Redesigned $100 Bill to be in Circulation October 8, 2013

April 25, 2013 | By SBS Payroll, Inc. 0 Comments

After a long wait, the Federal Reserve Board announced that the new $100 bill will be released for circulation in fourth quarter 2013. Read the Federal Reserve’s original Press Release below and FAQ’s for more details.

For Immediate Release
April 24, 2013

Federal Reserve Announces Day of Issue of Redesigned $100 Note

The Federal Reserve Board on Wednesday announced that the redesigned $100 note will begin circulating on October 8, 2013. This note, which incorporates new security features such as a blue, 3-D security ribbon, will be easier for the public to authenticate but more difficult for counterfeiters to replicate.

The new design for the $100 note was unveiled in 2010, but its introduction was postponed following an unexpected production delay. To ensure a smooth transition to the redesigned note when it begins circulating in October, the U.S. Currency Education Program is reaching out to businesses and consumers around the world to raise awareness about the new design and inform them about how to use its security features. More information about the new design $100 note, as well as training and educational materials, can be found at www.newmoney.gov. For media inquiries, call 202-452-2955.

FAQs about the Redesigned $100 note

When will I start to see the new $100 note in circulation?

The new $100 note will begin circulating on October 8, 2013. Once it is issued, any commercial bank, savings and loan, or credit union that orders $100 notes from the Federal Reserve will have its order filled with the new design. Distance, demand, and the policies of individual financial institutions will be the deciding factors in how quickly redesigned $100 notes reach the public, both in the U.S. and in international markets.

Do I have to trade in my older design notes when a new one begins circulating?

No. It is not necessary to trade in your older design $100 notes when the new ones begin circulating. All U.S. currency remains legal tender, regardless of when it was issued.

Will both older and redesigned $100 notes circulate at the same time?

It’s important that consumers and businesses know that it will not be necessary to trade in their old design $100 notes for new ones. Older designs of Federal Reserve notes remain legal tender, and will not be recalled, demonetized or devalued.

However, beginning on October 8, 2013, Federal Reserve Banks will only be paying new design $100 notes out to financial institutions. As older designs make their way through the banking system, they will eventually get returned to the Federal Reserve, where they will be destroyed.

When was the last time the $100 note was redesigned?

The last redesign of the $100 note began circulating in March 1996.

Why does the United States government periodically redesign its currency?

The United States government primarily redesigns U.S. currency to stay ahead of counterfeiting threats and keep counterfeiting levels low. The Federal Reserve, the Treasury Department, its Bureau of Engraving and Printing, and the United States Secret Service continuously monitor the counterfeiting threats for each denomination of U.S. currency and make redesign decisions based on these threats. An inter-agency committee makes recommendations on design changes to the Secretary of the Treasury, who has final authority for U.S. currency designs.



Copyright © SBS Payroll 2017 Legal Privacy Policy