The U.S. Bureau of Engraving and Printing (BEP) has released the official date on which the new $100 bills will start circulating. These will be redesigned according to the schedule established by the authorities. In this context, some doubts arise, such as: Should I exchange the current bills for the new ones?
Before answering this question, it is necessary to talk about this new 100 dollar bill. It is a specimen, whose remodeling is in charge of the Advanced Counterfeit Deterrence Steering Committee (ACD). Its purpose is to make the national currency resistant to counterfeiting systems, which are becoming more and more sophisticated and represent a great risk for the country.
In this sense, the BEP explained that the reason why they decided to redesign the banknote is strictly linked to security. “The careful integration of unique security features is the fundamental basis for keeping cash safe and ensuring the stability of the U.S. economy,” said the Bureau of Engraving and Printing.
In the face of this redesign, it is very common to question whether it is necessary to redeem old bills. Although the real question here is whether it is strictly necessary to exchange the current issues, and if the answer is yes, when should I do it? Now we explain it to you in a simple way.
Official date on which the new 100 dollar bill will enter into circulation
According to the official planning schedule, the new $100 bill will start circulating in 2034. The authorities explained that more than a decade of research and development is required to successfully implement this currency. But that is not all, to that decade, several years of optimization and integration tests must be added.
As there are still many years to go, the recommendation is not to worry about this issue. But to make it more official, the BEP specified that the circulating currency should not be exchanged before the redesign period. Likewise, the current 100-dollar bills will remain legal tender.
This is a policy already used by the U.S. Government. The authorities intend that all U.S. currency designs will remain legal tender, regardless of when they were issued. This strategy includes all Federal Reserve bill denominations from 1914 to the present.
Will its design change?
At the moment, there is nothing confirmed about the design of the new $100 bill that the U.S. Bureau of Engraving and Printing is working on. We will have to wait to see if the image on the front or back of this issue changes. Let us remember that, at present, it features the figure of Benjamin Franklin.
It is worth noting that, although the Treasury Department issued banknotes of this value in 1862, as part of the “United States Notes”, a program aimed at financing the Civil War, it was not until 1914 that the image of Benjamin Franklin appeared. Since then, the historical icon has remained on the banknote, thus enhancing his legacy as inventor, politician and one of the founding fathers of the American soil.
When will the new banknotes of other denominations enter into circulation?
The official schedule of the U.S. Government informs that there will also be other banknotes that will enter into circulation during the next few years. Likewise, the new 100 dollar bill will be joined by the 10, 50, 20 and 5 dollar bills. Each one will have its specific date to start circulating. These dates are:
- USD 10: 2026
- USD 50: 2028
- USD 20: 2030
- USD 5: 2032
