After three long years of delay…the new $100 bill is finally going to arrive this Fall . All the printing issues have finally been resolved and the new bill is really quite attractive. Is your business ready for this ? Are your cash counting machines going to accept the new $100 bills ? At our Bill Counter page we can help you prepare for the arrival of the new money. You will need to know what to look for as far as counterfeit detection on the new bills. You will need to make sure all your currency counting machines will not reject the new 100. You might have automatic bill acceptors on vending machines that need to be upgraded to accept the bills. Be prepared. Visit the US Treasury web site and get the information you need to start training your cashier’s on the new bills as soon as possible.
Do not worry if you have the old bills and think they will become obsolete. They will not. The older 100 dollar bills will be around for about another 20 years. The bills will be retired over time and shredded by the Federal Reserve Bank. If anything, they will be more valuable some day due to the scarcity of finding them. United States currency is never obsolete and will be honored forever. I am sure that the old 100 dollar bills will be collector items someday.
Notify your bank that you want to get new 100 bill samples as soon as they are available. Make sure all your cashiers see and handle the new money and are familiar with it before they start accepting it. Do not rely on counterfeit marker pens to detect fakes. These pens are easily fooled by certain chemicals that the counterfeiter’s spray on the bills, even hairspray will defeat the pens. The best bet is an automatic detector. If you do accept a fake bill then you will be stuck with it. To try to deposit a fake bill or pass it along is a crime. Your bank will turn any fake bills over to the authorities.
Some rumors about the new bills have begun to circulate. One of the better rumors is that there is allot of gold coloring in the new bills and this is to make people feel it is more valuable because many people feel that US currency is losing it’s value. Others say the gold coloring is done to appeal to the Chinese who hold so much of our money overseas.
So the bottom line is that you need to prepare for the new money. The new money will show up in the casinos first, then they will begin general circulation. Many people will oppose the new money and resist accepting it. Older bills will be retired as they are deposited. The FED had to re-design these bills to make them more secure and harder to counterfeit. They have several new security features that will be hard to replicate. Know what these features are and what to look for. Educate yourself and your employees.