Businesses, banks, and cash-handling equipment manufacturers get final alert to prepare for new $50 note.

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. All notes are good for good."

"The objective of the new currency program is a safer, smarter, and more secure currency and its smooth transition into daily commerce," said Tom Ferguson, Director of the Treasury's Bureau of Engraving and Printing (BEP). "To that end, we have been working with the appropriate machine manufacturers for nearly two years to ensure they have the information they need to make their equipment compatible with each newly redesigned note that is introduced into circulation."

Public Education

A variety of training materials--such as posters, training videos, and brochures--is available in twenty-four languages. The materials can be downloaded or ordered through www.moneyfactory.com/ newmoney.

Since the Treasury's Bureau of Engraving and Printing (BEP) began taking orders in May 2003, more than 46 million pieces of training materials have been ordered by businesses and other organizations to help them train their cash-handling employees about the notes' enhanced security features.

Additional text that appeared in this press release was also stated in the announcement released on April 26, 2004, "United States Unveils' New $50 Note," which appears on page 340 of this issue.