Printing Blunder Leaves Federal Reserve Seeing Red
WASHINGTON, DC—The long-awaited, redesigned $100 bill will have to wait a little longer because of repeated printing errors, the latest of which could cause at least 30 million notes to be trashed, The New Yorker reported.
Some of the bills, printed by the Bureau of Engraving and Printing, appear to suffer from mashing. Produced at the Bureau's printing facility here, the over-inked bills are mixed in with passable examples, according to a memo from Bureau director Larry Felix to employees. The Federal Reserve is asking for a refund, and another $30 billion worth of bills are awaiting inspection, according to The New Yorker.
Federal officials have informed the Bureau that it will not accept any $100 bills produced at the DC plant until further notice.
The $100 bills, loaded with new security features, were slated for a 2011 release but an earlier printing error left the money with blank spots. The Bureau has an Oct. 8 deadline to deliver this year's cash order and get the $100 bill into circulation. The production now falls on the shoulders of the Bureau's Fort Worth, TX, printing facility.