New U.S. $10 Note to Begin Circulating Mar. 2, 06

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NEW U.S. $10 NOTE TO BEGIN CIRCULATING MARCH 2
Businesses that Handle Cash and Manufacturers of Cash Machines Prepare for Safer, Smarter, More Secure $10 Note

Washington - (December 2, 2005) - Redesigned Series 2004 $10 notes will be issued beginning on March 2, the U.S. Department of the Treasury and Federal Reserve Board announced today. On this day of issue, Federal Reserve banks will begin distributing the new notes to the public through commercial banks.

The notes will begin circulating immediately in the United States, and then be introduced in other countries in the days and weeks following, as international banks place orders for $10 notes from the Federal Reserve.

Today's announcement is a signal to businesses that handle cash and use machines that receive or dispense cash, to make final preparations for the new notes. For some businesses, getting ready for the new $10 note means training cash-handling employees on how to use the notes' updated security features; for others, the change involves making technical adjustments to machines that receive or dispense cash, such as vending and self-checkout machines.

In order to stay ahead of counterfeiters, the U.S. government will redesign the currency every seven to ten years.

As part of its education program aimed at preparing the public for the new $10 note, the Bureau of Engraving and Printing (BEP) has put special emphasis on regular communication with manufacturers of cash-handling machines and their customers, to ensure they have the information they need and ample time to adjust their equipment to receive and dispense the new notes.

Highlighted by images of the Statue of Liberty's torch and the words "We the People" from the U.S. Constitution, the new $10 note incorporates easy-to-use security features for people to check their money and subtle background colors in shades of orange, yellow and red.

"As always, you don't have to trade in your old $10 notes for new ones. Both new notes and old notes maintain their full face value," said Federal Reserve Board Assistant Director of Reserve Bank Operations and Payment Systems Michael Lambert. "The updated security features in this redesigned $10 note ensure that it will continue to remain a source of value, trust and confidence around the world."

The new $10 note - like the redesigned $20 and $50 that preceded it - incorporates state-of-the-art security features to combat counterfeiting, including three that are easy to use by cash handlers and consumers alike:

Color-shifting ink: Tilt your ten to check that the numeral "10" in the lower right-hand corner on the face of the note changes color from copper to green.
Watermark: Hold the note up to the light to see if a faint image of Treasury Secretary Alexander Hamilton appears to the right of his large portrait. It should be visible from both sides of the note. On the redesigned $10 note, it is easier than ever to locate the watermark - a blank oval has been incorporated into the design to highlight the watermark's location.
Security thread: Hold the note up to the light and make sure there’s a small strip that repeats "USA TEN" in tiny print. It should run vertically to the right of the portrait.
"We expect to update currency every seven to ten years in order to stay ahead of the latest digital technology available to would-be counterfeiters," said BEP Director Tom Ferguson. "Each time we introduce a redesigned note into circulation, our objective is its seamless transition into daily commerce, both in the United States and around the world."

Counterfeiting of U.S. currency has been kept at low levels through a combination of improvements in security features, aggressive law enforcement and education efforts to inform the public about how to check their currency.

Because the improved security features are more effective if the public knows about them, the U.S. government has been undertaking a broad, worldwide public education program that seeks to raise awareness of the changes to U.S. currency and educate financial institutions, cash handlers and the general public about those improvements.

An array of free educational materials, posters, handy "take one" cards, training videos and CD-ROMs are available to businesses, financial institutions, trade and professional associations, citizen groups and individuals to prepare cash handlers and consumers to recognize the new design and protect against counterfeits. Materials are available to order or download on-line at www.moneyfactory.gov/newmoney.

Since the BEP began taking orders for educational materials describing changes to the Series 2004 currency in May 2003, about 70 million pieces of training materials have been ordered by businesses and other organizations to help them train their cash-handling employees about the notes' enhanced security features.

The new $10 note is the latest in the new series of U.S. currency. The new series began with the $20 note in 2003 and continued with the $50 note in 2004. The $100 note will be the next denomination to be redesigned after the $10 note. At this time, the government has no plans to redesign the $5 note, and the $1 and $2 notes will not be redesigned.

http://www.moneyfactory.gov/newmoney/main.cfm/media/releases12022005

FOR IMMEDIATE RELEASE
March 2, 2006

REDESIGNED $10 NOTE STARTS CIRCULATING TODAY
U.S. Treasury, Federal Reserve Board and U.S. Secret Service Officials Spend First New $10 at the National Archives

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Washington - March 2, 2006 - The redesigned $10 note entered circulation today at the National Archives, home of the U.S. Constitution, which figures prominently in the new note’s design.

