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Treasury Goes High-Tech With Redesigned $100 Bills

samzenpus posted more than 4 years ago | from the it's-all-about-the-new-benjamins dept.

The Almighty Buck 515

Hugh Pickens writes "AP reports that as part of an effort to stay ahead of counterfeiters, the Department of the Treasury has designed a high-tech makeover of the $100 bill with a disappearing Liberty Bell in an inkwell and a bright blue security ribbon composed of thousands of tiny lenses that magnify objects in mysterious ways. The new blue security ribbon will give a 3-D effect to the micro-images that the thousands of lenses will be magnifying. Tilt the note back and forth and you will see tiny bells on the ribbon change to 100s as they move. Tilt the note side to side and the images will move up and down."

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time for a change (0)

Anonymous Coward | more than 4 years ago | (#31937370)

Time to fire up PS 5 and get the good old printer out. I'll make me some money the old fashion way.

Re:time for a change (2, Funny)

PopeRatzo (965947) | more than 4 years ago | (#31937616)

I'll make me some money the old fashion way.

I always thought counterfeiting was the only crime that made any sense. Nobody gets hurt, there's no violence involved. You just make it and spend it.

That's probably why the G takes it so seriously. When they catch counterfeiters, they put them under the prison.

Re:time for a change (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#31937726)

Nobody gets hurt, there's no violence involved.

This is the individualistic/cowboy mentality which allows people to do crime. Some people just don't care about the long-term social effects of their actions since they will never be directly responsible for them. People who never aspire to deal with society's problems will never think about them.

Counterfeiting reduces the trust people have in the money. [One instance of counterfeiting might have no effect, but if many people have that idea, then the small effects add up.]

Same goes for excessive speeding on roads, excessive use of drugs/alcohol/tobacco, certain kinds of fraud (e.g. tax fraud, since its "only the government") and so on.

Re:time for a change (0, Troll)

slick7 (1703596) | more than 4 years ago | (#31937804)

sounds like a secret service agent fearing the downsizing monster?

Re:time for a change (5, Funny)

paiute (550198) | more than 4 years ago | (#31937670)

I'll make me some money the old fashion way.

Ways to spot the bills printed by AC in his Mom's basement:

1. One Hundred Dollars reads One Hunnert Dollars
B. The United States of America reads The Untied State of America
Third. The phrase "Haulin' Ass and Gettin' Paid" does not actually appear on legitimate US currency.

Wot? (1)

Linker3000 (626634) | more than 4 years ago | (#31937388)

No RFID tag?

Tin foil wallet at the ready!

Re:Wot? (2, Interesting)

hedwards (940851) | more than 4 years ago | (#31937400)

Eh, doesn't really matter since nobody carries hundreds. They're large enough that most places won't take them anyways. I think it's mostly tourists and people that don't actually use cash on a regular basis that carry them around.

Re:Wot? (2, Interesting)

Anonymous Coward | more than 4 years ago | (#31937484)

Eh, doesn't really matter since nobody carries hundreds.

What? I have paid with an 500 euros ($667) on an movie theater. They sure took it, but the teens besides us looked at us with a weird smile.

Just because you don't carry doesn't mean nobody does.

Re:Wot? (4, Funny)

X0563511 (793323) | more than 4 years ago | (#31937986)

That weird smile was more likely a knowing "guess who's gettin' mugged later" look.

Re:Wot? (2, Funny)

Macrat (638047) | more than 4 years ago | (#31937598)

Eh, doesn't really matter since nobody carries hundreds.

Move out of your parent's basement and get a job.

Re:Wot? (3, Funny)

PopeRatzo (965947) | more than 4 years ago | (#31937604)

Eh, doesn't really matter since nobody carries hundreds. They're large enough that most places won't take them anyways.

My drug dealer takes them. He won't take change, though.

