterfeit.If that’s even *close* to being correct that’s a serious situation.I’ve seen it claimed that polymer notes are much harder to counterfeit than are paper ones.If *that’s* true it might be worth considering.
"Then they just need to find someone who will accept them."
True. Every once in a while I'll get an "old-style" bill. It really stands out. If someone handed me a bunch of 1969 $100s, I'd look at them VERY closely.
Do they really have $100 slots??? Wow!
I can’t imagine dropping $100 that way.
They cost 60% more but when you realize that they last twice as long that’s virtual savings!!! < /s >
Oh well, someone’s cousin got the patent and the printing contract.
No worries. With Yellen coming in as the new Fed Chair, the $100 bill will soon be the new penny.
see posts 7 and 19
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