BEP Denies Large-scale New $100 Printing Error
The BEP has responded to allegations of a large-scale printing error in the run of new $100 bills via the Treasury Department’s blog.
Director of the BEP Larry R. Felix published a blog post yesterday, December 8, 2010, that included the following points (which I paraphrase here):
Following the October 1, 2010 announcement of the delay of the scheduled public release of the new $100 notes due to sporadic paper creasing, the BEP examined the notes printed up to that time, checking for said paper creasing.
During that manual inspection of the nearly 22 million extant notes, less than 2% were considered unfit – that is less than 440,000 notes.
The BEP is continuing to conduct a thorough quality control process with the Federal Reserve and the paper manufacturer (Crane & Co.) to resolve this matter.