Wrinkles delay new $100 bills
Printers, especially those doing high-volume jobs requiring special paper and techniques, sometimes encounter challenges that delay production. We’re in the printing business. We understand that.
But two-and-one-half years to get creases out of the finished paper production? Good heavens. Most customers would find someone else to do their printing rather than accept such a delay. One set of customers – Uncle Sam’s – can’t do that.
New types of currency with all sorts of sophisticated features to guard against counterfeiting have been in circulation for a few years. But $100 bills are not among them.
Originally, the new C-note was to debut in February 2011. In December 2010, the Federal Reserve revealed there would be a delay. According to The Associated Press, officials “said they needed more time to fix production issues that left unwanted creases in many of the notes.” Yes, creases.
Now the Federal Reserve says the new bills will go into circulation this October. Ben Franklin, whose portrait adorns the $100 bill, was a printer, too. Somehow, we doubt he was thinking of a fiasco like this one when he commented, “Time is money.”