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All About the New $20
by BOL Guru Mary Beth Guard
It's official -- and it's the first multi-color U.S. currency, but the key adjective to describe the changes is subtle! The color is ---- drum roll, please -- COPPER! [They also claim there are green, peach and blue colors -- but we find it hard to really see those colors well on the sample pictures.] On May 13, 2003, the Bureau of Printing and Engraving held a live Webcast to unveil the design for the new $20 note that will be issued in late 2003. In addition, a public education program relating to the currency was also described.
The government says the new $20 notes will be safer, smarter and more secure currency. Their safety will stem from the fact they will be harder to fake and easier to check. They are smarter to stay ahead of tech-savvy counterfeiters. The notes are more secure to protect the integrity of the U.S. currency. Color makes the currency more difficult to counterfeit and makes it easier to tell apart for those with some types of visual impairments.
Participating in the Webcast were: Treasurer of the United States, Rosario Martin; Director of Secret Service, Ralph Basham; Federal Reserve Board Chairman, Alan Greenspan, and Treasury Secretary, John Snow.
The watermark remains the same, as does the security thread. In the new note, it is easier to see and appreciate the color-shifting ink on the number "20". You'll see what appears to be a copper color on one of the "20"s on the bill, plus a subtle curved design that says "Twenty USA USA Twenty". There's a bald eagle to the left of Jackson's portrait, too. Plus, you'll find a watermark on the bottom left of the back side of the note. SEE THE PICTURE BELOW
Chairman Greenspan noted that the average circulation of a new $20 bill is currently about two years. He therefore expects that within a few years, a high proportion of the new bills will be in circulation.
New designs to the currency will be introduced every seven to ten years. New designs for the $50 and $100 will be introduced in 2004 and 2005.
Here's what the Bureau of Printing and Engraving has to say about the new $20 note:
The most noticeable difference in the notes is the subtle green, peach and blue colors featured in the background. Different colors will be used for different denominations, which will help everyone -- particularly those who are visually impaired -- to tell denominations apart.
While consumers should not use color to check the authenticity of their currency (relying instead on user-friendly security features -- see below), color does add complexity to the note, making counterfeiting more difficult.
The new bills will remain the same size and use the same, but enhanced portraits and historical images of Andrew Jackson on the face of the note and the White House on the back. The redesign also features symbols of freedom -- a blue eagle in the background, and a metallic green eagle and shield to the right of the portrait in the case of the $20 note.
Security Features
The new $20 design retains three important security features that were first introduced in the late 1990s and are easy for consumers and merchants alike to check:
- The watermark -- the faint image similar to the large portrait, which is part of the paper itself and is visible from both sides when held up to the light.
The security thread -- also visible from both sides when held up to the light, this vertical strip of plastic is embedded in the paper. “USA TWENTY” and a small flag are visible along the thread.
The color-shifting ink -- the numeral “20” in the lower-right corner on the face of the note changes from copper to green when the note is tilted. The color shift is more dramatic and easier to see on the new-design notes.
Because these features are difficult for counterfeiters to reproduce well, they often do not try. Counterfeiters are hoping that cash-handlers and the public will not check their money closely.
Click here to see an image of the new bill.
See the Bureau of Printing and Engraving's Interactive Bill page.
More about the new $20:
http://www.moneyfactory.com/newmoney/
First published on BankersOnline.com 05/13/03
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