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<p>[QUOTE=&quot;Numbers, post: 1348276, member: 11668&quot;]Yes, the Federal Reserve&#039;s <a href="http://www.federalreserve.gov/generalinfo/foia/2012newcurrency.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.federalreserve.gov/generalinfo/foia/2012newcurrency.htm" rel="nofollow">New Currency Budget for 2012</a> said that the printing problems with the new $100&#039;s are, if not entirely resolved, at least mitigated to the point that production can go forward.&nbsp; It sounds like the Kodachrome $100&#039;s might still have a somewhat higher rate of star notes than we&#039;ve been used to in recent years, but that sometimes happens with a new production process (remember that Series 1957, the first series to be printed by the dry-intaglio process, was over 10% star notes!), and isn&#039;t terribly alarming.</p><p><br /></p><p>That same document, though, indicates that 1.5 billion Kodachrome $100&#039;s are scheduled to be printed in FY2012--enough to &quot;begin building inventories before issuance&quot;.&nbsp; If the 2012 production is only going to &quot;begin building inventories&quot;, then it doesn&#039;t really sound like a 2012 release date is still being considered.&nbsp; I guess we never know for sure until they tell us, though....</p><p><br /></p><p>I doubt that the election has anything to do with the timing, but the changing seasonal demand for currency does.&nbsp; The Fed doesn&#039;t want to try to bring out a new design during what&#039;s already their busy season, around the Christmas holidays.&nbsp; If you look at the past few new design releases, there&#039;s a clear seasonal pattern:</p><p><br /></p><p>February 10 (originally scheduled Kodachrome $100)</p><p>March 2 (Kodachrome $10)</p><p>March 13 (Kodachrome $5)</p><p>March 25 (big-head $100)</p><p>April 13 (Bicentennial $2)</p><p>May 24 (big-head $5 and $10)</p><p>September 24 (big-head $20)</p><p>September 28 (Kodachrome $50)</p><p>October 9 (Kodachrome $20)</p><p>October 27 (big-head $50)</p><p><br /></p><p>So I&#039;d say that we should be looking for either a spring or a fall release date for the Kodachrome $100.&nbsp; I guess there&#039;s an outside chance for the fall of 2012, but I think the spring of 2013 looks a whole lot more likely given the wording of that Fed document.</p><p><br /></p><p>As for the $2, I think that with all the $100 production that&#039;s going on now, they decided to print the smallest batch of $2&#039;s that was worthwhile.&nbsp; When they printed a biggish quantity of Series 2003A $2&#039;s in 2006, they were deliberately trying to make sure that they wouldn&#039;t need $2&#039;s again until after the Kodachrome $100 startup was over--that&#039;s why they printed six years&#039; worth of $2&#039;s at one time--but of course the delays with the Kodachrome $100 threw a monkey wrench in that planning.&nbsp; Now I&#039;m thinking they probably want to print just enough $2&#039;s to tide them over until the $100 mess is fully resolved, and then get the Kodachrome $100&#039;s back on the presses.</p><p><br /></p><p>It&#039;s possible that the $2 will be included in the next redesign, for the legal reasons that you bring up...but it seems very unlikely that the $2 would be the *first* denomination redesigned, which it&#039;d almost have to be by your suggested schedule.&nbsp; The past two redesign cycles began with the $100 and the $20 respectively, the two most heavily used denominations (aside from the $1).&nbsp; That way, people became familiar with the general features of the new design as quickly as possible.&nbsp; I wouldn&#039;t expect the next redesign to reverse that pattern and start with the *least*-used denomination.[/QUOTE]</p><p><br /></p>

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