2004 Press Releases

U.S. Unveils New Design for $50 Bill

Bratislava, April 26, 2004

The U.S. Department of the Treasury's Bureau of Engraving and Printing has unveiled a new design for the $50 bill -- the second in an ongoing series of U.S. currency redesigns that incorporate upgraded security features to guard against counterfeiting.

In an April 26 news release, Treasury said that new or upgraded security features of the $50 note include a watermark, security thread and color-shifting ink. The design also features shades of red, white and blue.

The redesign is part of the U.S. government's ongoing efforts to thwart counterfeiting and protect the integrity of U.S. currency, Treasury said. It added that deterrence efforts have kept counterfeiting at low levels. Current estimates put the rate of counterfeit $50 notes in circulation worldwide at less than 1 note for every 25,000 genuine $50 notes in circulation, according to Treasury.

In one of a series of press events previewing the new $50 bill, Deputy Treasury Secretary Samuel Bodman told foreign journalists in Washington that older-design notes will remain legal currency even after the new money is issued.

Treasury estimates that there are nearly $700 billion in circulation worldwide and that as much as two-thirds of U.S. currency is held outside the United States.

The redesigned $50 bill, which will be put into circulation in late September or early October, is the same size and still features former president Ulysses S. Grant on the front and the U.S. Capitol building on the back. The borders around both Grant and the Capitol have been removed.

The $50 bill incorporates subtle background shades of red, white and blue, just as the new $20 bill that went into circulation in October 2003 features shades of peach, blue and yellow.

A new $100 bill is scheduled to be introduced in 2005.

Additional information about U.S. currency and downloadable images of the new currency designs are available at: http://www.moneyfactory.com/newmoney