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 Replies: 15 / Views: 2,372 |
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Pillar of the Community
United States
3098 Posts |
:/ got this in my email Quote:
On October 1, the Federal Reserve Board announced a delay in the issue date of the redesigned $100 note. This new design incorporates cutting edge, anti-counterfeiting technologies and the Federal Reserve imposes strict quality controls to ensure that users of U.S. currency around the world receive the highest quality notes. The Bureau of Engraving and Printing manufactures Federal Reserve notes and has identified a problem with sporadic creasing of the paper during printing of the new $100 note, which was not apparent during extensive pre-production testing. As a consequence, the Federal Reserve will not have sufficient inventories to begin distributing the new $100 notes as planned.
The Bureau of Engraving and Printing is working to resolve this problem, and the Federal Reserve Board will announce a new issue date for the redesigned $100 note as soon as possible. The originally scheduled issue date was February 10, 2011. Interestingly, on all the MOTION notes I have, the strip section is very warped. But those notes had the strip in very equal sections, while the new $100 has a part of the strip much longer than the others. |
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Valued Member
United States
160 Posts |
I got that too.... I hope the delay isn't too long
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Moderator
 United States
188213 Posts |
Translation: someone in <insert countryname here> has already figured out a way to counterfeit the new note, so we are adding some new features. Just kidding.  I know first hand how there can be problems that pre-production testing often misses. |
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Pillar of the Community
3660 Posts |
Quote:
Translation: someone in <insert countryname here> has already figured out a way to counterfeit the new note, so we are adding some new features. That could be much closer to the truth than any of us might imagine. |
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Bedrock of the Community
Australia
21786 Posts |
Way back in 1970, I was crossing the border from Afghanistan into Iran. There was a fuel station there, and there were lots of international transport trucks. These trucks, which were huge, are the only way to transport commercial cargoes from Europe into Afghanistan. They would refuel after paying border crossing fees and import duties in cash.
The cash used for these payments was U.S.Dollars all in $100 bills. At the counter of the border post there perhaps 50 or so bundles of $100's, with what looked like 100 notes in each bundle.
I wondered at the time how many of those notes would have been counterfeit. I knew at the time that there was very sophisticated counterfeiting operations going on in the Middle East, using the correct printing methods.
There is only one major highway through Afghanistan, and there are no railways. The highway was built jointly by the U.S. and Russians during WW2.
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Pillar of the Community
United States
1285 Posts |
Quote:
problem with sporadic creasing of the paper Gutter fold....  |
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Pillar of the Community
United States
1285 Posts |
I highly doubt anyone can counterfeit the new notes for a while. "My understanding" is that the new printing equipment (lack of a better term) is "custom built" for the BEP.
Ergo no one else can get the same equipment.
The flip side is in the need / urgency to repatriate all the older $100's that are overseas currently. That's where the counterfeit 100's currently reside and they are not going to come out and publicly state this.
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Pillar of the Community
United States
1397 Posts |
It's actually irrelevant whether anyone can counterfeit the new hundreds. As long as someone is able to crank out the older ones there will never be a need to do so. Both new and old are accepted as legal payment of debts. The only time where it stops being profitable to counterfeit a note is when that "style" of note starts to become rare making it stand out to people and that is still many years away for the older hundreds. By that time the counterfeiters will have figured out how to duplicate these newer notes.
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Pillar of the Community
3660 Posts |
Quote:
It's actually irrelevant whether anyone can counterfeit the new hundreds. As long as someone is able to crank out the older ones there will never be a need to do so. Both new and old are accepted as legal payment of debts. The only time where it stops being profitable to counterfeit a note is when that "style" of note starts to become rare making it stand out to people and that is still many years away for the older hundreds. By that time the counterfeiters will have figured out how to duplicate these newer notes.  I'm with you Nick. Counterfeiters are not just gangs of guys, but large organizations or sovereign nations. |
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Pillar of the Community
United States
1397 Posts |
I personally have busted two Ma/Pa small time counterfeit operations.
One time I was doing the deposit for the day before and there were two counterfeit $20 (same serials) in the deposit. I knew I could figure out who had passed them because it was on a day when the register only made $40!
All I had to do was watch the cameras to see who gave the cashier the two notes. I saw a female come in ask for change to use the payphone give the cashier one twenty, and then leave without using the phone. OK one down. Then 5 minutes later the same female comes back in and asks for change to get a taxi and my cashier again happily hands her change and she leaves again.
I printed out many copies of her picture and she was carrying a very distinct purse.
About a week later I was working and I saw her (and her distinct purse) get out of a car in the parking lot. I wrote down the make/model/license info and waited for her to come in and ask for change, called the cops and had her busted.
It was very satisfying.
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Pillar of the Community
3660 Posts |
What was it that originally alerted you Nick? Was it the serial numbers only, or were there other aspects of the notes that looked fishy? I really don't know that I could pick one out.....Never have yet anyway.
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Pillar of the Community
United States
1397 Posts |
I have found several counterfeit notes and it is usually the feel of the paper that gives it away. When you are counting many notes and you come across one the sound and feel is different.
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Pillar of the Community
3660 Posts |
I only hold circulating money in my hands a couple of times a year on average. I am mainly a plastic type of person. Very interesting and quite imaginable Nick. Thanks.
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Bedrock of the Community
Australia
21786 Posts |
Australia uses Mylar (plastic) for the substrate in their notes. It is not a complete answer to the counterfeiters, but it has significantly reduced the amount of counterfeiting of Australian notes.
The idea of plastic notes started in Oz. in 1988 for a one off Commemorative note, now all of the Oz. notes are plastic. Since then, about 30 countries have at least some of their currency in plastic notes. They last about 10 times as long as paper notes.
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Pillar of the Community
 United States
3098 Posts |
I've actually had the luck to see a few counterfeit polymer notes - Vietnamese ones. They seem to be paper, but the clear film in the middle seems to be a hard piece of lamination material that they somehow stuck between the 2 pieces of paper.
They didn't have a design in the window (the embossed number) but still interesting nevertheless.
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Valued Member
United States
176 Posts |
they shouldn't release the design until shortly before releasing the note, though I'm sure the delay is not due to counterfeiting - like others have said - it's easier to just counterfeit the older notes anyway.
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Replies: 15 / Views: 2,372 |
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Posted 10/01/2010 3:43 pm
