Monday, October 7, 2013

The US$ 100 bill is reinvented to thwart counterfeiters.

WorldWide Tech & Science. Francisco De Jesùs. 

The US$ 100 bill is reinvented to thwart counterfeiters.

The US$ 100 bill, one of the largest circulation worldwide and object of desire among counterfeiters, is reinvented from next Tuesday, October 8, with new security badges that accompany the iconic portrait of Benjamin Franklin.

The US $ 100 bill , one of the largest circulation worldwide and object of desire among counterfeiters , is reinvented from next Tuesday, October 8 , with new security badges that accompany the iconic portrait of Benjamin Franklin .

" Part of our job is to make more difficult the work of counterfeiters ," he said in an interview with Efe Michael Lambert , associate director Federal Reserve (Fed ), of the U.S. central bank .

Starting Tuesday, the Fed will use in its operations with other financial institutions only new $ 100 bills , which gradually reach banks, international markets and citizens in the U.S. and other countries.

Initial production is estimated 3,400 million new banknotes , according to Lambert .

The two new bill security badges provide a simple way to check whether it is authentic or false.

Lambert explained that the former is a blue tape " woven " unprinted at the front of the bill with three-dimensional images " extremely small " of bells with movement  are converted into 100 numbers .

The second is a bell inside an inkwell changes color from copper to green.

The effect produced by this change causes the bell to appear and disappear , " and in any normal transaction can appreciate," said Lambert .

"Security has to do with complexity " , especially if you consider that counterfeiters have quick access to new technologies , rather than that the bill has many distinctive , something that users "do not want " , according Lambert .

In the new banknotes will remain other security badges that are already present in the current image as "hidden" Franklin that is to the right of the main picture , a thread that glows with ultraviolet light pink and the number 100 on one edge which changes to green copper .

Also the paper that banknotes are made of 100 is " quite unique " in the words of Lambert , composed of 25% linen and 75% cotton , fiber and red and blue security .

Thanks to this role , only with touch "can detect if a bill is counterfeit or not ," said associate director of the Fed

The Fed wants , above all, make it clear to consumers and businesses with the previous bills will continue to design completely legal and will not be devalued .

At present there are approximately 8,900 million $ 100 bills in circulation, with a total value of 890.000 billion. Between half and two thirds is moved outside the United States .

Thebills with the old design , dating from the remodeling done in 1996 , gradually return to the banking system in a process that " last year " , according to Lambert , and from there, to the Federal Reserve, which after verified its authenticity , will be destroyed .

Following the redesign of the $ 100 in 1996 , which was the first significant in 67 years , were also amended on the 50, 20, 10 and 5 dollars to make them less vulnerable to counterfeiting.

A committee with members from various agencies is responsible for making recommendations for changes in the design of banknotes Treasury Secretary , who has the final authority to decide.

The first $ 100 note issued by the Federal Reserve was born in 1914 and already contained the portrait of President Franklin , one of the founding fathers of the USA.

The highest denomination printed paper in the history of the Fed was , in 1934 , the " Gold Certificate " with a value of $ 100,000 and are only used for official transactions within the central bank .

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