I've had this explained to me before, but I can't remember. I've had several people talking about the new $5's ask me why they are just showing up when they were made in 2006. I know that a note that is dated 2006 wasn't neccessarily made IN 2006. So I would like to be better able to explain to people why it says "2006" but wasn't made in 2006. Am I explaining what I'm asking clearly, or am I not making sense? LOL Thanks.
The number is a "series date", not an "issue date". For whatever reason, despite the massive design change the BEP has decided to keep the current 2006 series designation, and just changed the suffix letter on the new bills.
It is the 2006 Series designation because in 2006, the design for the new $5 was apporved. That's how they figure out the series date.
Its also dependent on the signatures. If the Secretary of the Treasury is replaced, the series date will be updated. However, if the Treasurer is changed, they will add a letter behind the date.
When William E Simon became Sec of Treasury he directed that the series year be changed whenever there was a change in the Office of the Sec of the Treasury. Now the series dates are advanced by one letter, or a new year is selected, the latter being the more common recently. Consequently, each new signature now results in a surprise for us collectors! Hope that helps!! RickieB
Also note that a change in the offfices of treasurer and/or secretary of treasury might not cause a new series to be started... for example the 2003A series of $2 bills is still being printed even though Henry Paulson replaced John Snow as secretary back in 2006. When they declare that series run concluded, and if they decide they need more ($2 bills are not in great demand, so they often skip several years between new series) the newly started series will have a new series date, the date being whenever the new run is authorized (not necessarily when they start printing and issuing them). Usually though a production run is exhausted fairly quickly by demand... the production of a given run of $2s is spread out longer because they are not as highly demanded. $1 bill runs by comparison usually are done after less than 2 years, hence they'll be getting new series dates more often. The most recent series date of any US paper money so far is series 2006, with the signatures of Anna Escobedo Cabral (treasurer) and Henry Paulson Jr. (secretary of treausry).
In other words, the answer to the original question of "What determines the date on paper money?" is "The whim of the Secretary of the Treasury in office at the time."