Re:Wot? (1)

sskinnider (1069312) | more than 4 years ago | (#31937656)

I wipe my ass with anything smaller

Re:Wot? (4, Interesting)

flosofl (626809) | more than 4 years ago | (#31937678)

Eh, doesn't really matter since nobody carries hundreds. They're large enough that most places won't take them anyways.

You're joking right? While not pocket change, it's also not a terribly large amount of money either. I guess it depends on location, but in my neck of the woods it's not uncommon at all. I have never come across a place that refused a hundred dollar bill (or fifties).

Still out of date (3, Informative)

anarche (1525323) | more than 4 years ago | (#31937402)

pffft. put out a press release when you join the 20th century...

http://www.questacon.edu.au/indepth/clever/plastic_banknotes.html [questacon.edu.au]

Re:Still out of date (1)

Joce640k (829181) | more than 4 years ago | (#31937432)

Ummm....the plastic ones would never be allowed in the USA - they don't absorb cocaine properly.

Re:Still out of date (3, Funny)

L4t3r4lu5 (1216702) | more than 4 years ago | (#31937584)

Surely that means less of it will end up in the note, and more in the catwalk model's nasal cavity?

Value added!

Re:Still out of date (2, Funny)

Joce640k (829181) | more than 4 years ago | (#31938000)

The feds aren't thinking of the catwalk models when they slip bags of cocaine into the money-counting machines, they're thinking of the jury's reaction.

Re:Still out of date (1, Interesting)

batkiwi (137781) | more than 4 years ago | (#31937462)

I think the issue is that we (Australia) won't license the patent and actually print the money for all the countries that use it. Do you reckon the US would go for THAT?

Re:Still out of date (3, Informative)

MoonBuggy (611105) | more than 4 years ago | (#31937530)

From the linked article:

Blank polymer substrate is also sold to a number of countries that print bank notes using their own facilities.

Admittedly, though, I don't see the Americans being particularly enthusiastic about any part of the supply chain being out of their hands.

Personally I care less about what they're made of and more about the sizes and colours. I know dollars are tinted now, but they're still basically green, and all the same size. Not a major issue, I know, but it's just that little bit less convenient when you're thumbing through your wallet.

Re:Still out of date (3, Interesting)

Zouden (232738) | more than 4 years ago | (#31937646)

Not true - while we do produce polymer banknotes for most of the countries that use them, we've also licensed the technology to Brazil, China and Israel for their own production. There's no reason the same couldn't be done in the US, apart from the Not Invented Here issue.

Re:Still out of date (4, Insightful)

The MAZZTer (911996) | more than 4 years ago | (#31937524)

We already have plastic money. We call them credit cards.

Re:Still out of date (1)

yobjob (942868) | more than 4 years ago | (#31937872)

Yep - and we still have a banking system.

Re:Still out of date (2)

Sycraft-fu (314770) | more than 4 years ago | (#31937532)

Well that's nice. I presume CSIRO has given the US royalty free use of the patent. What's that? They haven't? Ahh well there you go then.

Please understand that for various reasons, not the least of which being the vast amount of US currency in use, the distance to Australia, and so on it would not at all work for the US to contract to Australia to print their notes.

Also understand that a radical change in the materials of the notes could lead to problems in compatibility with various automated systems that deal with them. So while the longer life of the notes is nice, it isn't the only concern.

Re:Still out of date (3, Informative)

anarche (1525323) | more than 4 years ago | (#31937628)

Also understand that a radical change in the materials of the notes could lead to problems in compatibility with various automated systems that deal with them.

I think this is probably a bit more important than otherwise noted.

I don't see why CSIRO wouldn't license polymer notes, they license wireless networking...

Re:Still out of date (4, Insightful)

mitchells00 (1181549) | more than 4 years ago | (#31937728)

The US Treasury Department is testing polymer bank notes, but there are concerns that the American public will reject a plastic Greenback.

Are they serious? Americans wouldn't like more durable plastic money because it's not American paper money? I've never lived in a world with paper money, and whenever I go overseas I always notice that paper money is flimsy and often torn, not to mention in the tropics it's sweaty. Plastic money is the way to go.

