Counterfeit-deterrence and the US$100 bill

By Joseph Rebeiro | May 3, 2010

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As technology improves security, so does it help conterfeiters undermine these security efforts. Conterfeiters are getting better at their game, and it is not lost to monetary authorities and security agencies around the world.

In the first significant design change in 67 years, US paper money was redesigned to incorporate a series of new counterfeit deterrent features. The new bills were first issued beginning with the $100 note in 1996, followed by the $50 note in 1997, the $20 note in 1998, and the $10 and $5 notes in 2000.

In 2003, the second round of redesigns began when the US government introduced the redesigned $20 note on October 9, 2003. The redesigned $50 note was issued in 2004, followed by the redesigned $10 note in 2006, and the redesigned $5 note in 2008. Enhanced security features make it easier to check the redesigned notes and more difficult for potential counterfeiters to reproduce.

The new US$100 bill
A new $100 note will begin circulating on February 10, 2011. Here is what you need to know:

• The US government is conducting a global public education program to inform those who use the US$100 note about the changes.
• It is not necessary to trade in old-design $100 notes for new ones. All US currency remains legal tender, regardless of when it was issued.
• The fight against counterfeiting depends on the public knowing how to use the security features in US currency. So get to know its features, and know it's real.

Officials from the US Department of the Treasury, the Federal Reserve Board and the Secret Service have unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of US currency.

Although less than 1/100th of one percent of the value of all U.S. currency in circulation is reported counterfeit, the $100 note is the most widely circulated and most often counterfeited denomination outside the US.

"The $100 is the highest value denomination that we issue, and it circulates broadly around the world," said Michael Lambert, Assistant Director for Cash at the Federal Reserve Board. "Therefore, we took the necessary time to develop advanced security features that are easy for the public to use in everyday transactions, but difficult for counterfeiters to replicate."

The redesigned $100 note includes two new advanced counterfeit-deterrent security features, in addition to effective security features from the previous design. The features are easy for consumers and merchants to check when verifying authenticity.

It will do well for businesses dealing with US customers, and as well as consumers and travellers to the US, to pay heed to the verifiable security features in the latest US denominated currencies.

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