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These 100 dollar notes will be phased out for the more secure ones. Photo/AFP

Finance

US issues new, secure $100 notes

These 100 dollar notes will be phased out for the more secure ones. Photo/AFP

These 100 dollar notes will be phased out for the more secure ones. Photo/AFP

NAIROBI, Kenya Oct 8 – The United States government has issued a new $100 note.

The Federal Reserve on Tuesday began supplying financial institutions with a redesigned $100 note that incorporates new security features to deter counterfeiters and help businesses and consumers tell whether a note is genuine.

Federal Reserve Board Governor Jerome Powell says the new design incorporates security features that make it easier to authenticate, but harder to replicate.

“As the new note transitions into daily transactions, the user-friendly security features will allow the public to more easily verify its authenticity,” he says.

Powell says the Federal Reserve, US Department of the Treasury, US Bureau of Engraving and Printing, and the US Secret Service partner to redesign Federal Reserve notes to stay ahead of counterfeiting threats.

The redesigned $100 note includes two new security features: a blue 3-D security ribbon with images of bells and 100s, and a colour-changing bell in an inkwell.

Benjamin Franklin’s portrait is featured on the front of the $100 note printed on paper composed of 25 percent linen and 75 percent cotton, and contains red and blue security fibres.

The new features, and additional features retained from the previous design, such as a watermark, offer the public a simple way to visually authenticate the redesigned $100 note.

Consumers worldwide are advised that it is not necessary to trade in older-design $100 notes for new ones. It is US government policy that all designs of US currency remain legal tender, regardless of when they were issued.

Distance, demand, and the policies of individual financial institutions will influence how quickly the redesigned notes reach businesses and consumers around the world.

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