Re:Still out of date (4, Insightful)

DrXym (126579) | more than 4 years ago | (#31937950)

Are they serious? Americans wouldn't like more durable plastic money because it's not American paper money? I've never lived in a world with paper money, and whenever I go overseas I always notice that paper money is flimsy and often torn, not to mention in the tropics it's sweaty. Plastic money is the way to go.

The US "rejects" changes to its currency because it never pushes changes properly. The dollar coin being one example. How do you get people to switch from dollar bills to dollar coins? By not printing dollar bills any more and taking them out of circulation when they go through clearing. Eventually everyone switches whether they want to or not. As a further incentive you pass legislation that makes old currency non-legal tender after some reasonable point, after which people must exchange it at a central bank.

If the situation with dollars sounds pathetic, that's because it is. European countries are far more adept at switching notes than the US, so adept in fact that most of Europe switched entirely from one entire currency to another in the space of a few months. Not only does it mean currency can more readily introduce anti counterfeiting measures but can also include more features for blind & sight impaired people too such as coloured notes & size differences in coinage.

Re:Still out of date (3, Informative)

Kenshin (43036) | more than 4 years ago | (#31937734)

Canada's joining you Aussies with the plastic currency soon. Next year, I think, our money is making that transition. (Let's hope they don't make the design worse. Tories + Committees generally = Bad Design.)

Re:Still out of date (1)

yobjob (942868) | more than 4 years ago | (#31937836)

We still haven't perfected the technology. Or more to the point, perfected the technology for $5 notes. The rest are fine, the 5's fall apart all the time. Baffling.

Re:Still out of date (1)

blue l0g1c (1007517) | more than 4 years ago | (#31937934)

Interesting, but there's something unsettling about all that plastic.

If you didn't know, US dollars are made from a cotton/linen blend. Much more durable than paper and easier on the environment than plastic.

I don't get it... (1)

rodrigoandrade (713371) | more than 4 years ago | (#31937412)

If I were a counterfeiter, I'd make only $5 and $10. Sure, it'd be less cost effective, since the cost of printing a $1 or $100 is the same, but no one would suspect my bills are fake.

Re:I don't get it... (1)

UnHolier than ever (803328) | more than 4 years ago | (#31937428)

Wouldn't it be easier to make quarters? What security features are there on them?

Re:I don't get it... (3, Insightful)

nospam007 (722110) | more than 4 years ago | (#31937468)

The security feature is that they cost more to make than their face value.

Re:I don't get it... (2, Informative)

ShadowRangerRIT (1301549) | more than 4 years ago | (#31937516)

Quarters don't, but the profit margin is still fairly slim. Only nickels and pennies actually cost more to make than they are worth.

Re:I don't get it... (0)

Anonymous Coward | more than 4 years ago | (#31937544)

With the current US deficit this will soon be a security feature of the new $100 bill for all but US based criminals.

Re:I don't get it... (5, Insightful)

fuzzyfuzzyfungus (1223518) | more than 4 years ago | (#31937536)

Probably not. In quantities large enough to be worth the risk of Hard Federal Time(tm) coins are heavy and bulky. Plus, fabricating metal objects on any substantial scale is generally more of a pain in the ass, and is rather more visible, than printing paper.

My(admittedly layman's) understanding, is that hundreds, to the degree they are counterfeited at all, are mostly the domain of Real Serious Actors(North Korea always seems to be on the list of suspects). Most domestic and/or fairly small-time operators are banging out twenties or smaller; because those are much easier to disseminate without attracting suspicion(counterfeit currency is worse than useless if you can't find a good way to spend it, or sell it to someobody who can, since merely producing or knowingly possessing is illegal; but it is only valuable if spent). Even if they are 100% authentic, most places will give you a seriously suspicious look if you show up with a brick of hundreds. No bored retail drone is even going to bother with a second glance if you pay your tab in a busy, dimly-lit bar with a reasonably plausible twenty or two.

