US Treasury Department unveils new ten-dollar bill

Thursday, September 29, 2005

A new redesigned US $10 bill was introduced at a ceremony yesterday on Ellis Island. The new bill adds three new background colors; red, yellow and orange. It continues to feature Alexander Hamilton, the first Treasury Secretary. The $10 bill is the third US bill to switch from the traditional green. The $20 and $50 bills were redesigned to feature color within the past two years.

The improvements in digital technology have made it much easier for counterfeiters. "Ten years ago, 1 percent of (counterfeit) bills were produced on digital equipment. These days, 56 percent are produced on digital equipment, and the technology is more accessible to the general population," said Eric Zahren, spokesman for the Secret Service.

According to the Treasury Department, to be able to keep ahead of counterfeiters currency will need to continue to be updated every seven to ten years. The $10 bill was last redesigned in 2000. "The intention was not to create a counterfeit-proof note—which is basically impossible—but one that's harder to duplicate and easier to authenticate," said Zahren. This new bill includes many new and enhanced security features such as color-shifting ink, a watermark, microprinting and a security thread

Dawn Haley of the Bureau of Engraving and Printing said in a statement "The new $10 note design continues the U.S. Government's efforts to make our currency safer, smarter, and more secure." The new $10 bill is expected to go into circulation in early 2006.