<title>Redesigning U.S. currency</title>

Abstract

The first new design of United States currency in over 60 years will soon be issued. Its issuance will be the culmination of a 6-year effort to make U.S. currency more secure against widely available advanced reprographic technology. The cooperative effort was directed by the Advanced Counterfeit Deterrence (ACD) Steering Committee, with executive representatives from the Federal Reserve System (FRS), U.S. Secret Service (USSS), Bureau of Engraving and Printing (BEP) and Treasury Department. A task force of technical experts from each agency carried out the necessary evaluations. The overall strategy to determine the new design and new features applied a comprehensive, synergistic approach to target each type of currency user and each type of counterfeiting. To maximize objectivity yet expedite final selection, deterrent and detection technologies were evaluated through several parallel channels. These efforts included an open request for feature samples through the Commerce Business Daily, in-house testing of each feature, independent evaluation by the National Research Council, in-house design development and survey of world currencies. Recommendations were submitted by the Steering Committee to the Treasury Secretary for concept approval, announced in July 1994. Beginning in 1996, new designs will be issued by denomination approximately one per year, starting with the $100 bill. Future new design efforts will include input from the recently founded Securities Technology Institute (STI) at Johns Hopkins Applied Physics Laboratory. Input will include evaluation of existing features, development of new techniques and adversarial analysis.