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I NEWS FROM THE MARKET
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Crane Currency is pleased to inform that on April 21, 2010 the U.S. Department of the Treasury, the Federal Reserve Board and the United States Secret Service unveiled the new design for the $100 banknote. The information is available on www.newmoney.gov
Crane Currency is the proud supplier of the primary security materials in the new $100 banknote. The 3D Security Ribbon, better known to the banknote community as Motion security thread, plays a prominent role in the new $100. Quoting Secretary of the Treasury Mr. Tim Geithner, “this banknote incorporates the best technology available to ensure that we’re staying ahead of counterfeiters’” and “The new security features announced today come after more than a decade of research and development to protect our currency from counterfeiting.”.
The US Federal Reserve Bank will launch the new $100 banknote on February 10, 2011. This program entails the replacement, over a 3 year period, of 6,5 billion $100 banknotes in circulation. This denomination alone represents the majority of the total value of US Currency in circulation worldwide. “The $100 is the highest value denomination that we issue, and it circulates broadly around the world,” said Michael Lambert, Assistant Director for Cash at the Federal Reserve Board. “Therefore, we took the necessary time to develop advanced security features that are easy for the public to use in everyday transactions, but difficult for counterfeiters to replicate.”
Since first introduced in Swedish banknotes three years ago, Motion’s success has grown at a rapid rate. At the present time, Motion security thread has been adopted by ten (10) Central Banks throughout the world for their respective new generation currencies and is now represented in twenty-six (26) denominations.
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