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United States one hundred-dollar bill

From Wikipedia, the free encyclopedia

One Hundred dollars
(United States)
Value$100
Width156 mm
Height66.3 mm
Weightc. 1.0[1] g
Security featuresSecurity fibers, watermark, 3D security ribbon, security thread, color shifting ink, microprinting, raised printing, EURion constellation
Paper type75% cotton
25% linen
Years of printing1861–present
Obverse
Obverse of the series 2009 $100 Federal Reserve Note.jpg
DesignBenjamin Franklin, Declaration of Independence, quill pen, inkwell
Design date2009
Reverse
New100back.jpg
DesignIndependence Hall
Design date2009

The United States one hundred-dollar bill ($100) is a denomination of United States currency. The first United States Note with this value was issued in 1862 and the Federal Reserve Note version was launched in 1914, alongside other denominations.[2] Statesman, inventor, diplomat, and American founding father Benjamin Franklin has been featured on the obverse of the bill since 1914.[3] On the reverse of the banknote is an image of Independence Hall in Philadelphia, which has been used since 1928.[3] The $100 bill is the largest denomination that has been printed and circulated since July 13, 1969, when the denominations of $500, $1,000, $5,000, and $10,000 were retired.[4] The Bureau of Engraving and Printing says the average life of a $100 bill in circulation is 90 months (7.5 years) before it is replaced due to wear and tear.

The bills are also commonly referred to as "Bens," "Benjamins," or "Franklins," in reference to the use of Benjamin Franklin's portrait on the denomination, or as "C-Notes," based on the Roman numeral for 100. The bill is one of two denominations printed today that does not feature a President of the United States; the other is the $10 bill, featuring Alexander Hamilton. It is also the only denomination today to feature a building not located in Washington, D.C., that being Independence Hall located in Philadelphia on the reverse. The time on the clock of Independence Hall on the reverse, according to the U.S. Bureau of Engraving and Printing, showed approximately 4:10[5] on the older contemporary notes and 10:30 on the series 2009A notes released in 2013.

One hundred hundred-dollar bills are delivered by Federal Reserve Banks in mustard-colored straps ($10,000).

The Series 2009 $100 bill redesign was unveiled on April 21, 2010, and was issued to the public on October 8, 2013.[6] The new bill costs 12.6 cents to produce and has a blue ribbon woven into the center of the currency with "100" and Liberty Bells, alternating, that appear when the bill is tilted.

As of June 30, 2012, the $100 bill comprised 77% of all US currency in circulation.[7] Federal Reserve data from 2017 showed that the number of $100 bills exceeded the number of $1 bills. However, a 2018 research paper by the Federal Reserve Bank of Chicago estimated that 80 percent of $100 bills were in other countries. Possible reasons included economic instability that affected other currencies, and use of the bills for criminal activities.[8]

