Academic journal article Federal Reserve Bulletin

Businesses, Banks, and Cash-Handling Equipment Manufacturers Get Final Alert to Prepare for New $50 Note

Academic journal article Federal Reserve Bulletin

Businesses, Banks, and Cash-Handling Equipment Manufacturers Get Final Alert to Prepare for New $50 Note

Article excerpt

Treasury and Federal Reserve Announce Safer, Smarter, More Secure $50 Note to Begin Circulating September 28, 2004

The newly redesigned Series 2004 $50 notes, featuring subtle background colors of blue and red, images of a waving American flag, and a small metallic silver-blue star, will be issued beginning on September 28, 2004, the U.S. government announced on June 30, 2004. On the day of issue, the Federal Reserve Banks will begin distributing the new notes to the public through commercial banks.

The June 30, 2004, announcement of the $50 note's day of issue signals to banks and businesses that they should make final preparations for the new notes. For some businesses, preparations include training cash-handling employees on how to use the notes' security features, for others it entails making technical adjustments to ATMs or machines with cash receptors, such as vending or automated checkout machines.

"The enhanced security features in this series of notes help ensure that U.S. currency will continue to represent the trust, value, and confidence that people all over the world have grown to rely on and expect," said Federal Reserve Board Governor Mark W. Olson. "As always, all new notes will co-circulate with the older designs. …

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