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Bureau of Engraving and Printing Issues New US$20

jea6 writes "Hot off the Western Currency Facility presses in Fort Worth! The Bureau of Engraving and Printing is issuing the new US$20 note to banks today. The newly redesigned Series 2004 $20 notes have background colors (so long, greenbacks) and improved security features. Ask your bank to send a few your way. Unlike the U.S Mint's "Golden Dollar", these notes will be issued to replace the Series 2001 note. Look for a redesigned Grant in 2004 and a new Benjamin in 2005. The US Government is spending $53,000,000 over the next 5 years to make sure everybody knows that this is a real note, so go get acquainted with one."

23 of 706 comments (clear)

  1. I don't get it. by CGP314 · · Score: 4, Insightful

    There will be no recall or devaluation of any U.S. currency. Old or new, all U.S. currency always will be honored at full face value.

    So, tell me, if I'm a counterfitter, why wouldn't I just copy the older bills and 'age' them in the washing machine?

    1. Re:I don't get it. by Detritus · · Score: 5, Funny

      If you're a "counterfitter", you would be helping build kitchens, not printing money.

      --
      Mea navis aericumbens anguillis abundat
    2. Re:I don't get it. by DietFluffy · · Score: 3, Informative

      Wrong.

      Source: United States Department of the Treasury

      Question: I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?

      Answer: The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 102. This is now found in section 392 of Title 31 of the United States Code. The law says that: "All coins and currencies of the United States, regardless of when coined or issued, shall be legal-tender for all debts, public and private, public charges, taxes, duties and dues."

      This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy.

  2. Thats a lot of money for... ummm... money. by pi+radians · · Score: 4, Funny

    Only in America will they spend $35 million dollars to promote something everyone already wants, money.

    --

    sin(6cos(r)+5A)
  3. pssst: the counterfeiters are winning by ArmorFiend · · Score: 4, Interesting

    In 2001 they released a new bill design, and said "we want to stay one step ahead of the counterfeiters". Before that the bill had been unchanged for, what, 30 years? And now three years later, they're releasing a new bill? Its being kept hush-hush, but this is a clear sign that our currency is being successfully counterfitted.

    1. Re:pssst: the counterfeiters are winning by Safety+Cap · · Score: 4, Interesting

      Why do that when the government has proven itself utterly incompetent so far?

      Both the Susan B. Anthony and Sacajawea coin were rolled out with great fanfare, but people largely ignored them. Why? Because there was no reason to change, since Uncle Stupid kept printing paper dollars. Look at Canada -- they did the same thing, except they stopped printing the paper. People grumbled at first ("fear change"), but now it is all good.

      Easy recipe for change:

      1. At the next election, add a line item to the ballot: Replace dollar bills with coins or add national sales tax of 1% to cover cost of printing paper money?
      2. When coins wins by 99 to 1, start minting coins to cover supply
      3. Stop printing dollars
      4. "The problem will naturally work itself out."
      5. ...
      6. Profit! (Actually yes, because a coin lasts 20+ years, whereas a bill lasts only 18 months on avg)

      Next, the Metric system: time to join the rest of the planet.

      --
      Yeah, right.
    2. Re:pssst: the counterfeiters are winning by Dun+Malg · · Score: 3, Interesting
      At the next election, add a line item to the ballot: Replace dollar bills with coins or add national sales tax of 1% to cover cost of printing paper money?

      First, in the US, a national sales taxes would be unconstitutional. Second, there's no mechanism for federal level popular referendums-- we have a strictly representative republic. Third, using the threat of taxation to make people feel good about a format change in currency is ridiculous. If replacing paper 1's become that much of a drain on the treasury, then the change to coins will happen. As it is, the Dept. of the Treasury has only made the case that it would make their lives a little easier. We the taxpayers pay 'em to work. Let 'em work. The extra expense is really nothing in comparison to the federal budget as a whole.

      --
      If a job's not worth doing, it's not worth doing right.
  4. Think these are good? You should see the .au notes by hype7 · · Score: 5, Informative

    The Aussie notes are amongst the best in the world, IMO.

    Different colours for different values.

    Different sizes for different values.

    They're based on Polymer. Put one through the wash, it comes out looking like new. Well, almost.

    Some extremely sophisticated anti-counterfeiting techniques.

    Our Reserve Bank has even been thoughtful enough to worry about those with vision impairment.

    And, they just look cool.

