New $5 Bill Issued by U.S. Treasury

According to a March 13, 2008, Federal Reserve press release a security enhanced $5 bill was issued by the Federal Reserve Thursday, March 13, 2008. The $5 bill still features President Lincoln but has been updated in every running battle to stay ahead of counterfeiters.

The new $5 bill's state-of-the-art security features are easy to check by simply holding the bill to the light.

New $5 bill security feature: Two Watermarks

In a blank space to the right of the portrait there is a large $5. This replaces the previous watermark of a picture of Lincoln on the older $5. The second water mark is a column of three smaller 5's to the right of the portrait.

New $5 bill security feature: Security Thread

An embedded security thread with alternating letters "USA" and 5's runs vertically to the right of the portrait on the new $5 bill. The security thread and alternating pattern are visible from both sides of the bill. The security thread glows blue in ultraviolet light.

New $5 bill features: Purple printing

The Great Seal of the United States, featuring an eagle and shield is printed in purple on the front of the bill. This is, according to the Federal Reserve, the most noticeable design change. The Federal Reserve warns that because color can be duplicated this should not be relied on as a key security feature. Watermarks and the security thread should be checked.

Other new features of the $5 bill include a larger, high-contrast, purple 5 in the lower right corner on the back of the bill. This design feature is to help those with visual impairments distinguish the denomination.

President Lincoln's portrait and the Lincoln Memorial on the back are no longer framed by oval borders, but both have been enhanced.

Small yellow 05's are printed to the left of the portrait on the front of the new $5 bill and to the left of the Lincoln Memorial on the back of the bill.

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U.S. Secret Service Comments on New $5 bill

According to the Federal Reserve, in 2007, $61.4 million in counterfeit money was passed in the United States. Every counterfeit bill passed in circulation creates economic loss. Consumers and business owners alike must learn to protect themselves against counterfeiters. Once you accept a counterfeit bill and identify it as such, you are stuck with it. Some people continue to try to pass the bill so that they aren't stuck with the loss. It is illegal to pass counterfeit money. All you can do once you accept a counterfeit is report it to your bank and/or local police. The bank cannot redeem counterfeit money for genuine U.S. currency.

"Everyone who uses U.S. currency is on the front line of defense against counterfeiters," said Michael Merritt, Deputy Assistant Director, U.S. Secret Service. "The best way to protect yourself is to learn the security features. It's simple, it's quick, and it can save you from accepting a fake."

US Treasurer Comments on New $5 bill

The Treasure of the United States Anna Escobedo Cabral also encourages consumers and businesses to educate themselves about the features of the new $5 bill, and other recently redesigned bills. According to Cabral, " Each time we introduce a new bill, we provide the information businesses and individuals need to empower themselves - to learn how to use the security features and verify that a bill is genuine." The US Treasury encourages businesses and consumers to visit www.moneyfactory.gov/newmoney for free educational material about redesigned currency.

The U.S. Treasury stays on the front line educating financial institutions and businesses how to recognize new designs to protect themselves against counterfeits. According to the Federal Reserve, since 2003, the U.S. government has distributed about 80 million pieces of educational and training materials about $5, $10, $20 and $50 bill redesigns.

Automated cash handling machines have been given information since 2006, in order to make adjustments so that machines will accept the new $5 bill. Both the old $5 bill and the newly designed $5 bill retain their face value. The old bill will be phased out as worn out currency is returned to the Federal Reserve for destruction and the new $5 bill is distributed for replacements.

Source:

Joint Press Release: Federal Reserve System