Nickelmeister wrote:Here is a "colorful" theory:
http://www.roadtoroota.com/public/261.cfm
According to the author, the new notes will be postponed indefinitely until the US is ready to return to a gold-backed currency.
Nickelmeister wrote:Here is a "colorful" theory:
http://www.roadtoroota.com/public/261.cfm
According to the author, the new notes will be postponed indefinitely until the US is ready to return to a gold-backed currency.
scyther wrote:Will the Federal Reserve be destroying the old $100 bills as it receives them?
Mr. Henry,
Thank you for your inquiry. Beginning on October 8, 2013, Federal Reserve Banks will only be paying new design $100 notes out to financial institutions. As older designs make their way through the banking system, they will eventually get returned to the Federal Reserve, where they will be destroyed. For more information on U.S. currency, please visit http://www.newmoney.gov
Best,
Aubrey Maslen
U.S. Currency Education
Federal Reserve Board
20th & C Street, NW
Washington, D.C. 20551
John_doe wrote:this is a polymer note correct?
John_doe wrote:hmm I wonder what made them decide against polymer? They last a lot longer, and are harder to counterfeit.
Crane & Company has manufactured currency and security papers for more than two centuries. We have continually supplied the United States Treasury with its currency paper since 1879. United States Currency utilizes the most durable banknote paper in the world, achieving the longest life span of any paper currency.
Over the decades, the consistent drive of our technology has been in the durability, printability, aesthetics and anticounterfeiting features of banknote papers. Since first embedding silk threads in banknote paper in 1844, Crane has been a leader in developing paper-based counterfeit deterrents, such as advanced security threads, watermarks, planchettes, security fibers, special additives, and fluorescent and phosphorescent elements.
natsb88 wrote:Changing from paper to polymer is more than just changing the manufacturing process. All the money handling equipment and processes have to be adapted/adjusted/replaced too. Vending machines, cash counting machines, some counterfeit detection that tests the paper, etc. The countries that have already made the switch have all been much smaller, like 10% - 15% of the population of the US. And their currencies don't circulate globally like the US dollar does, the US has a HUGE currency supply.
That's also one of the reasons they haven't started stamping out steel pennies or nickels. All of our coin handling equipment in the US is based on non-magnetic coins. Magnetism is used to reject coins in a lot of US vending and coin equipment. Canada already had magnetic coins (999 nickel) so switching to steel was not as big of a deal.
scyther wrote:So they will be destroying the old ones. Glad I kept a good example I got a while ago.
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