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News > Economy
New $20 hits the streets
September 24, 1998: 7:50 a.m. ET

New bill, aimed at deterring counterfeiters, goes into circulation
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NEW YORK (CNNfn) - Although there's little doubt President Clinton would welcome a new image, it's Andrew Jackson that's getting a makeover.
     The seventh U.S. president's look has changed on the new $20 bill put into circulation Thursday by the U.S. Treasury Department.
     The redesigned Series 1996 $20 note, aimed at curbing counterfeiting, is the third U.S. currency note to get a makeover with new and modified security features, including an enlarged off-center portrait, a watermark and fine-line printing patterns.
     The changes are targeted at protecting the nation's currency as advanced computer technologies become more readily available, making counterfeiting easier.
    
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     The traditional $20 note, of which about $88 billion worth are in circulation, is the most counterfeited note in the United States.
     The new note, like the redesigned $50 note before it, includes a machine-readable capability intended to facilitate the development of scanning devices for the blind. A large dark numeral on a light background is also intended to aid visually-impaired Americans.
     If you don't like the new look, you have a little time to adjust.
     The new $20 is replacing its predecessor gradually. Unlike the introduction of new $100 and $50 notes in 1996 and 1997 respectively, older $20 notes still in good condition will be recirculated.
     But expect more currency changes ahead.
     Plans to redesign the country's lower denominations are underway. New $10 and $5 notes eventually will be issued, as well as a "modestly redesigned" $1 note. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.