YouTube Encyclopedic

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Transcription

Let’s talk about money. This is a $100 bill. 5-year-old me would be incredibly stoked if he knew he would one day get to hold one of these. Actually, he’d be confused, because a 100 dollar bill looked quite a bit different when I was a wee lad. This particular design was unveiled on April 1, 2010, and entered circulation in the United States on October 8, 2013. The C-note gets redesigned about every 6-10 years, which means we’re about due for a new one. All of our notes are in need of an update, actually. United States currency gets a lot of flak for looking sort of dull, featuring nothing but buildings on the back, and dead presidents on the front - except these two, these two were actually never elected - but, you get the point: compared to other banknotes worldwide, ours aren't very flashy. There are a number of reasons for this. Tradition plays probably the biggest role, but another important factor is security. High denomination bills contain several anti-counterfeiting measures, and designing around these makes it difficult for the bills to look good. Take this $100 bill, for example. The designers of this modern version had to find a way to seamlessly blend the classic design that citizens were familiar with, while mitigating a slew of new security features that are difficult to incorporate in a way that feels natural. Not to mention the fact that the bill itself needs a low manufacturing cost so that it can be produced on a mass scale. It might surprise you to learn that it costs 12 and a half cents to produce this particular bill - and while that SEEMS like a small price to pay for $100, when you realize this is actually a 60% increase over the previous design, (and that the government prints 1 and a half billion of these bills every year) you begin to understand the importance making every penny count. So, what does 12 and a half cents buy you in terms of anti-counterfeiting measures? Let’s take a look. It starts with the bill’s paper, which, ironically, isn’t actually paper at all, but rather a fabric, consisting of a linen and cotton blend, which allows the bill to last longer and endure thousands upon thousands of foldings. It goes even further than that: embedded inside of the bill’s fabric are tiny red and blue security fibers that make it extremely difficult to produce a counterfeit material that looks and feels authentic. Printed on the back of the bill is a vignette of Independence Hall, and on the front, a classic portrait of Benjamin Franklin. This has been the standard imageset of the $100 bill for the past few decades, but the newest model takes it a step further with some important security improvements. Place your finger onto Franklin's shoulder on the left side of the bill. Move it up and down, and you'll feel a rough texture, thanks to an enhanced raised printing technique. Genuine C-notes have a distinct surface (different from other denominations) and many a counterfeit bill has been detected simply because it "didn't feel right". Next, move your attention to Franklin’s jacket collar. You might need a magnifying glass to see it, but using a process called microprinting, the phrase “THE UNITED STATES OF AMERICA” is etched along the collar’s edge. USA 100 is printed around the blank space containing the portrait watermark, ONE HUNDRED USA along the golden quill, and small 100 numbers in the bill's border design. On the back, a large gold 100 has been placed to assist people with vision impairments in distinguishing between the different denominations. On the front, some of the classic design choices are retained. The double seals on either side (one for the Federal Reserve System, and one for the US Department of Treasury.) The serial code, a unique combination of eleven numbers and letters, appears twice, and, underneath the left code is a letter and number that identifies which Federal Reserve Bank distributed the bill. But enough of the small stuff. Let’s get to the big security features! Probably the most striking thing about the $100 bill is the introduction of a 3D Security Ribbon that's placed just off-center. The ribbon is woven into the design, not printed. If you try and remove it, the bill is essentially destroyed, and becomes worthless. Tilt the note back and forth, and you'll see the bells displayed on the ribbon change into 100s. Tilt it side to side, and the embedded images move up and down. Next, the copper inkwell. Tilt the note, and you'll see a color-shifting bell inside of it that changes from copper to green, making it seem as if the bell is disappearing and reappearing. A similar feature appears on the numeral 100 in the lower right corner. Tilting the bill will cause it to shift from copper to green, as well. Next, like most other bills, there's a secondary portrait that appears in watermark on the side of the note. Hold the bank note up to a light, and a faint image of Benjamin Franklin can be seen in the blank space to the right of the portrait. The image is visible from both sides of the note, and still remains an important part of quickly identifying fake bills. Counterfeiters will often attempt to convert smaller denomination bills into larger ones, but this embedded watermark helps to prevent such tricks. If you hold a one-hundred up to the light and see a different portrait in the blank space, you'll know a counterfeiter is attempting to pass a smaller bill off as a larger one. And finally, a hidden Security thread is embedded on the left side of the bill. Hold up a light to the note, and you'll see it. In fact, all denominations, five dollars and up have this feature, all in separate locations on the bills. This particular note's thread is imprinted with the letters USA and the numeral 100 in an alternating pattern. The security thread glows pink when illuminated by ultraviolet light. Taken together, the improvements to the $100 bill illustrate a substantial leap forward not only in printing technology, but the effort that the federal government will go to to keep funny money out of our pockets. But, as printing technology like this becomes more and more ubiquitous, they’ll have to work harder and harder to stay ahead of the curve. So, what will the next generation of bank notes look like in America? With the estimated lifespan of many of these bills reaching their conclusion, we won’t have to wait very long to find out. Ever come across a counterfeit bill? Tell me your story in the comments! Discovering that the cash in your pocket is counterfeit could ruin your day, but having your identity stolen - that can ruin your life. This video’s sponsor, Dashlane, wants to prevent your information from being compromised by providing a tool that generates strong passwords, stores them, and autofills on whatever sites you visit, seamlessly across all of your devices. And you can use it for FREE - there’s no excuse not to try it. Follow the link in the description, and in a handful of minutes you can get secure. If you like the service, you can upgrade to a Premium version with even more features, like a VPN for all your Dashlane devices, and Dark Web Monitoring which looks through the more nefarious parts of the web to see if your emails or passwords are being passed around. And guess what? By using the link in the description, they’ll let you use Premium for a whole month for FREE, and if you decide to stick with Premium, you can use the promo code austinmcconnell at checkout to get a 10% discount. That’s https://dashlane.com/austinmcconnell to start using the service. And if you want to upgrade to Premium, use promo code austinmcconnell at checkout for a 10% discount.

