NEW YORK (CNN/Money) - If federal banking officials have their way, retailers across America will be seeing pink on Columbus Day. That's because on Oct. 9, the new, peach-colored $20 bills will enter into circulation across the United States.
The front of the new $20 bill. The vertical red printing reads 'specimen'. Click on the image for a larger view.
The Federal Reserve announced Tuesday that distribution of the new $20 notes will begin next month, the first in a series of redesigns that will take place over the next few years.
The eventual redesign of the $50 and $100 bills has already been announced, and the government is considering making changes to the $5 and $10 notes as well.
The Fed, the nation's central bank, says it expects to introduce new currency designs every seven to 10 years, and will use different colors on different denominations.
The new $20 is intended to thwart counterfeiters with an array of security features. "This is the most secure note the U.S. government has ever produced," Fed governor Mark Olson said in a statement.
http://money.cnn.com/2003/09/09/pf/banking/new_20_launches/index.htm
The front of the new $20 bill. The vertical red printing reads 'specimen'. Click on the image for a larger view.
The Federal Reserve announced Tuesday that distribution of the new $20 notes will begin next month, the first in a series of redesigns that will take place over the next few years.
The eventual redesign of the $50 and $100 bills has already been announced, and the government is considering making changes to the $5 and $10 notes as well.
The Fed, the nation's central bank, says it expects to introduce new currency designs every seven to 10 years, and will use different colors on different denominations.
The new $20 is intended to thwart counterfeiters with an array of security features. "This is the most secure note the U.S. government has ever produced," Fed governor Mark Olson said in a statement.
http://money.cnn.com/2003/09/09/pf/banking/new_20_launches/index.htm