New Color C-note being released in one month

The new color $100 banknote is due to be released in one month

As you know, Canada is replacing their entire cotton based banknotes with new polymer banknotes. At the end of 2012 they were circulating 687 million polymer notes and over 1300 cotton banknotes (all denominations). But since most people don't mind particularly a mix of both kinds of notes in their wallet, the cotton notes should be replaced by next year with a minimal amount of fuss. After a while they will probably demonetize the old notes, but banks will still exchange them for years (if you find a box under grandma's bed when she dies).

The American c-note is a different animal. At the end of 2012 there were 8.6 billion c-notes in circulation, and roughly 6 billion are circulating overseas. In 1996 there was a huge rush overseas to replace the small headed Benjamin with the big-headed Benjamin. People are very afraid that no one will accept the old notes. The fact that the US government says their money is valid forever is not really relevant if people refuse to take them. Many place overseas (especially Africa and Asia) will not accept a c-note with a serial number earlier than 2006.

January 26, 1996 article on rush in Russia to get new C-notes

Obviously many of the c-notes are being stored for illegal purposes.

The production supply of the new color c-notes is slightly over 4 billion. It will take a few years until 8.6 billion new notes are produced. Although most stores in the USA are still going to accept the old notes, many people will want the new ones just for the novelty. You can expect that many people will be trying to get as many of the new notes as they can, while they exchange them overseas at a good price.

I wonder if it would be a money making venture to set up an exchange in one of these foreign lands where you take $100,000K of new $100 notes and a counterfeit detector and charge 10% to exchange old notes for new. It'd pay for your airfare and you'd make a pretty penny too.

Of course US authorities might get a little cheesed when you are leaving and entering the country with $100k / 110K of new and old notes.

Quote: boymimbo

Of course US authorities might get a little cheesed when you are leaving and entering the country with $100k / 110K of new and old notes.

I assume that the original statement of $100,000K is a misprint. That would be about 25% of the supply and weigh 100,000 kilograms.

There is nothing illegal about carrying over $10K. It is only illegal not to report it. However, it is very difficult to catch someone with $100K, as it is relatively easy to divide and hide. A million dollars would weigh 22 lbs, and would certainly be riskier.

I am certain that there will be a lot of people will be transporting $100K. Presumably the only people that pay 10% don't want it known where the money came from. That is why I think there will be shortages of banknotes.

There was a huge jump in the European economy just before the conversion to Euros. People were anxious to turn their hidden cash into valuable items like antiques because they didn't want to explain where the money came from at conversion time.

The new c-note was scheduled to be released on Tuesday. There is no word if the government shutdown will delay the release.

Collectors are eagerly awaiting the low number serial numbers
In 1996 a collector paid $10K to acquire serial number #1 on the new big headed Benjamin.

Presumably gamblers will clamor to get the new bills.


Circulation numbers of US currency are at $1.2 trillion, (this chart only goes through end of 2012) roughly double the amount in the summer of 2001.


The c-notes were circulating at $0.86 trillion at the end of 2012. The new notes will go into circulation faster than the old notes are collected and destroyed, so for the first time a single denomination of any world currency will probably exceed $1 trillion in value.

There are €285 billion in €500 banknotes in circulation and fewer than $40 billion in Swiss 1000 franc notes in circulation (worth roughly €800 or $1100 apiece).

If they are changing all the money over to polymer let me know what you think of it in a month or two. The bills stick together like crazy... not bad if you have a bunch of $5s but when you get into the brown notes well you tend to try to squeeze one bill into two with you thumb and index finger all the time.

How long is it going to take the slot teck people to change over all the bill readers in Vegas?

Last I checked, there is not going to be a delay because the bills are already at the various Federal Reserve Banks. A bigger question is if your local bank has placed an order for them. How quickly you see them depends on how quickly your local bank orders them from the Fed Reserve District Bank and how quickly your local bank distributes them.

I've been following the new $100 for some time: My web page on the subject: http://alanbestbuys.com/id239.html and also see: http://alanbestbuys.com/id324.html

It's likely that casinos will be the first to get the new $100s but I've been checking with casinos for the last month and I am yet to find even one that has briefed its workers about what a new legitimate $100 looks like.

My fear is that the dramatic change in the bill will give a bigger opportunity for counterfeiters to pass their own creations.

Quote: AlanMendelson

My fear is that the dramatic change in the bill will give a bigger opportunity for counterfeiters to pass their own creations.

Why would they try to make the new HARDER TO COPY new bills over the older easier bills? If this new bill is anything like the new $100 Canadian bill the security futures involved will make it extremely hard to reproduce.

http://www.bankofcanada.ca/banknotes/bank-note-series/polymer/

His point is that people haven't been informed as to the security features of the new bills, which would make detecting counterfeits much more difficult.