Contents

Large size note history

(approximately 7.4218 × 3.125 in ≅ 189 × 79 mm)

  • 1861: Three-year 100-dollar Interest Bearing Notes were issued that paid 7.3% interest per year. These notes were not primarily designed to circulate and were payable to the original purchaser of the dollar bill. The obverse of the note featured a portrait of General Winfield Scott.
  • 1862: The first $100 United States Note was issued.[3] Variations of this note were issued that resulted in slightly different wording (obligations) on the reverse; the note was issued again in Series of 1863.
  • 1863: Both one and two and one half year Interest Bearing Notes were issued that paid 5% interest. The one-year Interest Bearing Notes featured a vignette of George Washington in the center, and allegorical figures representing "The Guardian" to the right and "Justice" to the left. The two-year notes featured a vignette of the U.S. treasury building in the center, a farmer and mechanic to the left, and sailors firing a cannon to the right.
  • 1863: The first $100 Gold Certificates were issued with a bald eagle to the left and large green 100 in the middle of the obverse. The reverse was distinctly printed in orange instead of green like all other U.S. federal government issued notes of the time.
  • 1864: Compound Interest Treasury Notes were issued that were intended to circulate for three years and paid 6% interest compounded semi-annually. The obverse is similar to the 1863 one-year Interest Bearing Note.
  • 1869: A new $100 United States Note was issued with a portrait of Abraham Lincoln on the left of the obverse and an allegorical figure representing architecture on the right. Although this note is technically a United States Note, TREASURY NOTE appeared on it instead of UNITED STATES NOTE.
1880 $100 Legal Tender (1869 version)
1880 $100 Legal Tender (1869 version)
  • 1870: A new $100 Gold Certificate with a portrait of Thomas Hart Benton on the left side of the obverse was issued. The note was one-sided.
  • 1870: One hundred dollar National Gold Bank Notes were issued specifically for payment in gold coin by participating national gold banks. The obverse featured vignettes of Perry leaving the USS St. Lawrence and an allegorical figure to the right; the reverse featured a vignette of U.S. gold coins.
  • 1875: The reverse of the Series of 1869 United States Note was redesigned. Also, TREASURY NOTE was changed to UNITED STATES NOTE on the obverse. This note was issued again in Series of 1878 and Series of 1880.
  • 1878: The first $100 silver certificate was issued with a portrait of James Monroe on the left side of the obverse. The reverse was printed in black ink, unlike any other U.S. Federal Government issued bill.
Series 1878 $100 silver certificate
Series 1878 $100 silver certificate
  • 1882: A new and revised $100 Gold Certificate was issued. The obverse was partially the same as the Series 1870 gold certificate; the border design, portrait of Thomas H. Benton, and large word GOLD, and gold-colored ink behind the serial numbers were all retained. The reverse featured a perched bald eagle and the Roman numeral for 100, C.
  • 1890: One hundred dollar Treasury or "Coin Notes" were issued for government purchases of silver bullion from the silver mining industry. The note featured a portrait of Admiral David G. Farragut. The note was also nicknamed a "watermelon note" because of the watermelon-shaped 0's in the large numeral 100 on the reverse; the large numeral 100 was surrounded by an ornate design that occupied almost the entire note.
  • 1891: The reverse of the Series of 1890 Treasury Note was redesigned because the Treasury felt that it was too "busy" which would make it too easy to counterfeit. More open space was incorporated into the new design.
  • 1891: The obverse of the $100 Silver Certificate was slightly revised with some aspects of the design changed. The reverse was completely redesigned and also began to be printed in green ink.
  • 1914: The first $100 Federal Reserve Note was issued with a portrait of Benjamin Franklin on the obverse and allegorical figures representing labor, plenty, America, peace, and commerce on the reverse.
1914 $100 Federal Reserve Note
1914 $100 Federal Reserve Note
  • 1922: The Series of 1880 Gold Certificate was re-issued with an obligation to the right of the bottom-left serial number on the obverse.
1922 $100 Gold Certificate
1922 $100 Gold Certificate

Small size note history

(6.14 × 2.61 in ≅ 157 × 66 mm)