On its first day in circulation, officials from the U.S. Treasury, Federal Reserve Board and U.S. Secret Service used a new $10 note to purchase a pocket-sized copy of the U.S. Constitution at the National Archives Shop. The phrase "We the People" from the U.S. Constitution is featured on the face of the new $10 note. Images of the Statue of Liberty’s torch are also incorporated into the new design.

Today is the redesigned $10 note’s day of issue, the day the Federal Reserve System begins delivering the new notes to commercial banks for distribution to businesses and the public worldwide. The notes will begin circulating immediately in the United States and will then be introduced in other countries in the days and weeks ahead, as international banks place orders for $10 notes from the Federal Reserve.

"Staying ahead of would-be counterfeiters is a top priority of the U.S. government, and in order to do that, our currency will need to be redesigned every seven to 10 years," said United States Treasurer Anna Cabral. "Through the introduction of new designs with state-of-the-art security features, we will continue to safeguard the integrity of U.S. currency and help protect businesses and consumers."

The new $10 note incorporates easy-to-use security features for people to check their money and subtle background colors in shades of orange, yellow and red.

While consumers should not use color to check the authenticity of their currency, color does add complexity to the note, making counterfeiting more difficult. Different colors are being used for different denominations, which will help everyone – particularly those who are visually impaired – to tell denominations apart.

"In addition to recognizing the design elements and enhanced security features of the new $10 note, it is important for the public to know they will not need to trade in old notes for new ones," said Michael Lambert, Assistant Director of Federal Reserve Bank Operations and Payment Systems. "Older-design notes will maintain their full face value."

Since unveiling the new $10 note design last September, the U.S. government has distributed more than 10 million pieces of educational material with information about the new $10 note to prepare businesses, stakeholder organizations and consumers worldwide for the new note’s issue.

"Each time we issue a redesigned denomination, our goal is to ensure its smooth transition into daily commerce both domestically and abroad," said Bureau of Engraving and Printing Director Larry Felix. "Over the past six months, we have worked with manufacturers of ATMs and other machines that receive and dispense cash, as well as retailers, small businesses and international governments, so that they may prepare for today’s day of issue of the redesigned $10 note."

"As the permanent home of the U.S. Constitution, the National Archives is pleased that the U.S. Treasury has featured the Constitution in the new $10 bill," said Archivist of the United States Allen Weinstein.

The new $10 note – like the redesigned $20 and $50 that preceded it – incorporates stateof- the-art security features to combat counterfeiting, including three that are easy to use by cash handlers and consumers alike:

• Color-shifting ink: Tilt your ten to check that the numeral "10" in the lower righthand corner on the face of the note changes color from copper to green.

• Watermark: Hold the note up to the light to see if a faint image of Treasury Secretary Alexander Hamilton appears to the right of his large portrait. It should be visible from both sides of the note. On the redesigned $10 note, it is easier than ever to locate the watermark – a blank oval has been incorporated into the design to highlight the watermark’s location.

• Security thread: Security thread: Hold the note up to the light and make sure there’s a small strip that repeats "USA TEN" in tiny print. It should run vertically to the right of the portrait.

"We have always felt that an educated public is often our best defense against crime," said Brian K. Nagel, Assistant Director, Office of Investigations, the United States Secret Service. "We encourage the public to familiarize themselves with the updated security features in the redesigned notes so they can ensure their currency is genuine and effectively safeguard their hard-earned money."

Counterfeiting of U.S. currency has been kept at low levels through a combination of improvements in security features, aggressive law enforcement and education efforts to inform the public about how to check currency.

The government estimates that fewer than 1 in 10,000 $10 notes is a counterfeit. Yet, an increasing proportion of counterfeit notes are produced using digital equipment. Since 1995, digitally produced counterfeit notes have increased from less than 1 percent of all counterfeits detected in the United States to about 52 percent in 2005.

Today’s issue of a new $10 note was preceded by a new $20 note in 2003 and a new $50 note in 2004, each featuring enhanced design and security features to protect the integrity of U.S. currency.

An array of free educational materials, posters, handy "take one" cards, training videos and CD-ROMs are available to businesses, financial institutions, trade and professional associations, citizen groups and individuals to prepare cash handlers and consumers to recognize the new design and protect against counterfeits. Materials are available in 24 languages to order or download on-line at www.moneyfactory.gov/newmoney.

Since 2003, more then 70 million pieces of training materials have been ordered by businesses, consumers, and industry associations around the world to help train their cash-handling employees about the notes’ enhanced security features.

http://www.moneyfactory.gov/newmoney/main.cfm/media/releases03022006

The next batch of $10s which are dated 2006 were recently released and I was the first person to have reported this issue on Where's George.  Not bad for a Crazy Canuck!

It causes quite a commotion since there were no reports from the BEP of a 2006 dated $10 as of September 30th.  I received mine during the annual Oktoberfest celebrations and thought nothing of it since I had seen a few 2004A's before.