Fed releases new $100 bill designed to discourage counterfeiters

New 100 billThe Federal Reserve released a redesigned $100 bill on Tuesday that incorporates a number of new security features designed to discourage counterfeiting and to help consumers and businesses determine whether a bill is genuine.

“The new design incorporates security features that make it easier to authenticate, but harder to replicate,” Federal Reserve Board Governor Jerome H. Powell said. “As the new note transitions into daily transactions, the user-friendly security features will allow the public to more easily verify its authenticity.”

The newly redesigned note is the result of a decade-long effort by the Federal Reserve, U.S. Treasury, Bureau of Engraving and Printing and Secret Service to address counterfeiting.

The new $100 bill includes a blue 3D security ribbon with images of 100s and bells and a color-changing bell in an inkwell, as well as retained features such as the watermark, making it easier for the public to determine whether or not a bill is counterfeit.

“It’s what we consider the most sophisticated U.S. bank note ever released into circulation,” Paul Graham of the Miami Branch of the Federal Reserve Bank of Atlanta said, according to CBS Miami.

Production problems delayed printing of the new bills for two years, after which time $3.5 billion worth of bills were printed at a cost of 12.8 cents each, approximately five cents more than the last issue.

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