By Aubrey Oman
The United States is adding a little color to its money.
New $20 bills were introduced Tuesday, May 13, by the Federal Reserve and the Treasury Department. The bills have been altered with new security features and blue, green and peach tints to prevent counterfeiting.
'U.S. currency is a worldwide symbol of security and integrity,' reported John W. Snow, U.S. Treasury Secretary, in a news release. 'This new design will help us keep it that way, by protecting against counterfeiting and making it easier for people to confirm the authenticity of their hard-earned money.'
The new $20 bill design will go into affect in the fall. The $50 and $100 bills are undergoing similar changes and will begin circulation in 2004 and 2005, respectively. Different colors will be used on the $20, $50 and $100 bills to keep them distinguished.
'This is ''The New Color of Money''; it is safer because it is harder to fake and easier to check, smarter to stay ahead of tech-savvy counterfeiters, and more secure than ever,' stated Tom Ferguson, director of the Bureau of Engraving and Printing, in a news release. 'The security features are easier than ever to use, and we want the public to learn how to use them, to protect their hard-earned money.'
The new $20 bill will essentially look the same in general design and size.
The redesign features a green eagle and shield to the right of Andrew Jackson''s enhanced portrait and a blue eagle in the background.
Small yellow twenties are printed on the back.
Security features, first introduced in the 1990s, will remain the same.
The watermark is a faint image of the central portrait. Since it is a part of the paper, it can be seen from both sides.
The security thread is visible when the bill is held up to the light.
The vertical strip running along one side of the bill is recognizable by the words 'USA TWENTY' and a small flag.
The color-shifting ink is in the number 20 in the front, bottom right corner. When tilted, the number changes from copper to green.
'The soundness of a nation''s currency is essential to the soundness of its economy,' reported Alan Greenspan, chairman of the Federal Reserve Board of Governors, in a news release. 'And to uphold our currency''s soundness, it must be recognized and honored as legal tender, and counterfeiting must be effectively thwarted.'
Redesigns for the $5 and $10 bills are still being decided.
The $1 and $2 bills aren''t being considered for redesign because they are unlikely to be counterfeited, according to the Federal Reserve. Standard green and black bills will still be accepted.
The Federal Reserve and the Treasury of Department plan to introduce new paper currency designs every 7-10 years.
For more information on the new bills, visit www.moneyfactory.com/newmoney.