Re:I don't get it... (2, Informative)

KlaymenDK (713149) | more than 4 years ago | (#31937806)

No bored retail drone is even going to bother with a second glance if you pay your tab in a busy, dimly-lit bar with a reasonably plausible twenty or two.

A quick Google search would have shown you that it is in fact rather common for bored retail drones to panic over two dollar bills. :-p

Re:I don't get it... (0)

Anonymous Coward | more than 4 years ago | (#31938034)

Well, yeah!

Where is the slot in the cash drawer for the two-dollar bill?! Where do you put it? How do you make sure it's counted in the drawer, as a two, come the end of the shift by an equally bored retail manager at the end of your shift?

Re:I don't get it... (1)

thoughtspace (1444717) | more than 4 years ago | (#31937450)

Yeah, but criminals launder LOTs of money - transport is much harder.

Re:I don't get it... (1)

Wdi (142463) | more than 4 years ago | (#31937840)

Suitable paper and ink are hard to come by. You'd probably pay more than $5 for the materials on the black market.

Re:I don't get it... (2, Informative)

clone53421 (1310749) | more than 4 years ago | (#31938030)

They get the paper by bleaching $1s.

Pointless. (4, Insightful)

jcr (53032) | more than 4 years ago | (#31937416)

The idea behind making it hard to reproduce federal reserve notes is to keep counterfeiters from robbing us by expanding the money supply, but the Fed does exactly that on a scale that no independent counterfeiter could even imagine.

-jcr

Re:Pointless. (1)

Custard Horse (1527495) | more than 4 years ago | (#31937476)

I had no idea that there was a problem with counterfeiting of US bills that are all the same size, look the same use the same 'effluent aroma'.

Re:Pointless. (2, Insightful)

FuckingNickName (1362625) | more than 4 years ago | (#31937486)

You do realise that you are welcome to trade only with currency that you consider valid, and to only trade with those who have the same opinion as you, yes?

Re:Pointless (0)

Anonymous Coward | more than 4 years ago | (#31937970)

Apparently not.

http://en.wikipedia.org/wiki/Liberty_Dollar [wikipedia.org]

Re:Pointless. (2, Informative)

bodan (619290) | more than 4 years ago | (#31937994)

Actually, no. In many situations you are required by law to accept whatever is legal tender in the country you’re in.

Re:Pointless. (1)

FuckingNickName (1362625) | more than 4 years ago | (#31938058)

Um, no, unless you're talking about repayment of debt. Even then, it's not a problem if you only trade with those who agree with you.

I have a pen here. I'll give it to you if you give me your house. There's no way that means I have to accept the cash value of your house.

Re:Pointless. (1)

zwei2stein (782480) | more than 4 years ago | (#31938044)

No. That is illegal. You are required by law to accept goverment currency and forbidden from accepting other currency.

Re:Pointless. (0)

Anonymous Coward | more than 4 years ago | (#31937498)

We don't have to worry about counterfeits here in India. Pakistan puts a lot of efforts to print them and supply it in India.

It's not about monetary value. It's about power. (0)

Anonymous Coward | more than 4 years ago | (#31937540)

They aren't against counterfeiting because it devalues existing currency. They're against it because it dilutes the power of the artificial monopoly that they hold.

Re:Pointless. (1)

mcgrew (92797) | more than 4 years ago | (#31937910)

Well of course. Where do you think all the inflation in the '70s came from? How do you think they paid for the VietNam war? And guess what -- we have TWO wars to pay for now.

War makes the folks who run the military industrial complex richer, and the rest of us poorer.

Samples? (5, Funny)

McGiraf (196030) | more than 4 years ago | (#31937424)

Where can I get free samples of this new product?

Re:Samples? (1)

muckracer (1204794) | more than 4 years ago | (#31937550)

> Where can I get free samples of this new product?

www.federalreserve.gov

Not exactly free...printing costs do apply.

Re:Samples? (0)

Anonymous Coward | more than 4 years ago | (#31937774)

Beta testing?

