$100 Bill Incorrectly Printed, Could Take 20-30 Years to Sort by Hand
The $100 bill perhaps isn't meant to be high-tech. According to a CNBC report, more than one billion $100 bills were printed incorrectly by the Federal Reserve and Treasury.
The production problem caused the goverment to shut down the production of these new $100 bills. The printed bills are now stored in vaults in Fort Worth, Texas and Washington.
Scheduled for release in February 2010 before they were incorrectly printed, the U.S. government announced the new, high-tech $100 bill back in April. These new bills would feature security aspects, such as a 3D security strip and color-shifting image of a bell.
According to DailyFinance.com, the government has already printed 1.1 billion of these new $100 bills, and that "the total face value of these bills is $110 billion, more than 10% of the entire physical supply of U.S. currency."
"There is something drastically wrong here," a person familiar with the situation of the $100 bill told CNBC. "The frustration level is off the charts."
The origin of the problem had to do with the paper being creased, causing parts of the bill to be left blank during the printing process, CNBC reported.
An estimated thirty percent of the bills were printed improperly; however, because officials don't know exactly which and how many of the 1.1 bills printed were flawed, the $100 bills are currently held in the vaults until the government develops a system to sort the faulty bills from the usable ones.
MSNBC reported that sorting the bills by hand could take decades to finish:
Sorting such a huge quantity of bills by hand, the officials estimate, could take between 20 and 30 years. Using a mechanized system, they think they could sort the massive pile of bills, each of which features the familiar image of Benjamin Franklin on the face, in about one year.
What do you think about this mechanical error in printing the $100 bills?