New 100 Dollar Bill Print Error
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Parents Politics Pollster Queer Voices Religion Science Small Business So That Happened Sports Style Taste Tech Teen TestKitchen Travel TV Weddings Weird News Women WorldPost FEATURED GPS for the Soul Hawaii Inspiration Generation OWN Dr. Phil Quiet Revolution Talk to Me When To Jump Better Together Don't Stress the Mess Endeavor Generation Now Paving the Way The Power Of Humanity Sleep + Wellness What's Working: Purpose + Profit What's Working: Small Businesses how much is my 100 bill worth BUSINESS $100 Bills To Be Destroyed After Printing Mistake At Factory 08/16/2013 06:08 pm ET | Updated Aug 20, 2013 1.3k Meredith Bennett-Smith Unfortunately your browser does not support IFrames. Breaking News | Celebrity News | More ABC News Videos A small printing error is presumably proving very costly for the U.S. government after a currency factory ruined a batch of 30 million next-generation $100 bills. Originally slated to go into circulation in 2011, the new bills have experienced a variety of setbacks, the latest of which involves a printing mistake known as "mashing." Darlene Anderson, a spokeswoman for the Bureau of Engraving and Printing (BEP), told The New Yorker that mashing involves applying too much ink to the paper and happens "infrequently." Still, the error has forced the Federal Reserve to return tens of millions of notes back to the Washington, D.C., facility and demand its money back, according to the report. The returned notes will be re-inspected, and any flawed bills will be destroyed. The mistake was discovered during a routine inspection, Anderson told ABC News. Inspectors noticed ”too much ink was used to print a small number of notes. As a result the ink in these notes didn’t stay in the area it was intended for.” Despite the snafu, the new $100 bi
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Main| Politics Lead| National Lead| World Lead| Money Lead| Sports Lead| Pop Lead| Buried http://thelead.blogs.cnn.com/2013/08/26/30-million-100-bills-deemed-unusuable/ Lead| Click to watch video August 26th, 2013 06:38 PM ET Share this on: Facebook Twitter Digg del.icio.us reddit MySpace StumbleUpon Printing error botches new $100 bills, could cost taxpayers $4 million The Bureau of Engraving and Printing is reinspecting 30 million brand new $100 bills after the Federal Reserve deemed them unusable because of a printing error. After a decade of research and development, dollar bill the so-called money factory designed a new Benjamin that should have been released hands in 2011. "It's certainly one of the most valuable bills to counterfeit," said Benjamin Mazzotta, a currency expert at Tufts University. The mint was supposed to print a new design back in 2011. But they keep botching the bill. The first batch ended up with a blank spot, and the second round 100 dollar bill was lifted by thieves on their way to the Federal Reserve, and now there is a problem with excess ink. "Ironically it appears to be any of those advanced features themselves which are causing the problem. It's the way the paper they are using for this generation of printing is responding to the weight of the printing press," said Mazzotta. The error could cost taxpayers about $4 million because the current bill costs 7.8 cents to produce, compared to 12.6 cents for the new one. New security features include a blue ribbon that is woven into the middle of the bill with alternating 100s, liberty bells that move when the bill is tilted, and an image of a copper inkwell that contains a liberty bell inside it that turns green when the bill is moved. "If you're in the business of counterfeiting, every year that they don't release this, is a year that you can pass your old-fashioned $100 bills that much easier," said Mazzotta. The government says crisp new bills should be ready to change hands by October 8, then the arms race against counterfeiters begins again. A spokeswoman for the Bureau