"thousands of lenses" (4, Funny)

Cornwallis (1188489) | more than 4 years ago | (#31937426)

Presumably to amplify the smoke and mirrors used by the Fed to make it appear the bills are actually worth anything.

The Real Counterfitters are The Fed (4, Insightful)

pyro_peter_911 (447333) | more than 4 years ago | (#31937442)

The real counterfitters that we citizens need to be worried about is the Fed and Congress inflating the value of our money away. If you haven't had your congressman's ear recently telling them to knock it off then now is a good time to do so.

The Free Competition in Currency Act [downsizedc.org] and Federal Reserve Transparency Act [downsizedc.org] are good places to start. Talk to your congressman today and ask them to sober up.

Peter

Re:The Real Counterfitters are The Fed (0, Offtopic)

pyro_peter_911 (447333) | more than 4 years ago | (#31937572)

Troll? Really? Asking your congressmen to act responsibly with your money is a Troll?

Peter

Counterfeiting (2, Insightful)

Anonymous Coward | more than 4 years ago | (#31937444)

Funny how the process of counterfeiting -- injecting paper money into the economy with nothing of actual value to back it up -- is exactly the same as what government does to cause inflation. The result? The criminal (er, government) holds more money, at the expense of everybody else whose dollars are now worth less.

Of course, when you're at the top of the pyramid, your actions are sacred rather than criminal.

But... but... (2, Funny)

codeButcher (223668) | more than 4 years ago | (#31937454)

Are they also Green? (Or will I be inhaling toxic combustion products when I use them to light up my Cuban cigars?)

Re:But... but... (2, Funny)

Nidi62 (1525137) | more than 4 years ago | (#31937578)

That should be the least of your concerns. I'd be more worried about what all those lenses will do when you wipe your ass with the bills.

Re:But... but... (0)

Anonymous Coward | more than 4 years ago | (#31937714)

Stay out of direct sunlight

A disappearing Liberty Bell... (5, Insightful)

HopefulIntern (1759406) | more than 4 years ago | (#31937464)

...that mimics the virtue it symbolises.

Is blue harder to copy? (1, Interesting)

Anonymous Coward | more than 4 years ago | (#31937466)

I like the idea of "greenbacks" and IMHO the standout colors are distracting and "busy".

Question: Is there something about the color blue that makes the security ribbon harder to counterfeit than if it were, for example, silver or green?

I can already see them working at it (1)

h00manist (800926) | more than 4 years ago | (#31937472)

I can already envision all kinds of geeks staring at it with a microscope, dropping odd fluids on it, etc, in labs across the world. Really, I don't understand how paper money still exists.

Re:I can already see them working at it (4, Insightful)

characterZer0 (138196) | more than 4 years ago | (#31937684)

Really, I don't understand how paper money still exists.

So you do not have to have your own credit card swiping machine and an account with a processor to sell something on craigslist.

Re:I can already see them working at it (1)

castironpigeon (1056188) | more than 4 years ago | (#31937708)

Really, I don't understand how paper money still exists.

Next time you're at the grocery store waiting in a line that takes longer to get through than the drive home, look at the front of the line and you'll either see somebody writing a check or counting out bills and coins.

Re:I can already see them working at it (1)

mcgrew (92797) | more than 4 years ago | (#31937760)

Really, I don't understand how paper money still exists.

Since I'm a cheapass, I don't use credit cards because of fees and interest. Because I had a debit card stolen and used by someone who watched me punch the PIN number in and drained my checking account, I don't use those, either. I write a check every few days, at the bank.

Nobody can track what I buy or where I buy it. Paper money is the only way to be anonymous; I bought my Boost Mobile phone with cash and pay the $50 monthly fee with cash, nobody has any way of telling who owns it short of tapping it.

Ever try to buy pot without cash? Ever try to hire a hooker without cash? You can't even get a cab or bus ride without cash.

Re:I can already see them working at it (1)

sartin (238198) | more than 4 years ago | (#31937938)

Get a no fee credit card and pay it off every month.

