New $100 bills

New $100 Bills to Be Released On Time Despite Printing Mistake

“A small fraction” of the next-generation $100 bills scheduled for release in the fall will be destroyed after they did not pass an inspection by the Federal Reserve.

“We shipped three million hundred-dollar notes to the Federal Reserve,” Darlene Anderson, a spokeswoman for the U.S. Bureau of Engraving and Printing, told ABC News. “During an inspection they noticed a defect in a marginal number of notes.”

According to Anderson,  ”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.”

Anderson did not say how many bills were printed incorrectly or how much the mistake would cost.

“The few that were found to be defective, we will destroy here, “Anderson explained. “When we go back to reinspect all the notes, we will charge the Federal Reserve for that process.”

Anderson would not say how much the Federal Reserve would be billed.

Despite the defective notes, the new $100 bills will be released on time for circulation.

“The next generation $100 bill will debut on October 8 as planned,” Anderson confirmed.

The new $100 bill will incorporate the color blue and feature a 3-D security ribbon that will be harder for counterfeiters to duplicate, according to a statement released by the Federal Reserve.

The design was unveiled in 2010, but delays in production pushed the debut of the new bills to October 2013, the statement said.

source: http://abcnews.go.com/blogs/business/2013/08/new-100-bills-to-be-released-on-time-despite-printing-mistake/