All About the New $50

by Patricia Schoepke, Webmaster, Bankers Information Network

FT. WORTH, TX - April 26, 2004 - U.S. government officials from the Department of the Treasury, the Federal Reserve and the United States Secret Service, today unveiled the new $50 note design with enhanced security features, and subtle background colors of blue and red, and images of a waving American flag and a small metallic silver-blue star.

The new design is part of the government's ongoing efforts to stay ahead of counterfeiting and protect the integrity of U.S. currency. These new bills will remain the same size as those currently in use, and will use the same, but enhanced, portrait of Ulysses S. Grant and the image of the U.S. Capital on the back. By their new, distinguishing features and coloring, it is hoped that these new bills will become recognized as distinctively American.

Click on the link below to see a description of the security features to look for when you first see the new $50:

Watermark
Hold the bill up to the light, you see a watermark, similar to the large portrait. It can be seen from both sides of the note.
Security Thread
Once again, holding the bill up to the light, you can see the security thread, which is actually a plastic strip, embedded in the paper, running vertically on the right side of the image of U.S. Grant. Looking very closely, the words "USA 50" and a small flag are visible along the thread from both sides of the note. This thread glows yellow when held under an ultraviolet light.
Color-Shifting Ink
Look at the number "50" in the lower right corner on the face of the bill, then move the note slightly up and down. See the ink on this numeral change from copper to green.
Microprinting
The redesigned $50 note features microprinting on the face of the note in three areas: the words "FIFTY," "USA," and the numeral "50" is found in two of the blue stars to the left of the portrait. The word "FIFTY" is found repeated within both side borders of the note; and the words "THE UNITED STATES OF AMERICA" appear on U. S. Grant's collar, under his beard.
Macroprinting
The large numeral "50" in the lower right corner on the back of the bill is larger than in the other three corners.
Federal Reserve Indicators
A universal seal to the left of the portrait represents the entire Federal Reserve System. A letter and number beneath the left serial number identifies the issuing Federal Reserve Bank.
Serial Numbers
The unique combination of eleven numbers and letters appears twice on the face of the note. On the new $50 note, the left serial number has shifted slightly to the right, compared with previous designs.
Symbols of Freedom
New symbols of freedom are present on the face of the $50 note to represent images of the American flag. The traditional stars and stripes flag appear in blue and red behind the portrait. A field of blue stars shows to the left of the portrait, with three red stripes to the right. There is a small metallic silver-blue star on the lower right side of the portrait.
Color
The most noticeable difference in the newly designed $50 note is the addition of subtle background colors of blue and red to both sides of the note. Small, yellow 50s are printed in the background on the back of the note.
Updated Portrait and Vignette
The oval borders and fine lines surrounding the portrait of President Grant on the face and the United States Capitol vignette on the back are gone, the portrait is moved up and shoulders extended into the border. Additional engraving details is added to the vignette background.

The Plan is: A Smooth Transition
Work is already well underway to prepare the cash-handling industry for the new $50 note, and with outreach extended to manufacturers of self-service checkout counters, which are becoming increasingly prevalent at retail locations. You can reassure your customers that they won't have to exchange your old bills for new ones. Their old money will always be good. Every U.S. currency note issued since 1861 is still redeemable today at full face value. Both the new notes and the older-design notes will continue to be legal currency at full face value. The U.S. has never devalued its currency and will not do so now. Now is the time to start preparing your tellers, consumer customers and business customers for the transition of the new bills.

To avoid some of the problems encountered with the release of the new $20, Treasury has promised to work on the retail/commercial aspects prior to the circulation of the new $50. You may recall that some vending machines were unable to recognize the new bills last time.

Readying Your Staff and Customers

Keep abreast of the release date for the new bill. Banks need to know precisely when the new bill will officially be in circulation. Counterfeiters took advantage of the new $20 design because it was new and different. Watch for new $50s BEFORE the release date, period. Before and after that date, have staff trained on the security features of the new bill so they know exactly what to look for in legitimate currency.
Consider offering information/training to your commercial customers as well. Their cash handlers will need this information, and who better to get it from than their bank.
Ask your commercial customers in advance if they want new bills, or if they would prefer to stick with the old design for a while.
Expect some consumer customers to be asking for the new bills shortly after their release, and arrange for some to be included with your currency order shortly after the bill is distributed.

The new $50 notes will be safer, smarter and more secure currency: safer because they will be harder to fake and easier to check; smarter to stay ahead of tech-savvy counterfeiters; more secure to protect the integrity of U.S. currency. "We want the public to know how to use the security features to protect their hard-earned money," said Spriggs. "The combined efforts of public education, aggressive law enforcement, and improved currency security features have increased public awareness and have helped in the fight against counterfeiting."

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First published on BankersOnline.com 4/26/04