An advanced, high-tech or what have you version of America's $100 is set to roll on October, but is the 3-D, more colorful appearance necessary or advantageous in many ways than one?
The answer is a big YES! The modifications in all its high-end glory is advantageous so that people, especially clerks and bank personnel wouldn't need to subject the $100 bill under a backlight to identify whether its fake or not, Deputy Associate Director at the Federal Reserve Michael Lambert said.
Although there had been several reports in the previous year saying that the updated $100 production has been delayed, the bill, that has undeniable undergone a major makeover including: 3-D security ribbon, a color-changing ink well, and a more textured Benjamin Franklin collar, is finally due to land in our wallets soon.
Yahoo! News reported that he more expensive C-note is set to roll starting Oct. 8 in hopes of hampering and fighting counterfeiters through its top-secret highly advanced printing technology.
"We try and find security features that can be used at a number of different levels, from more experienced cash handlers," Lambert said, adding, "down to the person on the street who really needs to know the security features so they can protect themselves."
The new high-tech $100 bill still bears Benjamin Franklin's face on it, one of America's Founding Fathers. However, certain overt modifications can be noted such as a print of a part of the Declaration of Independence in script, which is found running from Franklin's left shoulder to the right edge of the new bill. A quill and an ink well are designed to appear behind the text while a blue ribbon is located near the center area of the bill.
One remarkable feature of the bill is the fact that the ink in the well switches colors from copper to green every time the bill is turned. When t's held up to the light, a watermark of Franklin can be observed on the right side area.
According to the Federal Reserve, it would order 2.5 billion new $100 bills this year as stated in its latest currency budget.
Lambert shared that the estimated cost of each bill is about 4 cents more than the old one, which sums up to an additional $100 in production costs this year only.
In addition, the Fed has budgeted about $9.5 million for its educating program this year, which is said to include global outreach efforts on the new note.
The $5, $10, $20, and $50 bills have been redesigned by the government over the past decade with the $1 as the only bill that remains unchanged as of late.
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