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The issuance of series-1996 $100 Federal Reserve notes: goals, strategy, and likely results

Author

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  • Theodore E. Allison
  • Rosanna S. Pianalto

Abstract

In March 1996, the Federal Reserve began issuing series-1996 $100 Federal Reserve notes. Culminating a cooperative effort by the U.S. Department of the Treasury and the Federal Reserve System that dated from the 1980s, the series-1996 note was the first major design change in U.S. currency in sixty-six years. The new note was developed to provide better protection for users of U.S. currency against the growing threat of counterfeiting, especially that posed by increasingly affordable and capable color scanning and printing systems. This article discusses the Federal Reserve's strategy for issuing newly designed $100 notes and says that it appears likely to achieve its objectives: a replacement of pre-series-1996 $100 notes that is timely in relation to the developing threat of counterfeiting, with a minimum impact on holders and users of those notes throughout the world.

Suggested Citation

  • Theodore E. Allison & Rosanna S. Pianalto, 1997. "The issuance of series-1996 $100 Federal Reserve notes: goals, strategy, and likely results," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 83(Jul), pages 557-564, July.
    • Handle: RePEc:fip:fedgrb:y:1997:i:jul:p:557-564:n:v.83no.7
    DOI: 10.17016/bulletin.1997.83-7-2
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    File URL: http://www.federalreserve.gov/pubs/bulletin/1997/19970702.pdf
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    Cited by:

    1. Judson, Ruth, 2017. "The Death of Cash? Not So Fast: Demand for U.S. Currency at Home and Abroad, 1990-2016," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162910, Deutsche Bundesbank.

    More about this item

    Keywords

    Money;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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