You can't even get a cab or bus ride without cash.

You can here (Austin, TX). Credit card to get a transit pass - at varying levels of convenience and planning ahead since they can't use a CC at bus stops or on busses. Credit card in the cab. Last time I was in Chicago I paid for my CTA pass with credit at the station at O'Hare. Never rode a cab, so not sure about them, but even NYC cabs take credit cards now.

All US bills still same size, color (5, Insightful)

stomv (80392) | more than 4 years ago | (#31937480)

There's really no excuse for this. The bills should have different color and size to help the visually impaired. There's no good reason not to. Sure, don't change the $1 due to bill readers. I suppose there are $5/$10/$20 readers, though usually at the post office (and hence easy to change from the government's perspective). But really -- why not mix up the $50 and $100 so that they're easier for those with disabilities to use. It'd at least be a step in the right direction.

Re:All US bills still same size, color (1)

superswede (729509) | more than 4 years ago | (#31937554)

I 2nd this one!

Re:All US bills still same size, color (0)

Anonymous Coward | more than 4 years ago | (#31937636)

If you look at the actual pictures you will see there is a giant color-blind friendly visually-impaired friendly notice of the denomination on the back of the bills now to help people distinguish. The Giant "100" is in orange.

Re:All US bills still same size, color (1)

AdmiralXyz (1378985) | more than 4 years ago | (#31937640)

I believe there was a court ruling that says the Treasury has to do this at some point in the future. To the best of my knowledge, they're still investigating possible options, although if you look at the list of security features for the new bill, one of them is "raised perforations". Perhaps these are an identifier, like Braille?

Re:All US bills still same size, color (2, Insightful)

hraefn (627340) | more than 4 years ago | (#31937814)

I sympathize with your argument, I really do. Different sized bills would also make counterfeiting more difficult.

However you forget that every bank branch in the country has at least one money counter; how many are there? As an example, Bank of America lists upwards of 6000 branches.

There are something like 400,000 ATMs in the United States as well, how many of those would need modified?

Re:All US bills still same size, color (3, Interesting)

Xest (935314) | more than 4 years ago | (#31937916)

Many other countries have different sized notes, so I wonder if it would really even be hard or relatively expensive to modify them? The technology is already out there and I'd imagine companies that produce US money counting machines probably also produce money counting machines internationally such that the work could probably be done with existing suppliers.

That's not to say it wouldn't cost more than your average Joe will earn in their entire life time of course, but I doubt the cost would be prohibitively expensive. It comes down the modifications required I suppose- it may be that the machines were built in such a way that there isn't room in the design for modification and they'd have to be completely replaced I guess and certainly at that point it could become an issue!

Re:All US bills still same size, color (1)

PatPending (953482) | more than 4 years ago | (#31937914)

I suppose there are $5/$10/$20 readers, though usually at the post office (and hence easy to change from the government's perspective).

You're omitting one of the largest markets for omni-bill readers: casinos. These readers will accept $1 through $100. (I dunno about $1000)

those who deal with lots of cash know (1)

asoduk (1348187) | more than 4 years ago | (#31937496)

that the $100 bills stay in circulation much longer than smaller bills. they are exchanged much less frequently. I recently sold something fairly expensive and was paid in cash. the $100 bills in the wad were from 3 different generations of the bill! i suspect that in under the radar circles like gun shows and flea markets, the bills tend to be older.

Re:those who deal with lots of cash know (1)

Montezumaa (1674080) | more than 4 years ago | (#31937958)

What is "under the radar" about gun shows or flea markets? These are two perfectly legal and responsible advertising and business models. Also, as money changes hands a lot in those two groups, the bills will probably be newer. Chances are that the older bills will come from the elders in our society, as they tend to be more responsible by saving money and not needlessly blowing it. This is not an absolute statement, as there are some people in this group that are not responsible or just do not have a lot of income that would allow them to really save.