  • 1929: Under the Series of 1928, all U.S. currency was changed to its current size and began to carry a standardized design. All variations of the $100 bill would carry the same portrait of Benjamin Franklin, same border design on the obverse, and the same reverse with a vignette of Independence Hall. The $100 bill was issued as a Federal Reserve Note with a green seal and serial numbers and as a Gold Certificate with a golden seal and serial numbers.
  • 1933: As an emergency response to the Great Depression, additional money was pumped into the American economy through Federal Reserve Bank Notes issued under Series of 1929. This was the only small-sized $100 bill that had a slightly different border design on the obverse. The serial numbers and seal on it were brown.
  • 1934: The redeemable in gold clause was removed from Federal Reserve Notes due to the U.S. withdrawing from the gold standard.
  • 1934: Special $100 Gold Certificates were issued for non-public, Federal Reserve bank-to-bank transactions. These notes featured a reverse printed in orange instead of green like all other small-sized notes. The wording on the obverse was also changed to ONE HUNDRED DOLLARS IN GOLD PAYABLE TO THE BEARER ON DEMAND AS AUTHORIZED BY LAW.
  • 1950: Many minor aspects on the obverse of the $100 Federal Reserve Note were changed. Most noticeably, the treasury seal, gray numeral 100, and the Federal Reserve Seal were made smaller; also, the Federal Reserve Seal had spikes added around it.
  • 1963: Because dollar bills were no longer redeemable in silver, beginning with Series 1963A, WILL PAY TO THE BEARER ON DEMAND was removed from the obverse of the $100 Federal Reserve Note and the obligation was shortened to its current wording, THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE. Also, IN GOD WE TRUST was added to the reverse.
  • 1966: The first and only small-sized $100 United States Note was issued with a red seal and serial numbers. It was the first of all United States currency to use the new U.S. treasury seal with wording in English instead of Latin. Like the Series 1963 $2 and $5 United States Notes, it lacked WILL PAY TO THE BEARER ON DEMAND on the obverse and featured the motto IN GOD WE TRUST on the reverse. The $100 United States Note was issued due to legislation that specified a certain dollar amount of United States Notes that were to remain in circulation. Because the $2 and $5 United States Notes were soon to be discontinued, the dollar amount of United States Notes would drop, thus warranting the issuing of this note.
  • 1990: The first new-age anti-counterfeiting measures were introduced under Series 1990 with microscopic printing around Franklin's portrait and a metallic security strip on the left side of the bill.
  • March 25, 1996: The first major design change since 1929 took place with the adoption of a contemporary style layout. The main intent of the new design was to deter counterfeiting. New security features included a watermark of Franklin to the right side of the bill, optically variable ink (OVI) that changed from green to black when viewed at different angles, a higher quality and enlarged portrait of Franklin, and hard-to-reproduce fine line printing around Franklin's portrait and Independence Hall. Older security features such as interwoven red and blue silk fibers, microprinting, and a plastic security thread (which now glows pink [nominally red] under a black light) were kept. The individual Federal Reserve Bank Seal was changed to a unified Federal Reserve Seal along with an additional prefix letter being added to the serial number, w. The first of the Series 1996 bills were produced in October 1995.[9]
  • February 2007: The first $100 bills (a shipment of 128,000 star notes from the San Francisco FRB) from the Western Currency Facility in Fort Worth, Texas are produced, almost 16 years after the first notes from the facility were produced. The shipment makes the $100 bill the most recently added production to the facility's lineup. 4.6 billion notes were produced at the facility with series 2006 and Cabral and Paulson signatures, including about 4.15 million star notes.[10]
  • October 8, 2013: The newest $100 bill was announced on April 21, 2010, and entered circulation on October 8, 2013.[6] In addition to design changes introduced in 1996, the obverse features the brown quill that was used to sign the Declaration of Independence; faint phrases from the Declaration of Independence; a bell in the inkwell that appears and disappears depending on the angle at which the bill is viewed; teal background color; a borderless portrait of Benjamin Franklin; a blue "3D security ribbon" (trademarked "Motion" by Crane Currency[11]) on which images of Liberty Bells shift into numerical designations of "100" as the note is tilted; and to the left of Franklin, small yellow 100s whose zeros form the EURion constellation. The reverse features small yellow EURion 100s and has the fine lines removed from around the vignette of Independence Hall. These notes were issued as Series 2009A with Rios-Geithner signatures. Many of these changes are intended not only to thwart counterfeiting but to also make it easier to quickly check authenticity and help vision impaired people.[12]

Removal of large denomination bills ($500 and up)

The Federal Reserve announced the removal of large denominations of United States currency from circulation on July 14, 1969. The one-hundred-dollar bill was the largest denomination left in circulation. All the Federal Reserve Notes produced from Series 1928 up to before Series 1969 (i.e. 1928, 1928A, 1934, 1934A, 1934B, 1934C, 1934D, 1950, 1950A, 1950B, 1950C, 1950D, 1950E, 1963, 1966, 1966A) of the $100 denomination added up to $23.1708 billion.[13] Since some banknotes had been destroyed, and the population was 200 million at the time, there was less than one $100 banknote per capita circulating.

