Federal Government Shuts Down $100 Bill Printing Presses

I was just reading a really good article by Zachary Roth and thought it seemed applicable to this blog, especially since we deal with a lot of counterfeit money detectors. As we all know, counterfeit money is a huge problem. It costs businesses a lot of money in lost profit and revenue. There is a new problem out there, and it has to do with the $100 bill.

New $100 U.S. Bill

To try and make the $100 bill more difficult to copy, the U.S. Treasure and Federal Reserve have created a new $100 bill, 10 years in the making. This new bill contains high-tech features such as a 3D security strip, a color-shifting image of a bell and much more. In fact, these new bills were to be the first ever to include the Treasury Secretary Tim Geithner’s signature.

Something went wrong during the printing process. Apparently these new bills are so high-tech the machines that print them couldn’t handle it. Apparently several bills (about 1 billion of them) creased during the printing process, creating a big mess. The problem is that these “goofed” bills now constitute 10% of the $100 bills out there, which is about $110 billion of the $930 billion out there.

As a result of this issue, the printing presses have been stopped as the issue is being fixed. The Federal Government is now trying to track down all these bills. According to Zachary Roth’s article, it would take an estimated 20 to 30 years to weed out the defective bills by hand.

This process is being shrunk down to about a year, thanks to some high-tech equipment. Sadly, it will probably cost the government billions to track down these bad bills.

At this point I’m not sure if this will cause a problem with counterfeit detectors, although none of our manufacturers have indicated that this has caused any issues. Most of our counterfeit bill detectors are capable of detecting fake $100 bills in just seconds.

The good news, I suppose, is that these messed-up $100 bills will probably be huge collectors’ items and will be worth a lot more later on down the road.

You can find our entire selection of bill counters here and counterfeit bill detectors here.

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