While I do not buy into "government conspiracies", I do have to wonder what might be in these bills that we will not know about. There may be nothing hidden in this new bill, but we might see something in later iterations. Still, this new bill sounds cool.

PopeRatzo: Counterfeiting hurts everyone and it has the ability to hurt everyone in an extreme way. Sure, some small-time counterfeiter will make a negligible difference, over time, it will make a difference. Counterfeiting has the ability to completely crash an economy and bring about great ruin to that economic system. Would you like to living in Germany, post World War I, when bread would cost you billions of Deutsche Marks(http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic for just an idea of the problems of over-printed currency).

You also need to remember that Germany, during World War II, was printing various foreign currencies(U.S. Dollar and British Pound) in an attempt to destabilize each currency. While Germany did not have a chance to carry the plan out(due to timing), that plan could have really ruined the economy globally.

Oh yeah, we'll all be carrying bundles of these (0)

Anonymous Coward | more than 4 years ago | (#31937504)

Given the state of the American economy it's unlikely many people will be seeing any of these anytime soon (until the inflation kicks in, anyway).

Perhaps, like a new jet, it's just another gift from the Treasury to let bankers show off: "Hey, look what I bought with all that money you gave me! More money!"

Why not retire the old bills? (1)

jonwil (467024) | more than 4 years ago | (#31937534)

When Australia switched to the new plastic money, we changed over from old $100 to new $100 (for example) in a short space of time.

Although I guess the total number of AU$100 bills in circulation worldwide is a LOT less than the total number of US$100 bills :)

Replace all the bills with coins. (0)

wiredog (43288) | more than 4 years ago | (#31937538)

Long term it'll save lost of money.

Re:Replace all the bills with coins. (1)

dkleinsc (563838) | more than 4 years ago | (#31937744)

Is that a roll of $5 coins in your pocket, or are you just happy to see me?

Re:Replace all the bills with coins. (0)

Anonymous Coward | more than 4 years ago | (#31937824)

Which you can spend on typing classes !

Re:Replace all the bills with coins. (0)

Anonymous Coward | more than 4 years ago | (#31937926)

A $100 gold coin would weigh 2.8 grams at $1100/oz. In comparison, a dime weighs 2.268 grams. Although the weight is similar, the density of gold is over twice that of silver, so a pure coin would be even smaller than a dime. Puts the true value of US currency in perspective doesn't it?

Re:Replace all the bills with coins. (2, Funny)

Tsaot (859424) | more than 4 years ago | (#31937928)

Long term it'll save lost of money.

Yeah, that's what happens to all my coinage too.

RFID? (0)

arkham6 (24514) | more than 4 years ago | (#31937592)

I wonder if the bills will have encoded RFID chips somewhere, somewhat like they do with passports? Being that a lot of 100 bills circulate outside the US, this would be a good way to track them, and see how money passes from person to person. Antiterrorism effect perhaps?

Forget centralized closed source money. (1)

h00manist (800926) | more than 4 years ago | (#31937610)

Lets have open-source software money [letslinkuk.net] . Everyone neighborhood or town run their own bank. Most of our work goes to just pay bills because of all this financial waste.

Local Exchange Trading Systems (LETS) [wikipedia.org] also known as LETSystems are local, non-profit exchange networks in which goods and services can be traded without the need for printed currency. In some places, e.g. Toronto, the scheme has been called the Local Employment and Trading System.

Update patch? (2)

T Murphy (1054674) | more than 4 years ago | (#31937626)

Anyone know if they've released an update patch yet? I wish they would've warned me before my $100 went obsolete.

(My school subsidizes the Fundamentals of Engineering exam, which was last weekend, otherwise no I wouldn't have a $100 on me).

Plastic money... (2, Interesting)

nanoakron (234907) | more than 4 years ago | (#31937658)

UK resident here. I personally love it when new technology is introduced into banknotes, but those plastic ones the Australians have had for ages are just plain cool.

The Indonesian plastic Rp100,000 note is also pretty damned cool.

Wish we had 'em.

