US Banknote Production in April Maintains Quickened Pace

by CoinNews.net on May 20, 2016 · 0 comments

US Money, 50 and 10U.S. money production in April picked up for a fourth straight month, ran the quickest since October, and finished ahead of figures from a year earlier, data from the agency responsible for printing American currency shows.

624 million in $1s, $5s, $10s, $20s, $50s and $100s were produced last month for a combined value of more than $15.7 billion, according to Bureau of Engraving and Printing (BEP) data published on May 11. In contrast, March levels logged in at 560.32 million notes worth just over $15 billion.

In other month-over-month comparisons, the BEP made 11.4% more banknotes for a 4.6% higher combined value. In other monthly differences, there were:

  • 8.3% fewer $5s;
  • 400% more $10s;
  • 10.9% more $20s; and
  • 2.9% fewer $100s.

The number of $1s matched between both months and presses for $2s were silent for a third month in a row after printing them for five straight months. The agency in April did produce 70.4 million in $50s. None were made in March for the first time in four months.

Compared to the same month last year, the number of notes rose 4.8% and their combined value edged up 1.2%.

Below are images of the BEP’s latest monthly production report. They show the type of banknotes manufactured at the agency’s two printing facilities.

April 2016 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, April 2016

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, April 2016

The BEP printed 6.4 million in star notes split evenly between $1s and $100s. Star notes are replacements for misprinted or damaged notes and for certain serial numbers like 000 000 000. Star notes have serial numbers that end with a star “*” designation, and are also so indicated by quantities in the images above. Money collectors usually find star notes more desirable since they can be harder 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

April 2016

Banknotes Total Printed Total Value ($)
$1.00 188,800,000 188,800,000
$2.00
$5.00 70,400,000 352,000,000
$10.00 64,000,000 640,000,000
$20.00 192,000,000 3,840,000,000
$50.00 3,200,000 160,000,000
$100.00 105,600,000 10,560,000,000
Totals 624,000,000 15,740,800,000

 

For comparison, four previous monthly money production tables follow.

March 2016

Banknotes Total Printed Total Value ($)
$1.00 188,800,000 188,800,000
$2.00
$5.00 76,800,000 384,000,000
$10.00 12,800,000 128,000,000
$20.00 173,120,000 3,462,400,000
$50.00
$100.00 108,800,000 10,880,000,000
Totals 560,320,000 15,043,200,000

 

February 2016

Banknotes Total Printed Total Value ($)
$1.00 147,200,000 147,200,000
$2.00
$5.00 64,000,000 320,000,000
$10.00 38,400,000 384,000,000
$20.00 153,600,000 3,072,000,000
$50.00 35,200,000 1,760,000,000
$100.00 83,200,000 8,320,000,000
Totals 521,600,000 14,003,200,000

 

January 2016

Banknotes Total Printed Total Value ($)
$1.00 147,200,000 147,200,000
$2.00 32,000,000 64,000,000
$5.00 57,600,000 288,000,000
$10.00
$20.00 182,400,000 3,648,000,000
$50.00 41,600,000 2,080,000,000
$100.00 57,600,000 5,760,000,000
Totals 518,400,000 11,987,200,000

 

December 2015

Banknotes Total Printed Total Value ($)
$1.00 147,200,000 147,200,000
$2.00 7,600,000 15,200,000
$5.00 44,800,000 224,000,000
$10.00
$20.00 166,400,000 3,328,000,000
$50.00 28,800,000 1,440,000,000
$100.00 67,200,000 6,720,000,000
Totals 462,000,000 11,874,400,000

 

As a perspective, the BEP in FY 2015 delivered about 7 billion notes at an average cost of 10 cents each, and needed about 8.7 tons of ink each day to print them. More than 90% of the banknotes printed are for replacing those already in, or taken out of circulation.

As an aside and according to data from the Federal Reserve, there was approximately $1.45 trillion in circulation as of April 6, 2016, of which $1.4 trillion was in Federal Reserve notes.

The BEP operates on a fiscal year that begins on October 1 and ends on September 30. For FY 2016, the Fed ordered 7.6 billion banknotes.

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