Newspaper article THE JOURNAL RECORD

Revealing of New $20 Bill Set for May

Newspaper article THE JOURNAL RECORD

Revealing of New $20 Bill Set for May

Article excerpt

WASHINGTON -- The $20 bill -- the largest denomination most Americans use in their daily business -- is getting a new look.

Like the $100 and $50 notes before it, the $20 is being updated with anti-counterfeiting features, including an enlarged, off- center portrait.

Andrew Jackson, the nation's seventh president and hero of the 1815 Battle of New Orleans, will retain his spot on the front of the double-sawbucks -- so-named because the Roman numeral XX on 19th century versions of the bills looked like two sawhorses. The White House still will be portrayed on the back. The Treasury Department said Monday that Secretary Robert Rubin and Federal Reserve Chairman Alan Greenspan would reveal the new design on May 20 but the bills won't show up in automated teller machines and cash drawers before the fall. In the meantime, the Treasury Department is preparing a public education effort to persuade Americans to stop and look at money they receive before tucking it into their wallets. Even the most sophisticated anti-counterfeiting features don't work if cash handlers don't check for them. After the introductions of the new $100 note in March 1996 and the new $50 last October, bankers said some businesses were stuck with bogus bills simply because employees weren't familiar with the new designs. "In a way it's a tribute to the job the Secret Service does that people don't give a thought to the bills they receive," said Howard Schloss, assistant Treasury secretary. "But one of the things we'll be stressing is that people should take a couple of moments to authenticate bills.... It's impossible to replicate all of the security features," he said. Like the portraits of Benjamin Franklin on the new $100s and Ulysses S. Grant on the new $50s, Jackson's will be surrounded by very fine, hard-to-duplicate concentric lines. And, like the $100s and $50s, a watermark in the shape of the portrait, only smaller, will be visible when the bill is held up to a light. An embedded polymer security thread also will be seen when looking through the bill. When exposed to ultraviolet light, the $20s' thread will glow green. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.