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www.wmfd.com - The U.S. Treasury has a new $100 bill designed to stop counterfeitrs, but printing problems are delaying its release. }}" />

   
 
 
Production Of New $100 Bill Delayed By Printing Problems

Story By: Larry Stine

 

 

 
 
 
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  Original Published: 9/2/2013 The U.S. Treasury has a new $100 bill designed to stop counterfeitrs, but printing problems are delaying its release. Erin McPike has the details. Imagine having $3-billion in cash sitting in front of you, teasing you, that you couldn't use. That's what happened to the Federal Reserve this year because the country's money factory messed up. One of America's most familiar exports: the $100 bill. "We estimate as many as two-thirds of all $100 notes circulate outside the United States," says Federal Reserve Chairman Ben Bernanke. Accoring to currency expert Ben Mazzotta, of The Fletcher School at Tufts University "It's certainly one of the most valuabe bills to counterfeit." The mint was supposed to print a new design back in 2011, but they keep botching the bill. The first batch ended up with a blank spot, and the second round was lifted by thieves on their way to the Federal Reserve. "Ironically, it appears to be not those advanced features," says Mazzotta. "It's the way the paper they are using for this generation of printing is responding the weight of the printing press." The error could cost taxpayers about $4-million becuase the current bill costs 7-point-8-cents to produce, compared to 12-point-6-cents for the new one. "take a look at this. Blue ribbon is woven into the middle of the bill with alternating 100's and Liberty Bells that move when you tilt the paper," says CNN's Erin McPike. "And, this copper inkwell contains a Liberty Bell inside it that turns green when you move it." "Certainly, it's much harder to counterfeit the new bill than the old," says Mazzotta. "Every year that passes makes counterfeiting their old $100 bills that much easier." The government says crisp, new bills should be ready to change hands by Oct. 8, then the arms race against counterfeiting begins again. A spokeswoman for the Bureay of Engraving and Printing says less than one-percent of the $100 bills they shipped were affected. They plan to send the bulk of that batch back to the Federal Reserve, and the agency does have a sufficient supply to release on Oct. 8.
   
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