New $10 dollar note

why the bureau of printing and engraving not issue a re-designing $5, $2 and $1 note at a limited copies for the collectors. so that the collectors can have a complete set from $100 to $1 note. they can charge it at the premium. they can also earn a lot to cover the expenses for re-designing. see what the u.s.mint did. they make a hugh profit for the coinage. i hope the bureau of printing and engraving will follow the mint.

 

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I do not think it is worth it for counterfeiters to counterfeit coins anymore (accept for the US dollar coins that circulate in the Phillipines). On the other hand, paper money is heavily counterfeited so having too many designs can make it easier for counterfeiters.

Charlie

 

I belive there is limited profitability in counterfeiting 1,2 and5 dollar notes, u need many to make worth your while, which means greater chance of getting caught. The Euro 50 cent 1,2 and 5 Euro is not so popular with counterfeiters, mainly the 50 and 100 Euro, Aussie money is rarely counterfeit, than only minute 100 and 50 dollars.

 

i don't think redesigning the lower denominations would effect counterfeiting at all because most counterfeiters don't bother with them anyway...which is exactly the reason the bep gives for not redesigning them.

annie has a good point. if the mint can profit with collectors by issuing over a hundred different coin designs, why not make just three design updates to make all of our money match? if not for general circulation, then limited runs just for collectors. they made a killing with their limited-edition "evolutions" sets.

 

I honestly think the printing bureau does take the value of US paper money very seriously. You must also not forget that the world isn't just US alone but also US paper bills are used overseas, from Russia to other small countries. And note that when travellers travel to such countries, they obviously don't bring too many small denomination notes but bigger denominations. Of course, there are plenty of stories that there are quite a fair bit of stores in the US don't take such big bills etc but that's how the rest of the world and probably criminal worlds work. There are plenty of countries that don't accept 100 dollar bills that are any older than 1996 if I am not mistaken. Therefore the bigger denomination notes are first priorized.

As for the lower denomination, why are there no new designs for now? Let's go back to the issue of US notes circulating worldwide especially the poor people. These people and in some cases, children, work less than 1 dollar at quite extreme countries and if you introduced something new, they fear that these might be fake notes instead. Indeed, you might think it is a laughing matter but if you see the paronia of their faces, it will give you a lasting effect. I remembered this when the US dollar was modified around 96. Some money changers refused to exchange it and I had to bring it to the banks for a horrible exchange rate.

Therefore, my best guess is that by introducing the higher denomination value first, it will first sink into the people's image that the design of US dollars have changed.

 

In countries of the former Soviet Union it is advisable to take only the newest USA dollar bills with you. It is advisable to keep local currency to a minimum to pay for buses, metro etc and small food things. Practically everthing else is paid for in USA dollars, because the local currency is just not trusted enough.

When I bought a couple of water heaters I sure did not pay in Hryvnia, but in dollars. If you buy a CD-Player it is not likely that it will not have a price in dollars also.

The currency changes in the USA were so consequential that the USA Treasury website once had a page in Russian about the currency changes.

 

My experience with Poland, the USSR (which shows you how long ago it was), and Turkey is that you do take small notes. They get things done on the street that wouldn't get done otherwise. A taxi driver would drive better if you told him there was a one or a five in it for him. I got a Soviet visa stamp in my passport (Which was illegal, technically. It was supposed to be on my visa paperwork only, which they took when I left the country.) by leaving a $1 note in my passport when I flew out of Moscow. And when you consider the exchange rate, the item (be it souvenir or service) gets done cheaper with dollars. In rural Turkey, for example, the "good" pay restrooms (they were all pay toilets) were advertised as "6 for a dollar," while the "bad" ones were advertised as 1 million TL.

 

new ten dollars note

hi, san miguel beer, you must be from the philippines. right?. me too.

 

new $10 paper note

it's beautiful. now we got 50 ,20, & 10. 100 will follow soon. once every 7 to 10 years. the design will be change again. i love it.

 

keep changing

wow, that's amazing. we can collect more u.s. paper money.

 

If you get bad service in Russia, you pay with Russian currency, good service you pay with dollars. Once I was in a market in Khabarovsk, in Far East of Russia. I was buying curtains for my windows from a seller there and ran out of Ruble notes, I offered her dollars instead, something like three dollars. It was funny, she looked at the three one dollar bills in the sunlight, saw no watermark, and handed them back to me, said they were no good, cannot take them, rubles only please. Her friend practically slapped her senseless and called her a fool, so she ended up taking my three dollars.

In another instance I had bags carried up to the ninth floor of hotel there, the porter was rude and slow. So I give him ruble note. He threw it back, says dollars only. I say no dollars, what you think I am American or something.!

In the USSR days it was not legal to own dollars, they could be confiscated and yourself put in jail. But practically anybody with any sense had them Now everybody have them, including those with no sense.

 

I have not heard that they will not redesign the 5, but the reasons for the 1 are more clear. The vending machine insutry is still determined to get the govt to stop making dollar bills, so they were able to get a law passed that the $1 bill would not be redesigned. As for the 2, it is rarely used so I think that is the reason. It is only printed in special runs when needed, not on a regular basis.

 

Actaully, coins are counterfeited in many places. In Columbia they make fake Sacky dollars for use in Ecuador, and in Europe the make fake euro, two euro, and even 50 cent coins. Meanwhile, England has a huge problem with fake pountd coins.

The profit margins are smaller, but they are easier to pass if well made.

 

Try a Japanese 500yen which is almost a face value of 4-5USD depending on the exchange rate. Just last year, Japan got hit by a sting of counterfeit 500 yen coins again even though the design was modified. Those coins didnt' really have to be circulated by people as they were deposited into vending machines and there are banks that do accept 500 yens as deposits. At one stage, more than 2000+ of such coins were produced if I remember correctly. Can you imagine the heaven of counterfeits at work?

 

fake jap coins

i got some 500 yen coin. how can we determine it?.

 

500 yen

give it to me then...

 

Its the little details that count.
http://madeira.cc.hokudai.ac.jp/RD/artifex/500YenCoin/500B-Marked.jpg

 

I honestly doubt if you have a counterfeit of such 500yen. If it is, usually the hologram is poorly counterfeited and the edge is poorly edge milled, if not manually etched. The color range of a genuine one should be "yellowish" because of the Copper-Zinc alloy, like in the link shown. There were a few more characterists of the counterfeited coin but I don't remember. Or else it might be possible if you have the "older" series of the 500 yen, which is minted in CuNi alloy, making it look "whiter".

I would be interested if you have it as almost all of the counterfeited coins were accounted for - they only lasted deposition in the ATM machines and very few hand to hand transactions.

 

The U.S. changes its currencies every ten years... or 7 i can't remember...for various purposes.

 

Kinda Cool. Every time I get a ten from now on, I think I'll have more money than I do.