12/6/10

I've heard of blank checks, but blank $100 bills?

Reproduction of a Charles Mills painting by th...Image via WikipediaAccording to this news article, even the government printers are having trouble reproducing the new high-tech $100 bills.

At the time, officials announced the new bills would incorporate sophisticated high-tech security features, including a 3-D security strip and a color-shifting image of a bell designed to foil counterfeiters.
But the production process is so complex, it has instead foiled the government printers tasked with producing billions of the new notes. 
The main problem is evidently that the paper folds during the printing process, leaving a blank space on the bill's face.

But here's the amazing fact: "The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of US currency on the planet, which a government source said is $930 billion in banknotes."

Also, because the problem is random, they can't definitely say how many of the 1.1 billion bills have the problem. They either have to sort them by hand, or develop a brand new mechanized sorting process.  To sort them by hand "could take between 20 and 30 years. Using a mechanized system, they think they could sort the massive pile of bills, each of which features the familiar image of Benjamin Franklin on the face, in about one year."

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