The E-Sylum:  Volume 9, Number 11, March 12, 2006, Article 32

NEW $10 BILL LAUNCHED AT NATIONAL ARCHIVES CEREMONY

The Associated Press reported on a low-key ceremony March 3 to
launch the newly-redesigned U.S. $10 bill:

"To mark the event, officials from the Treasury, Federal Reserve
and Secret Service put the first new $10 bill into circulation at
a brief ceremony at the National Archives.

Michael Lambert, assistant director of the Fed's payment system,
purchased a $10 copy of the Constitution in the Archives gift shop
with one of the new bills.

He predicted people would see the new $10 bills in circulation
very soon, possibly as early as Thursday. The country's larger
banks typically place orders for currency daily with the Fed.

U.S. Treasurer Anna Escobedo Cabral, whose signature appears on
the currency, said the government plans to redesign the currency
every seven to 10 years because "staying ahead of would-be
counterfeiters is a top priority."

The new $10 bill still features Alexander Hamilton, the nation's
first Treasury secretary, on one side, and the Treasury building
on the other side. But those two images are joined by the Statue
of Liberty's torch and "We the People" in red along with small
yellow 10s and a subtle orange background."

"The $100 bill is the next denomination scheduled to receive a
dash of color, but that may not occur until 2007 or later. The
government is asking for proposals from private businesses on
what security features in addition to colors need to be added
to this bill, which is the most frequently counterfeited outside
of the United States."

To read the complete story, see: Full Story

  Wayne Homren, Editor

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