- 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?pagenam
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