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$100 bill's new facelift goes awry - Business - CNBC TV - msnbc.com
Quotes from the news release:
"The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of U.S. currency on the planet, which a government source said is $930 billion in banknotes. For now, the unusable bills are stored in the vaults in "cash packs" of four bundles of 4,000 each, with each pack containing 16,000 bills."
"An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face."
I wonder what these bills are worth in their current condition.
Also, as an individual who has been in the printing trade for several years, checking the machine as well as the work is one of the jobs a professional printer gets paid to do. I find it hard to believe that an error like this occurred accidentally, especially from printers printing US currency.
Quotes from the news release:
"The total face value of the unusable bills, $110 billion, represents more than ten percent of the entire supply of U.S. currency on the planet, which a government source said is $930 billion in banknotes. For now, the unusable bills are stored in the vaults in "cash packs" of four bundles of 4,000 each, with each pack containing 16,000 bills."
"An official familiar with the situation told CNBC that 1.1 billion of the new bills have been printed, but they are unusable because of a creasing problem in which paper folds over during production, revealing a blank unlinked portion of the bill face."
I wonder what these bills are worth in their current condition.
Also, as an individual who has been in the printing trade for several years, checking the machine as well as the work is one of the jobs a professional printer gets paid to do. I find it hard to believe that an error like this occurred accidentally, especially from printers printing US currency.
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