Fergie's Tech Blog

The New Sawbuck: Not So Funny Money

The newly redesigned $10 bill has color-shifting
ink, watermarks, security threads and subtle
color gradations to help deter counterfeiting.
Image source: Forbes / The Bureau of Engraving and Printing.

Four months ago, Thomas Ferguson gave each of 30 invited guests a stack of 1000 $10 bills to take with them at the end of a very exclusive reception.

Sounds like a fun party, right? Well, not exactly. Ferguson, the director of the U.S. Bureau of Engraving and Printing, was hosting members of the cash machine industry to give them a head start in preparing for the rollout of the newly redesigned $10 bill. Alas, they have to give the cash back.

The notes won't be distributed to the public until early 2006, but the manufacturers need all the time they can get to update every one of the millions of vending machines, self-checkout kiosks, ATMs and other machines that accept bills in the U.S. Ferguson and private industry want to avoid a repeat of the $20 bill debacle. In 2003, when the new $20 was issued, the industry "was all caught off guard," says John Parsons, marketing program manager for Fujitsu's bill acceptor machines.

posted by Fergie @ 10/18/2005 12:29:00 PM