On Monday, March 25, 1996, the U.S. Treasury Department began circulating a newly redesigned $100 bill. Here are 5 interesting facts you probably didn’t know about the redesigned $100 bill...
The $100 Bill Last Longer Than Other Denominations No other American paper currency has as long a lifespan as the $100 bill, which stays in circulation for about 15 years. Smaller denomination bills wear out much more quickly. For example, $50 bills wear out after about 3.7 years, while the $10 bill wears out in about 4.2 years. Since the $100 bill isn’t handled as much, it simply lasts longer than more widely circulated paper currency. However, any bill in good shape, whatever its age, is still legal tender.
The Same Company Has Produced the Paper for Generations A Massachusetts company, Crane & Co., has made the paper for all American money since 1879. The company started out in 1770 as the Liberty Paper Mill. It even produced the paper used by Paul Revere to print the paper money used by the first American colonists. The company not only makes paper for money, but also produces the paper used for passports and other official documents as well as making premium quality stationery.
The First of the 2013 Bills Printed is Worth Thousands The $100 bill that carries serial No. 1 and was released on October 8, 2013, is special. This is because the eight-digit serial numbers were reset. This particular bill would be worth between $10,000 and $20,000 to collectors. Other interesting serial number patterns can increase the value of bills well beyond their face value.
No One Really Knows Why One Change Was Made to the $100 Bill Older $100 bills show a picture of Independence Hall in Philadelphia, and the time on the clock shows 4:10. Newer bills have Independence Hall featured on the back as well, but the time is 10:30. Both images were done in the 1920s by engraver J.C. Benzing, and no one seems to know why the times are different.
It costs 12.5 cents to produce a $100 bill
It costs 12.5 cents to produce a $100 bill. Production of $100 bills is still much higher than it was before 2003 when they cost a nickel to produce. The increase in price is because of the changes made to foil counterfeiters. A vertical blue stripe now appears next to Benjamin Franklin's head. A gold inkwell was also added, and it carries an imprint of the Liberty Bell. Additionally, the Liberty Bell appears to move if one looks at it in different ways.