U.S. Treasury to Unveil New $5 Bill Design Digitally

By Susan J. Campbell

TMCnet Contributing Editor

 

The U.S. Treasury’s Bureau of Engraving and Printing is taking a novel approach in unveiling the new $5 bill. For the first time, a redesigned denomination of U.S. currency will be digitally unveiled when the bill is revealed on September 20, 2007.

The government is relying on digital communications channel for the “Wi-5” unveiling event to serve two purposes: echoing its focus on staying ahead of counterfeiters by using the latest advances in technology to enhance the bill’s security; and to raise awareness about the new $5 bill.

“A digital unveiling for the redesigned $5 bill provides a new opportunity to engage people in the public education process," said Dawn Haley, Chief of the Office of External Relations at the Treasury's Bureau of Engraving and Printing, in a statement.



"We hope that the ‘Wi-5' theme will get consumers excited about the new bill and encourage them to use the resources on our Web site to learn about its security features and protect their hard-earned money."

The government provides public education and training materials to inform the public about the latest currency designs. These materials are available for order or download at www.moneyfacotry.gov/newmoney. The site has received over 222 million hits since its launch in May 2003 and has recorded roughly 280,000 unique visitors each month.

The Web site will be hosting the “Wi-5” event on September 20, when government officials from the U.S. Treasury, Federal Reserve Board, Bureau of Engraving and Printing and U.S. Secret Service reveal the new bill design for the fist time, as well as discuss continuing efforts to stay ahead of counterfeiting.

The new bill’s digital debut will also feature an online Q&A for reporters and podcasts. During the days following the $5 bill’s unveiling, streaming video of man-on-the-street interviews will be posted on the site, showcasing consumers identifying the new $5 bill’s updated security features.

"The United States government will continue to enhance the security of our Nation's currency," said Rose Pianalto, Assistant to the Board of Governors of the Federal Reserve, in a statement.

"From Bangkok to Boston, we want those who rely on our paper money around the globe – whether they are central banks, businesses or consumers – to have the information they need to verify the money they receive is genuine and to ensure a smooth introduction of new designs into commerce."

The U.S. government has been able to keep counterfeiting at low levels through a combination of improvements in security features, aggressive law enforcements and education efforts to inform the public about how to check their paper money.

The next denomination to be redesigned after the $5 bill is issued in 2008 will be the $100 bill. The government currently has no plans to redesign the $1 and $2 bills.

This innovative approach to launching a new paper money design is a great way for the Treasury to gain buy-in from the public before they even have the bill in their hands to use on the street.

 

While the public in certainly in favor of efforts to stay ahead of counterfeiting, many of us would admit that when the Treasury first introduced colored ink, other than green, on the $20 and $50 bills, it appeared to resemble play money.

Unless an individual works in banking or retail, they generally don’t receive the intro training to new bill designs. This new approach is likely to change that and could even improve perception in the eyes of the American consumer.

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