What You Need to Know About New $100 Bill
In recent years, the United States government redesigned multiple banknotes in order to curb counterfeiting and make it harder for criminal organizations and unscrupulous individuals to forge U.S. bills. As Cummins Allison, the leading innovator and provider of coin, currency and check handling solutions, explains, government officials are always looking for ways to stay one step ahead of those trying to produce counterfeit U.S. currency.
The latest currency designs include more advanced security features that will allow retailers, grocers, businesses and consumers to ensure their bills are legitimate and avoid the problems associated with counterfeit notes. The newly designed $100 bill will be introduced on October 8, 2013 and its design carries several features that aim to make it harder to print bills that will pass as real U.S. currency.
A 3D security ribbon features bells that change to read "100s" when moved back and forth. This ribbon, which is woven into the currency, rather than printed on it, is one of the first things workers at retail and grocery businesses should look for when checking the validity of a bill. Similarly, the redesigned $100 bill also features a bell inside an inkwell, and when the bill is tilted, this bell changes from copper to green.
Besides innovations that allow people to determine the validity of a bill by looking at it from multiple angles, the new currency also offers a variety of other security options that are difficult to forge. A portrait watermark, raised printing, security thread and microprinting all offer banks and businesses alternative ways to determine if a note is valid.
While the U.S. government has attempted to thwart groups that counterfeit American money, they can never completely deter those who are determined to accurately fake U.S. currency. Criminal organizations are still trying to find ways to forge bills by taking advantage of consumers' lack of knowledge of the new banknote security components or trying out new methods to fake these anti-forgery features.
It's important for retailers, grocers and businesses that deal with a great deal of cash each day to be able to tell the difference between real and cleverly counterfeited bills. However, even knowledgeable individuals can be fooled by an accurately faked note. A currency counting machine with the ability to detect forgeries is essential for an operation that handles cash on a daily basis. Having the right technology on hand can ensure that no counterfeit currency is infiltrating a cash room and being redistributed to customers.
To avoid any operational interruptions, retailers, grocers and businesses should ensure their currency counting equipment is able to process the new $100 bills now – not after the bill is introduced. Upgrading existing Cummins Allison equipment can usually be done simply and efficiently. For example, Cummins Allison JetScan customers can order a DIY kit via the web to quickly and easily upgrade their JetScan one-and two-pocket currency counting machines.
With the introduction of the newly designed $100 bills, it is also an opportune time for organizations to replace outdated currency counting equipment that is slow or jams too often.
By preparing now, companies can take advantage of Cummins Allison’s special JetScan iFX promotion to trade-in competitive equipment or upgrade existing solutions.