You may know that the 100 USD bill is the largest denomination of currency currently in circulation in the United States. You might also remember that this bill features the portrait of Benjamin Franklin. However, there are other interesting facts about this bill that you may not be aware of.
The value of the US dollar is among the highest in the world, and this is well-known. It is also widely used globally, a fact that has been established. However, the behind-the-scenes process of creating these new 100 USD bills remains somewhat obscure to many people.
Here are 9 interesting points about the 100 USD bill:
1. The production cost of a 100 USD bill is only 12.5 cents
The cost to print a 100 USD bill is 12.5 cents, the highest printing cost among other denominations. For example, the cost to print a 5 USD bill is 10.9 cents, while the costs for 10 USD, 20 USD, and 50 USD bills range from 10.3 to 10.5 cents. The lowest printing costs are for the 1 USD and 2 USD bills, which are only 4.9 cents.
Every year, millions of new bills of each denomination are printed to meet consumer demand worldwide. For instance, in 2009, 26 million new bills were printed each day. According to statistics, 95% of the money printed each year is used to replace old bills.
26 million new bills are printed each day.
2. The latest version of the 100 USD bill was released in 2013
Initially, the new 100 USD bill was scheduled for release in 2011. However, due to the addition of two anti-counterfeiting features, the release was delayed by two years. These features include a 3D security ribbon and a color-shifting ink that depicts a bell. In addition to these new elements, three highly effective anti-counterfeiting features from the old design were retained in the new design: the embedded portrait, the security thread, and the color-changing number 100.
Mr. Brian Thompson was the principal designer of the new 100 USD bill released in 2013. He stated: “I see it as a work of art. There is a long story behind this bill.”
The design of the new 100 USD bill was studied by Mr. Thompson since 2005. On the new 100 USD bill, Benjamin Franklin’s face is prominent on the front. This face is based on a portrait from 1778 by French artist Joseph Duplessis. The new bill does not have the oval frame around Franklin’s portrait, allowing for a slight enlargement of his head and shoulders, making it more striking.
Two-thirds of the 100 USD bills are circulated outside the United States.
3. The number of 100 USD bills in circulation is second only to the 1 USD bill
According to the Federal Reserve, there are currently about 8.6 billion 100 USD bills in circulation. This amount is second only to the 1 USD bill, which has 10.3 billion in use.
4. The most circulated 100 USD bill is not in the United States
According to the Federal Reserve statistics, two-thirds of 100 USD bills are circulated outside the United States, while only one-third are in circulation within the country. This indicates that the US dollar is widely popular around the world.
5. The lifespan of each bill depends on its denomination
The lifespan of each bill depends on its denomination rather than the type of paper it is made from. Each 100 USD bill is used for an average of 15 years, while a 1 USD bill has an average lifespan of 5.9 years, a 5 USD bill lasts 4.9 years, a 10 USD bill lasts 4.2 years, a 20 USD bill lasts 7.7 years, and a 50 USD bill lasts 3.7 years. The reason could be that the US dollar is less frequently used due to its larger denomination, while smaller denominations tend to circulate more frequently.
6. The paper used for 100 USD bills has been produced by Crane & Co. since 1879
Crane & Co. has been manufacturing printing paper for all denominations since 1879. The company is currently run by the eighth generation of its founders.
Each 100 USD bill is used for an average of 15 years.
7. The time displayed on the old and new 100 USD bills is different
If you look closely, you’ll see that the time on the old 100 USD bill shows 4:10 on the clock of the Independence Hall, while the time on the new 100 USD bill shows 10:30, also displayed on the clock of the Independence Hall. No one understands the reason for this change.
8. The first 100 USD bill was issued in 1862
The Federal Reserve first issued the 100 USD bill in 1862. At that time, the image featured on this bill was not Benjamin Franklin, but rather an American eagle, positioned prominently in the center of the bill’s front.
9. Benjamin Franklin has been on the 100 USD bill for over 100 years
The Federal Reserve first printed Benjamin Franklin’s image on the bill in 1914. Although Benjamin Franklin was not a president of the United States, he is regarded as a “Founding Father” of the country. He was one of the signers of the Declaration of Independence. Thus, Benjamin Franklin has been featured on the bill for 102 years as of now.
10. When the bill is held up to the light, one can see a small, less detailed portrait of Benjamin Franklin. The linen fibers in the paper cause this embedded image to appear faded rather than sharp, as it would be on bills made entirely of cotton.
11. Tiny, microscopic letters that can only be read with a microscope appear in the engraving of Benjamin Franklin located at the collar area. No engraving artist is allowed to leave any marks of their own on their work in any form. The engravers working here are strictly prohibited by the government from leaving any signatures on their creations.
