The $110-billion Printing Error
A printing error for U.S. $100 bills have resulted in 1-billion bills to be kept out of circulation.
According to a story by Eamon Javers of CNBC, upwards of 30 percent of the $100 bills coming off the press had a defect. "After they were printed, officials discovered that some of the new bills have a vertical crease that, when the sides of the bill are pulled, unfolds and reveals a blank space on the face of the bill. At first glance, the bills appear completely printed, but they are not."
Upwards of a decade was spent redesigning the new U.S. $100 bill, which includes numerous security features. Until the cause of the problem is found and rectified, the U.S. Government will reprint the older edition to ensure that the supply is uninterrupted. Approximately 6.6-billion $100 bills are in circulation at any given time and new bills must be constantly circulated to replace deteriorating copies.
The defective bills are currently being stored at Fort Worth, Texas, and Washington D.C. The bills were originally scheduled to start circulating in February 2011.
Read the full story here.
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