When I read a recent article about another new $100 bill being introduced by the feds, I wondered why another design? Was our currency being counterfeited to the point where we needed another new bill? My curiosity peaked and I thought I would pass on what I learned.
The new $100 bill will incorporate more high tech stuff to make the bill more difficult to counterfeit. There is a blue ribbon embedded into the new bill that contains a micro-image with a 3D effect. If one tilts the bill back and forth the image changes from bells to $100s and appears to move. This make checking the validity of whether the bill is real or counterfeit easier since you don’t need to hold the bill up to the light.
But why another new bill? Here is why:
Why is the US’s new $100 bill necessary?
The quick answer, say banking experts, is that $100 bills are the most common use of American currency by foreigners. Two-thirds of all $100 bills are in foreign pockets. Therefore, international counterfeiters feel they can get away with bigger sums of fake cash in the far reaches of Europe, Africa, and Asia – not to mention being far from the spotlights of law enforcement.
The new $100 bill is unveiled Wednesday by Treasury Secretary Timothy Geithner, Federal Reserve Chairman Ben Bernanke, Treasurer of the US Rosie Rios, and US Secret Service Deputy Director Keith Prewitt, at the Treasury Department in Washington.
So there you have it. The new design may help curtail the amount of counterfeiting that takes place for bills being circulated in foreign countries. Whether this works or not remains to be seen.