CNN/Money  
CNNMoney.com
graphic
News
graphic
Finally, the (new) color of money
After delay, the Treasury will unveil the new $20 next month in a bid to thwart counterfeiters.
April 29, 2003: 2:55 PM EDT

NEW YORK (CNN/Money) - The government plans to unveil the designs of its new $20 bills next month, marking the first time in modern history that a U.S. bill will feature a color other than green.

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

The official unveiling will take place May 13, with the new bill entering circulation in the fall. The Treasury Department's original plan to unveil the bill March 27 was delayed due to the war in Iraq.

The redesigned notes will remain the same size and use similar portraits and historical images, but will include the introduction of subtle background colors. The department has not announced what colors will be used.

The Treasury Department said color itself is not being used as a security feature, but it will enable the addition of features that could prevent counterfeiting.

After the new $20, still featuring Andrew Jackson, goes into circulation this fall, a redesigned $50, featuring Ulysses S. Grant, and a new $100, which carries the image of Benjamin Franklin, are expected to follow in 2004 and 2005.

A new design for $5 and $10 bills still is being considered. The $1 and $2 bills, however, will not be revamped.

The last general redesign of American currency began 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 special ink that appears 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 runs vertically through the bill. While these features also will be included on the new redesigned bills, they may not fix the problem of counterfeiting.

For more on you and your money, click here

The Secret Service says the percentage of counterfeit bills produced digitally has grown from 1 percent of bogus 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 in an earlier interview with CNN/Money that 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.

 
Don't change the dollar!

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.  Top of page




  More on NEWS
Afghanistan: Pay for it or charge it?
Fending off empty holiday shelves
Bankruptcies spike 33%
  TODAY'S TOP STORIES
Struggling shops face empty shelves
Dow hits new '09 high ahead of holiday
11 reasons to get up early Friday




graphic graphic
© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.