By Julie Taboh – American dollars are a popular currency both in the United States and around the world. Ensuring that the bills are distinctive and trustworthy is the job of the U.S. Department of the Treasury, a government entity that’s been printing American bank notes for more than 150 years.
The Bureau of Engraving and Printing, within the U.S. Department of the Treasury, designs and produces millions of U.S. bank notes each day at its facilities in Texas and in Washington, making it one of the largest currency printing operations in the world.
The agency was established in 1862 under President Abraham Lincoln during the American Civil War.
Creating a United States bank note from start to finish is a complex process, according to Bureau Director Larry Felix
“It looks like ink on paper, and it is ink on paper, but there are an extraordinary amount of systems that are on that bank note,” he said.
During the first stage of printing, the background color is applied. On a $20 bill for example, the blue eagle in the background and the subtle orange and green coloring, are put on by the bureau’s offset printing.
Next, the notes are pressed onto inked, engraved plates. Intaglio printing is used for the portraits, vignettes, scrollwork, numerals and lettering that is unique to each denomination.
“Just about anyone who produces a bank note wants to put Intaglio on that note. It gives bank notes that distinctive touch, that feel,” said Felix. “The United States puts more Intaglio than almost any other country because we put Intaglio in the front and on the back.”
The next stage involves the letter press printing process where the serial numbers and seals are added.
“So we put these features in these notes to assist people, to make sure that they can tell if the note is real,” said Felix. “And every step of the way it also helps machines to identify if that note is real or not.”
Regarding the issue of counterfeiting, Felix said the bureau is always evaluating the threats against bank notes in terms of digital and other evolving technologies “that would have an impact on the future of the integrity of a bank note. We’ve anticipated those threats and designed those features into the bank notes.”
While there’s no such thing as a counterfeit-proof note, Felix says counterfeit notes in circulation is less than 1/100th of 1 percent.
“That means,” he said, “that the designs are effective and the United States Secret Service and our partners at the Federal Reserve are very effective in ensuring that U.S. currency rates remains strong and used worldwide and widely accepted.”
Rosie Rios is the treasurer of the United States and has direct oversight over both the Bureau of Engraving and Printing and the U.S. Mint, which produces coins. They are separate bureaus within the Treasury.
Rios’ signature–along with that of the secretary of the Treasury–is stamped on all U.S. bank notes during their time in office.
While the percentage of counterfeit notes in circulation remains very small, she says the government continues to redesign American currency to stay ahead of advancing technologies and tech-savvy counterfeiters.
She pointed to the newly designed $100 note as an example.
“So on the overt features, the features you can see, one of the first things you notice about this new $100.00 bill which was issued in October 2013, is that it has this blue, 3-D security ribbon.”
The ribbon, along with other new security features, makes it easier for the public to authenticate and more difficult for counterfeiters to replicate.
“U.S. currency is trusted world-wide. People recognize it,” said Rios. “So we want to make sure that we produce something that’s trusted, that’s secure, that’s safe and people can continue to use in the future.”
And if anyone is wondering whether cash transactions are becoming a thing of the past, Rios says there’s no need for concern.
“Even though there’s been this enormous amount of electronic transactions over the last few years, the amount of currency that we’re producing in absolute numbers has been increasing,” she said. “So we’re still producing on average seven billion notes per year.”
Sixty percent of those notes are in circulation outside the United States, currency, said Rios, that will be in demand for many years to come.
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