News

Redesigned $10 note on the way

April 4, 2005

WASHINGTON - Much like the redesigned $20 and $50 notes that have been issued over the last two years, the $10 denomination will be the next note slated for a make-over by the Treasury's Bureau of Engraving and Printing. According to a news release, the newly designed $10 note is scheduled to be issued by the Federal Reserve in early 2006. Similar to the new $20 and $50 notes' designs, the updated $10 note will feature enhanced security features, subtle background colors and American symbols of freedom. The new design of the $10 note is scheduled to be unveiled in late 2005. The BEP has begun working with cash-handling equipment manufacturers to prepare that industry for the note's new design. This advance information allows the makers of vending machines, ATMs and other machines that receive and dispense cash to make technical adjustments to their equipment before the note goes into circulation. As with previous currency redesigns, the BEP will provide manufacturers with test notes and specifications about six months in advance of the note's entry into circulation. "The BEP is working hard to ensure that the transition of the newly redesigned $10 note is as smooth as that of the $20 and $50 notes," said Tom Ferguson, director of the BEP. "We have worked closely with the cash-handling equipment manufacturers throughout the new currency program so that they have the information they need to ensure their machines accept the new bills." The $100 note is also slated to be redesigned, but a timetable for its introduction is not yet set. The government has no plans to redesign the $5 note at this time, and the $1 and $2 notes will not be redesigned.