New $5 Bill to Enter Circulation
The U.S. government announced today that it will begin issuing newly designed $5 bills into circulation beginning March 13, 2008. The new $5 bill, which has been redesigned to help foil counterfeiters, includes two new watermarks and an enhanced security thread that will help businesses and consumers validate the new bills.
Today’s announcement signals to banks and businesses that they should make final preparations for the new bills. For some businesses, preparations include training cash-handling employees on how to use the notes’ security features, for others it entails making technical adjustments to machines that accept, dispense or count cash.
More U.S. currency circulates in the world than any other currency. In fact, about $770 billion circulates worldwide. That is why the U.S. government is working closely with banks and businesses to ensure a smooth transition for the redesigned bills. Learn more about the newly designed $5 bill.
Check It Before You Accept it!
Recent research suggests that people who handle cash on a regular basis often use the security thread and watermark to verify that a bill is real. To help cash handlers and consumers alike, the new $5 bill includes enhanced versions of both of these features to make it easier to identify and to distinguish it from other denominations. Read the full story on checking the $5 bill before you accept it.
Hanging in the Break Room
Employees aren’t the only ones hanging out in break rooms these days. The U.S. government has designed an educational piece (PDF) that outlines the latest design changes to the new $5 bill and is a great tool to help educate your employees. The piece unfolds into an easy-to-hang poster identifying the key design and security features to look for on the new $5 bill. It is available free of charge in both English and Spanish. It is also available in downloadable format in 20 other languages. To download or order your copy, visit our online order form.
Five Fun Facts
Number of $5 Bills
Approximately 9 percent of all paper currency produced by the U.S. Treasury's Bureau of Engraving and Printing today are $5 bills.
Billions of Bills
Reserve Banks process about $2.2 billion in $5 bills annually with $1.5 billion in $5 bills remaining in circulation at any point in time.
Lifespan
The "average life" of a $5 bill is 16 months in circulation before it is replaced due to wear and tear.
Who's on the $5 bill?
The U.S. $5 bill features U.S. President Abraham Lincoln's portrait on the front side and a vignette of the Lincoln Memorial on the back. Previous versions of the $5 bill featured Alexander Hamilton (1862), Andrew Jackson (1869) and Ulysses S. Grant (1886).
President Abraham Lincoln and the Secret Service
During Lincoln's presidency more than one-third of U.S. currency was counterfeit. With the advice of the Treasurer at the time, the President established a commission to address this widespread problem. That commission came to be known as the United States Secret Service. Originally responsible for safeguarding the integrity of United States currency, the agency is today part of the Department of Homeland Security.
