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Date Posted: 11:27:26 06/21/02 Fri
Author: gmike
Subject: US strikes colourful note with new greenback

US strikes colourful note with new greenback
By Jenny Wiggins in New York
Published: June 21 2002 0:25 | Last Updated: June 21 2002 0:25

The end of the greenback could be nigh. The US government on Thursday announced plans to introduce other colours on dollar bills to help tourists tell the different notes apart.

"International visitors complain 'We can't tell your denominations apart,'" said the Bureau of Engraving and Printing which will release new versions of the $20, $50 and $100 bills next year.

US notes are all the same colour and size, which makes them hard to distinguish quickly - a boon for swindlers.

The size will not be changed, but the Treasury believes introducing "subtle background colours" will ease the problem and make counterfeiting more difficult.

It will be the first time since 1862, when the first $1 and $2 notes were issued, that another colour has been used.

Green was originally selected because large amounts of green ink were available and because the colour was identified with "the strong and stable credit" of the government, said the bureau.

It is unlikely the US government will emulate the Australians' bright orange $20 notes or the red and purple of the old Dutch 250 Guilder note. The bureau is "not ready" to decide on a colour, "but each denomination will be different."

Colour will also help features that will make the notes harder to fake. The Treasury and Federal Reserve now changes the design of the currency every seven to 10 years to try to deter counterfeiters.

Some $47.5m of counterfeit money entered circulation in the 2001 fiscal year.

The notes will carry portraits and historical images like their predecessors. The $5 and $10 notes may be redesigned in future but $1 notes will for now remain green.

http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1024578118127&p=1012571727162

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Hey I already think it looks like monopoly money! -- Cari, 10:49:52 06/22/02 Sat