By Gary Collins/managing editor
This latest celebrity makeover you won’t see on TMZ, Access Hollywood or ET.
Longtime $5 bill frontman Abe Lincoln received the makeover on the redesigned $5 released by the Federal Reserve in March.
To combat the production of counterfeit bills, the U.S. Bureau of Engraving and Printing began a redesign of U.S. currency in 2003 releasing the $20 bill, followed by the $50 in 2004 and the $10 in 2006.
“The redesigned $5 bill’s enhanced security features help ensure we stay ahead of counterfeiters and protect your hard-earned money,” Michael Lambert, assistant director, division of Federal Reserve Bank operations and payment systems, said in a press release.
According to Bureau of Engraving and Printing stats, $61.4 million in counterfeit bills circulated through the U.S. in 2007.
“Because the $5 bill is used heavily in vending, self-service and transit fare card-machines, we began working with the manufacturers of those and other cash-oriented machines in 2006,” Pamela Gardiner, deputy director of the Bureau of Engraving and Printing, said in a press release.
The older bills will keep their full value but will eventually be phased out as they age and are pulled out of circulation.
For more information about the redesigned $5 bill, check out www.moneyfactory.gov.
See below for enhanced security features on the new $5 bill.
Difference in New Bill
Watermarks: A larger 5 is located in the space to the right of Lincoln’s portrait. The second watermark is a row of three 5s.
Security Thread: The hidden security thread features a strip reading “USA 5” visible from both sides of the bill.
Added color: An enlarged purple 5 was added on the back with USA 5 USA 5 printed on the rim. The background behind Lincoln’s portrait and the Lincoln Memorial have a dab of purple added.
To the right of Lincoln and the Memorial are a series of yellow 05s.
