New $100 bills for release this October, but $30 million to be destroyed due to printing problem

By on Aug 15, 2013 in United States Comments

The scheduled release of the new $100 bills will still be followed as earlier planned. This is despite the fact that new problems surfaced the US Federal Reserve made another inspection, and more than $30 million of the notes will be destroyed, according to a New Yorker report this Wednesday, August 14, 2013.

new $100 bills

New $100 bills
Credit: ABC News

As noted in the news report, Federal Reserve director Larry Felix released a document to its employees last July stating that the latest batches of new $100 bills from the plant in Washington, D.C. are “clearly unacceptable.” With this, the agency will not receive any new notes from the said plant until further notice.

“We shipped three million hundred-dollar notes to the Federal Reserve. During an inspection they noticed a defect in a marginal number of notes. The few that were found to be defective, we will destroy here. When we go back to reinspect all the notes, we will charge the Federal Reserve for that process.” U.S. Bureau of Engraving and Printing (BEP) spokeswoman Darlene Anderson told ABC News.

The design of the new $100 bill was unveiled in 2010, wherein new security features such as a chameleon-like Liberty Bell, a very small text in the collar of Benjamin Franklin, and a blue, 3-D security ribbon will be incorporated so that the public can easily check if it is real and for counterfeiters to have a hard time to duplicate them.

The new US dollar was supposed to be released on February 2011, but the Federal Reserve announced in December 2010 that there was a printing problem, causing the released to be postponed. In April of this year, the agency said that the redesigned $100 bill will begin circulating on October 8, 2013. Anderson emphasized to ABC News that this date will still be followed.



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