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Series 2004 (NCM) “New $100” News

March 2, 2009

As of January 21, 2009, “[t]he BEP is currently production-testing the Series 2004 $100 note.”

“The increased $100 note production costs reflect overall improvements to the security of the note, including new public features that incorporate years of research to enhance the public’s ability to authenticate Federal Reserve notes. These features raise the costs of paper and ink significantly. Per note costs for paper, ink, and labor for all other denominations decreased slightly from 2008.”

One of the ‘new public features’ is widely reputed to be Crane’s MOTION thread. Blank sheets with MOTION in them could reasonably cost more than similar sheets with a ‘normal’ security thread – but what would raise the cost of  the ink? That suggests a new ink not in use on the new $20’s or $50’s.

“In 2006, we recognized that BEP production capacity would be temporarily constrained by the approximately 3.5 billion Series 2004 $100 notes that we estimated it would need to produce in fiscal years 2009 and 2010. Although the release date for the Series 2004 $100 note remains uncertain, for budget planning purposes we assumed that Reserve Banks will begin to issue the notes in early 2010.”

“… [T]he proposed 2009 budget includes 1.3 billion Series 2004 $100 notes …”

“The BEP is currently testing the note extensively; therefore, the actual timeline for production … [is] uncertain at this time.”

Source: FRB 2009 New Currency Budget.

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