As of June 30, 1969, the U.S. coins and banknotes in circulation of all denominations were worth $50.936 billion of which $4.929 billion was circulating overseas.[14] So the currency and coin circulating within the United States was $230 per capita. Since 1969, the demand for U.S. currency has greatly increased. The total amount of circulating currency and coin passed one trillion dollars in March 2011.

Despite the degradation in the value of the U.S. $100 banknote (which was worth more in 1969 than a U.S. $500 note would be worth today, or $683.21), and despite competition from some more valuable foreign notes (most notably, the 500 euro banknote), there are no plans to re-issue banknotes above $100. The widespread use of electronic means to conduct high-value transactions today has made large-scale physical cash transactions obsolete and therefore, from the government's point of view, unnecessary for the conduct of legitimate business. Quoting T. Allison, Assistant to the Board of the Federal Reserve System in his October 8, 1998 testimony before the U.S. House of Representatives, Subcommittee on Domestic and International Monetary Policy, Committee on Banking and Financial Services:

There are public policies against reissuing the $500 note, mainly because many of those efficiency gains, such as lower shipment and storage costs, would accrue not only to legitimate users of bank notes but also to money launderers, tax evaders and a variety of other lawbreakers who use currency in their criminal activity. While it is not at all clear that the volume of illegal drugs sold or the amount of tax evasion would necessarily increase just as a consequence of the availability of a larger dollar denomination bill, it no doubt is the case that if wrongdoers were provided with an easier mechanism to launder their funds and hide their profits, enforcement authorities could have a harder time detecting certain illicit transactions occurring in cash.[15]

References

  1. ^ U.S. Currency Education Program. "Weight of a US Banknote". uscurrency.gov. US Federal Reserve. Retrieved 19 January 2018.
  2. ^ Barbara Maranzani (April 25, 2013). "It's All About the (New) Benjamins". history.com.
  3. ^ a b c Sandra Choron; Harry Choron (2011). Money: Everything You Never Knew About Your Favorite Thing to Find, Save, Spend & Covet. Chronicle Books. p. 208.
  4. ^ "For Collectors: Large Denominations". Bureau of Engraving and Printing. Archived from the original on September 11, 2007. Retrieved 2012-04-06.
  5. ^ "Money Facts". Bureau of Engraving and Printing. Archived from the original on 2012-03-10. Retrieved 2012-04-06.
  6. ^ a b "The Redesigned $100 Note". Bureau of Engraving and Printing. April 21, 2010. Archived from the original on April 28, 2013. Retrieved 2012-04-06.
  7. ^ Phillips, Matt (21 November 2012). "Why the share of $100 bills in circulation has been going up for over 40 years". Quartz. The Atlantic Media Company. Retrieved 5 March 2019.
  8. ^ Telford, Taylor; Whalen, Jeanne (5 March 2019). "There are more $100 bills in circulation than $1 bills, and it makes no cents". News & Record. Retrieved 5 March 2019 – via The Washington Post.
  9. ^ USPaperMoney.Info: Series 1996 $100 July 1999
  10. ^ USPaperMoney.Info: Series 2006 $100 April 2012
  11. ^ Crane Currency. "MOTION Micro-Optics Banknote Security". Retrieved 6 October 2017.
  12. ^ uscurrency. "$100 Note Podcast Episode: 1". YouTube. Retrieved 2012-04-06.
  13. ^ "US Paper Money information: Serial Number Ranges". USPaperMoney.Info. Retrieved 2012-04-06.
  14. ^ "Some Tables of Historical U.S. Currency and Monetary Aggregates Data" (PDF). Federal Reserve Bank of St. Louis. Retrieved 2012-04-06.
  15. ^ "Will Jumbo Euro Notes Threaten the Greenback?". U.S. House of Representatives. October 8, 1998. Retrieved 2012-04-06.

Further reading

  • Friedberg, Arthur; Ira Friedberg; David Bowers (2005). A Guide Book of United States Paper Money: Complete Source for History, Grading, and Prices (Official Red Book). Whitman Publishing. ISBN 0-7948-1786-6.
  • Hudgeons, Thomas (2005). The Official Blackbook Price Guide to U.S. Paper Money 2006 (38th ed.). House of Collectibles. ISBN 1-4000-4845-1. OCLC 244167611.
  • Wilhite, Robert (1998). Standard Catalog of United States Paper Money (17th ed.). Krause Publications. ISBN 0-87341-653-8.

External links

This page was last edited on 26 April 2019, at 02:01
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