  5. Re:I Always Liked the Green Bills by quigonn · · Score: 4, Insightful

    Actually, the colors make sense. When a color marks a certain value, it's easier to distinguish them. With bills all in this greenish color you have to look closely to know which value it has. In fact, this led to a number of tricks to make people believe that they get a US-$ 20 bill, but instead they only got a US-$ 5 bill. So colors do have their advantages. And the Euro proves that colorful bills can look elegant, too.

    --
    A monkey is doing the real work for me.
  6. High time by david.given · · Score: 4, Interesting
    At last! Banknotes you don't have to read to work out the denomination of!

    I'm British. I'm used to European money, which is all different colours and different sizes, and in a lot of cases is made out of plastic. You probably don't realise just how weird American money looks to us; it's all the same size, it's all the same colour --- even the material feels odd; thin and papery and not very robust. (Rag paper, isn't it?)

    When I last visited the US, dealing with American money was a continual surprise. Normally when I visit another country it doesn't take long before I can recognise notes by colour and size, which makes it much easier to handle. With American money, I kept having to peer at it to work out what it was I was about to hand over. I got the impression that they were designed by someone who knew about ergonomics, but wanted no truck with the idea.

    Of course, this is mostly just a matter of being used to a different system (I expect that with some practice you get used to looking at the picture rather than the overall design), but I do wonder how blind and partially sighted people manage.

    While this isn't a complete solution, at least the high-denomination notes will look different from the low-denomination notes, which will make it much less easy to, e.g., tip someone a hundred dollars instead of one. (Although whether this is considered a benefit depends which side of the transaction you're standing.)

    1. Re:High time by Galvatron · · Score: 3, Insightful
      I've got to agree with the other people who say "look at the numbers." It's not our fault if your money gets you in the habit of looking at colors instead. As for it looking "odd," that's the entire goddamn point! We're used to it, so your money looks odd to us, and we don't want to switch (after all, we're the ones who have to look at it every day).

      One thing that is funny, though: dimes do not state their denomination. Nickels and pennies say "five cents" and "one cent" respectively, and quarters are, of course, a quarter of a dollar. But a dime just says "one dime." How useless is that?

      --
      "The question of whether a computer can think is no more interesting than that of whether a submarine can swim" -EWD
  7. and here's where the other $18 million is going by Schlemphfer · · Score: 5, Funny
    From the summary:

    The US Government is spending $53,000,000 over the next 5 years to make sure everybody knows that this is a real note, so go get acquainted with one."

    From the parent post:

    Only in America will they spend $35 million dollars to promote something everyone already wants, money.

    The other $18 million is being earmarked to fight dyslexia. Or was it $81 million?

    --
    I'm generally "Interesting," "Insightful," and even "Funny" here. What the hell happens to me at parties?
  8. Re:Euro - when will the usa adopt? by quigonn · · Score: 4, Interesting

    Euro - what a shitty name for currency!

    Even more creative than "Dollar", because this name was ripped off from the Austrian currency "Taler" that was first established in the 15th century. But Euro on the other side symbolizes unity, a unity of countries with a currency stronger than the dollar (it is way stronger, even OPEC thinks about switching from Dollar to Euro as standard currency).

    --
    A monkey is doing the real work for me.
  9. Re:Anybody got... by lorax · · Score: 3, Informative

    B.E.P. must have had you in mind. You can download the PDF file of the new bill here: http://www.moneyfactory.com/newmoney/files/Bill_gl ossies_white.pdf

    Does anyone else think that government sites should have .gov domains? I mean, moneyfactory.com sounds like a scam site to me.

    BTW, they still have green backs.

  10. Re:I Always Liked the Green Bills by Divide+By+Zero · · Score: 3, Interesting

    I guess I'm in the minority here, but when I'm executing financial transactions (from going to the bank to going out to lunch), I CHECK the denominations of the bills I give and those I recieve. The new-look (not the brand-new-look) currency has a high-contrast, big, blocky, really-hard-to-miss printing of the denomination in one corner, and if I'm overpaying (using a $10 for less than $5, $20 for less than $10), I hand that side to the cashier or whoever's taking my money to make sure they get it.

    I have sympathy for the blind, but no color change is going to help them. Changing the size of the bills here would meet with such outrage as hasn't been seen since the Susan B. Anthony dollar. (Good thing we issued the Sacajawea dollar - everybody's using that, right?)

    But hey. Something's better than nothing, right?

    --
    Dare to Hope. Prepare to be Disappointed.
  11. Unloved $1 Coins Keep Expensive George Around by 4of12 · · Score: 3, Interesting

    All the big portrait remakes of U.S. currency neglected the one dollar bill.

