Federal Government Unveils New $50 Bill
Ulysses S. Grant is getting a face-lift. Grant, who has adorned the $50 bill since 1913, will debut with his new look this week in the latest of the bill redesigns done to ward off counterfeiters.
Production of the new $50s will begin this summer at the printing plant in Ft. Worth, TX, where the new look was unveiled this week. The new bills will be in circulation by the end of September or early October, according to Dawn Haley, spokeswoman for the Bureau of Engraving and Printing.
|The new $50s will take on a similar look as the new $20s, which feature Andrew Jackson. In both cases, the president’s face becomes larger and more prominent in the new design. The pastel tones on the $50 will be even more vivid than they are on the $20, CNNMoney reported.|
|The new $50 front|
The $50, which made its debut in 1862, will also boast an enhanced Capitol Building on the back and will feature several new fonts to present the 50 number.
There are 1.2 billion $50 bills in circulation, worth $58.2 billion. The bills have an average lifespan of five years, CNNMoney reported.
|"This $50 note is beautifully designed and includes important anti-counterfeiting features," said Federal Reserve Board Governor Mark Olson, in a speech made at the unveiling ceremony. Fighting note forgery, he added, "is a job that's never finished."|
Anti-counterfeiting technology in use in the new $50s includes an embedded plastic strip running vertically; a watermark image engrained into the paper itself; and color-shifting ink, whose appearance changes as you tilt the bill against light, CNNMoney reported.
The government spent nearly $12 million to market the new $20s, but this time, "there will be more of a business-to-business focus to our public education efforts," said Haley.
The Bureau is hoping to avoid some of the counterfeiting snafus that emerged after the $20 was first unveiled. "The technology was so new, we missed a few," acknowledged Haley to CNNMoney.