I didn't realize there were problems with the current $100 bill, but they will start issuing newer ones next February. There is bound to be some confusion as there will be at least 3 versions of the $100 bill circulating at that point.
http://online.wsj.com/article/SB10001424052748704133804575197990310606472.html?mod=WSJ_hpp_sections_newsWall Street Journal:
U.S. Unveils New $100 BillWASHINGTON—Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke unveiled a new $100 bill equipped with two new security features.
The bill will go into circulation Feb. 10, 2011.
The Fed, along with the Treasury Department, the Bureau of Engraving and Printing and the U.S. Secret Service, "continuously monitor the counterfeiting threats" for each denomination and redesign decisions are made based on those threats, Mr. Bernanke said.
"This job has become more complex in recent years as technology advances and U.S. dollar flows expand and increase," he added.
The bill—the highest denomination of all U.S. notes—circulates widely around the world, with circulation in the past 25 years growing to $890 billion from $180 billion.
About two-thirds of all $100 notes circulate outside the U.S.; Mr. Bernanke said the agencies must ensure people around the world are aware of the design change. Over the next several months, officials at the agencies will work to educate cash handlers, consumers and others about the design and explain how to use its security features.
The 6.5 billion or so $100 notes in circulation now will remain legal tender, Mr. Bernanke said.
The new bill's security features include a blue 3-D Security Ribbon on the front of the note that contains images of bells and 100s, which move and change from one to the other as you tilt the note, according to joint release from the agencies.
Another security feature is the "Bell in the Inkwell" image that changes color from copper to green when the note is tilted, an effect that makes it appear and disappear within the inkwell. (For more on the redesigned note and its features, visit
www.newmoney.gov.)
"As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," Mr. Geithner said.
The new design for the $100 note retains three effective security features from the previous design: the portrait watermark of Benjamin Franklin, the security thread, and the color-shifting numeral 100.
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