US Government Prints 1.05 Billion Banknotes in October 2014

by CoinNews.net on November 14, 2014 · 2 comments

US $50s

The United States government printed more than 1 billion banknotes in a month for the first time in over a year, data from the agency responsible for producing U.S. currency shows.

1,053,056,000 in $1s, $5s, $10s, $20s, $50s and $100s were made in October for a total value of $17.28 billion, according to Bureau of Engraving and Printing (BEP) monthly production figures published on Nov. 10.

The monthly amount was the most since nearly 1.2 billion notes were printed in September 2013. The combined value was also the highest since that month when it soared to over $65.7 billion — lifted mostly by a large amount of $100s.

In month-over-month comparisons, October saw 116.2% more notes than in September and their combined value was 255.7% higher. By denomination, there were:

  • 50% more $1s;
  • 19% fewer $5s;
  • 260% more $10s; and
  • 353.8% more $20s; and
  • 46.5% more $100s

In other notables:

  • 50s were produced in October after they were skipped in September for the first time since March.
  • In June, $2s appeared for the first time since November. Presses have been silent for them since.

Here are images of the BEP report showing the type of banknotes manufactured during the month:

October 2014 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, October 2014

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, October 2014

In October, the BEP printed 256,000 $100 star notes. These are indicated by the "*" designator in the production chart directly above. Star notes are replacements for misprinted notes or certain serial numbers, like 000 000 000. Money collectors find them more desirable since they are rarer, making them difficult to find.

The following table lists the type, the amount and the total value of banknotes printed by the BEP for the month:

Banknotes by Denomination: Total Printed and Values

October 2014

Banknotes Total Printed Total Value ($)
$1.00 326,400,000 326,400,000
$2.00
$5.00 108,800,000 544,000,000
$10.00 115,200,000 1,152,000,000
$20.00 377,600,000 7,552,000,000
$50.00 96,000,000 4,800,000,000
$100.00 29,056,000 2,905,600,000
Totals 1,053,056,000 17,280,000,000

 

As a perspective, the BEP in Fiscal Year 2013 manufactured about 26 million banknotes a day with a face value of about $1.3 billion. Approximately 6.6 billion notes went out at an average cost of 10 cents per banknote. The BEP notes that more than 90% of paper notes printed each year are to replace those already in, or taken out of circulation.

For comparison, four previous monthly money production tables follow.

September 2014

Banknotes Total Printed Total Value ($)
$1.00 217,600,000 217,600,000
$2.00
$5.00 134,400,000 672,000,000
$10.00 32,000,000 320,000,000
$20.00 83,200,000 1,664,000,000
$50.00
$100.00 19,840,000 1,984,000,000
Totals 487,040,000 4,857,600,000

August 2014

Banknotes Total Printed Total Value ($)
$1.00 224,000,000 224,000,000
$2.00
$5.00 115,200,000 576,000,000
$10.00 32,000,000 320,000,000
$20.00 153,600,000 3,072,000,000
$50.00 16,000,000 800,000,000
$100.00 35,200,000 3,520,000,000
Totals 576,000,000 8,512,000,000

July 2014

Banknotes Total Printed Total Value ($)
$1.00 163,200,000 163,200,000
$2.00
$5.00 76,800,000 384,000,000
$10.00 38,400,000 384,000,000
$20.00 154,240,000 3,084,800,000
$50.00 64,640,000 3,232,000,000
$100.00 38,400,000 3,840,000,000
Totals 535,680,000 11,088,000,000

June 2014

Banknotes Total Printed Total Value ($)
$1.00 134,400,000 134,400,000
$2.00 12,800,000 25,600,000
$5.00 80,000,000 400,000,000
$10.00 38,400,000 384,000,000
$20.00 153,600,000 3,072,000,000
$50.00 64,000,000 3,200,000,000
$100.00 44,800,000 4,480,000,000
Totals 528,000,000 11,696,000,000

 

{ 2 comments… read them below or add one }

Barry November 14, 2014 at 11:28 am

Consider buying some silver / gold as there is little backing all these new banknotes.

Boz November 14, 2014 at 2:08 pm

If you believe that 90% are replacements then I have a bridge in Arizona to sell you. And this doesn’t count the non-currency loans, grants, and other transactions out there each month. Is the economy actually growing by this amount or is the county using funny money to cover obligations to veterans and seniors it has no intention of ever making good on.

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