Oh man, the North Koreans are going to be pissed! (1, Funny)

Anonymous Coward | more than 4 years ago | (#31937668)

Oh man, the North Koreans are going to be pissed!

Numb3rs (1)

auric_dude (610172) | more than 4 years ago | (#31937692)

Charlie Eppes has it covered, see Season 1 Episode 7 of 13 Counterfeit Reality

People still use cash? (0)

tylersoze (789256) | more than 4 years ago | (#31937694)

I mean besides drug lords in movies with suitcases full of hundreds? Wow you learn something new every day. The only thing I use cash for is dollar bills for the vending machine, and sometimes not even then, the one at the last hospital I was at had a card reader.

Re:People still use cash? (0)

Anonymous Coward | more than 4 years ago | (#31937882)

I always tend to carry a few $100 bills for emergencies. Like needing to take a cab anywhere on short notice, or being able to bribe someone in a hurry.

"We have a bank robbery at 50 Main St... (0)

Anonymous Coward | more than 4 years ago | (#31937750)

... suspect was wearing 3D movie googles..."

Don't counterfeiters prefer euro notes? (1)

petes_PoV (912422) | more than 4 years ago | (#31937858)

Given that the world's highest denomination banknote is for €500 the same amount of effort that goes into forging an old $100 piece of paper gives higher returns with higher value notes. All this new tech in ther 100USD will do is make the baddies concentrate more on easier notes, it won't actuallt stop counterfeiting.

Re:Don't counterfeiters prefer euro notes? (1)

chriswik (1373325) | more than 4 years ago | (#31937996)

Given that the world's highest denomination banknote is for €500

Don't know where you got your information.. Here in Switzerland we have a 1000 Frank note, which is about €700 at todays exchange rate.

What's The Point? (4, Insightful)

suss (158993) | more than 4 years ago | (#31937870)

All older bills are valid until they wear out. In other words; this is a pointless exercise unless they set an expiry date for older bills.

This is aimed at non-US countries (4, Interesting)

vinn01 (178295) | more than 4 years ago | (#31937892)

Most US $100 notes are circulated outside of the US. I don't know the percentage, but it's very high. Aside from legal users, there is a lot of people with large caches of $100 notes that our government doesn't like.

In non-US countries the the phrase "legal tender for all debts public and private" carries no weight. They can be picky about what notes they accept. Every time that new US notes are issued, people with large hoards of US cash find that their old notes are no longer accepted and they have to scramble to get new notes. They get noticed.

Need to eliminate the Dollar note, and Cent coins. (1)

Darth Sdlavrot (1614139) | more than 4 years ago | (#31937906)

A dollar today has the buying power of 6 in 1940. But don't take my word for it, here's one of many inflation calculators http://www.coinnews.net/tools/cpi-inflation-calculator/ [coinnews.net]

Can you imagine your grandparents carrying a wallet stuffed with 5 notes? Or a pocket full of .06 coins?

Time to get rid of them. Time to stop wasting 100s of millions of dollars every year printing and minting them.

Re:Need to eliminate the Dollar note, and Cent coi (2, Interesting)

Darth Sdlavrot (1614139) | more than 4 years ago | (#31937922)

Damn slashdot swallowed my cent characters. Hey slashdot, it's 2010, can't we join the 21st century and allow ISO8859-1 characters?

A dollar today has the buying power of 6 cents in 1940. But don't take my word for it, here's one of many inflation calculators http://www.coinnews.net/tools/cpi-inflation-calculator/ [coinnews.net] [coinnews.net]

Can you imagine your grandparents carrying a wallet stuffed with 5 cent notes? Or a pocket full of .06 coins?

Time to get rid of them. Time to stop wasting 100s of millions of dollars every year printing and minting them.

Explain the security features to the counerfeiters (0)

Anonymous Coward | more than 4 years ago | (#31938052)

The government has prepared education resources in 25 languages to inform the public about the design changes and is giving people a chance to view the new bills on its website.

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