The practice of counterfeiting American currency is already pretty low. Richard Fisher, president of the Federal Reserve Bank of Dallas, says only 0.01 percent of all $100 bills are counterfeited. But there’s no harm in making it even harder, especially since the $100 bill is the most widely circulated — and the most often counterfeited — U.S. dollar bill worldwide.
Front of the 2013 $100 bill redesign
“We estimate that nearly two-thirds of the $100 bills circulate outside of the United States. That’s a face value of roughly $870 billion, or 8.7 billion $100 bills circulate outside of the United States. And this is why it’s important for our nation to stay ahead of counterfeiting and maintain the integrity of our currency.”
The last time the $100 bill was redesigned was in 1996. The newest bill features a blue 3-D security ribbon and a color-shifting bell in an inkwell. As with other more recently redesigned U.S. currency — from the $5 to the $50 – the new Franklin has also more color added to it.
The 12 different Federal Reserve districts started circulating the new bills on Tuesday.
Back of the 2013 $100 bill redesign
“And I think it’s a matter of where you’re located as to when you can walk into a bank, I certainly expect that by the end of the week, anybody will have access to these new $100 bills.”
There’s no need to trade in your old $100 bills for new ones. The Fed has never devalued currency when updated bills were issued, and the old ones will slowly be sorted out over time.