    From what I understand, paper money costs more to maintain relative to coin over a period of years. Wear and tear means reprinting and replacement over a shorter life cycle for paper currency.

    There's been 2 or 3 attempts to get US to use one dollar coins, and the vending machine manufacturers and the casinos would welcome the move, but people keep wanting to use those $1 bills over the Ike dollars, the Susan B. dollars and I'm not sure what else.

    What's weird is that coins up to $20 denomination were used in the 19th century. And that was when $20 represented something like 2/3 of a month's wages for many people.

    --
    "Provided by the management for your protection."
  12. How this happened by Eslyjah · · Score: 3, Funny

    It looks like Queer Eye visited the US Treasury.

  13. Re:Good idea by Yorrike · · Score: 4, Interesting
    Nah. The best notes I've come across, and I'm not being biased as I've used notes in lots of countries, is our very own New Zealand notes.

    Made from plastic, but designed to feel like paper, they are practically unforgable. They have transparent windows, water marks, textured areas, the whole shibang. If you ever manage to get hold of one, you'll realise just how impossible a task making a replica would be.

    Just from the link above, here's the security features of our notes (all of which I think are rather cool):

    1. Each polymer note has two transparent windows. One of the transparent windows is oval-shaped and sloping and has the denomination numerals embossed in it. The other clear window is in the shape of a curved fern leaf.
    2. There is a fern immediately above the clear fern-shaped window. When you hold the note to the light, the fern should match perfectly with another fern on the other side.
    3. You should easily be able to see a shadow image of the Queen when you hold the note to the light.
    4. Each note has an individual serial number printed horizontally and vertically.
    5. Polymer notes have raised printing, which stands up on the surface and can be felt when you run your fingers over it.
    6. Tiny micro-printed letters "RBNZ" should be visible with a magnifying glass.
    7. Under an ultraviolet light, the polymer note appears dull. Most commercial papers used in forgeries will glow under an ultraviolet light. However, polymer notes contain special inks, which make particular features glow under an ultraviolet light. For example, the front of each genuine note has a fluorescent patch showing the denomination numerals, which can only be seen under an ultraviolet light.

    --

    Looks can be deceiving. Or CAN they?

  14. As the saying goes.. by Plutor · · Score: 3, Funny

    > US Government is spending $53,000,000 over the next 5 years to make sure everybody knows that this is a real note, so go get acquainted with one.

    Well, you have to spend money to make money..

  15. The Euro is worth more than the US Dollar. by Xenex · · Score: 3, Informative

    Clicky clicky.

    Right now, 1 EUR = 1.17USD.

  16. Sorry for the confusion... by toupsie · · Score: 5, Funny
    As American, I want to apologize about currency and your confusion using it. We should know how confusing numbers are to Europeans. That is why we are releasing European friendly bank notes now.

    On your next trip to America, just remember this simple little mathmatical formula:

    1 is less than 5 is less than 10 is less than 20 is less than 50 is less than 100

    If this still proves to be difficult, just hand over your wallet to one of us and we will audit your currency for you...for a small fee.

    --
    Strange women lying in ponds distributing swords is no basis for a system of government.
  17. Re:Euro - when will the usa adopt? by MoP030 · · Score: 3, Insightful

    duh, like e2 is a credible source.
    all variations of "thaler","taler" and "dollar" stem from the silver coins produced at the "Joachimstaler Silvermine" (which is named after the village Saint Joachimsthal in the Erzgebirge in what is today Germany) where silver coins are produce since pretty early. You may look that up in your favourite book of etymology.
    You may also know that Austrians speak german (or germans speak austrian, by the time the words came up nations like today didnt even exist).
    So yes the term doller comes a word that is as much austrian as it is german. Just because some spanish guy used the term "taler" to denote something similar to a taler does not make it a spanish word.

    --
    the most sexp i get is my paren-mode.
  18. Re:What they really need to do is... by mrtroy · · Score: 4, Funny

    Oh my, you havent entered many establishments off the border of Canada then.

    #1. Girls can "pick up" those loonies/toonies just fine with their orifices.
    #2. If you dont like a stripper, throwing one is both cheap and effective.

    But since I am going to Vegas for my 21st bday...I will have to master the art of giving the ladies the bills...
    I dont think coins go well over there...

    --
    [I can picture a world without war, without hate. I can picture us attacking that world, because they'd never expect it]