US Banknote Production Reaches 585.9 Million in July

by CoinNews.net on August 30, 2016 · 0 comments

Piles of $100sThere were fewer banknotes produced in July than in any month since March, data from the agency that prints U.S. currency shows.

585.9 million across $1s, $2s, $5s, $10s, $20s and $100s were printed last month for a combined value topping $13.2 billion, according to Bureau of Engraving and Printing (BEP) figures. Conversely, July levels tagged in at 656 million notes, the most since October, worth over $13.6 billion.

In percentage comparisons from the previous month, the BEP made 10.7% fewer banknotes accounting for a 2.6% reduction in total value. In other monthly differences, there were:

  • 21.8% fewer $1s;
  • 27.3% more $2s;
  • 0.4% more $5s;
  • 30% fewer $10s; and
  • 4.8% fewer $20s.

$50s were not made for a second month in a row while the number of $100s matched the previous month. Compared to the same month a year earlier, the number of notes climbed 3.4% while their combined value fell 32.9% as a result of fewer $100s.

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.

July 2016 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, July 2016

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, July 2016

The BEP printed 3.52 million star notes, split across $1s and $5s. Star notes are replacements for misprinted or damaged notes and for certain serial numbers like 000 000 000. They 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

July 2016

Banknotes Total Printed Total Value ($)
$1.00 195,200,000 195,200,000
$2.00 44,800,000 89,600,000
$5.00 77,120,000 385,600,000
$10.00 44,800,000 448,000,000
$20.00 128,000,000 2,560,000,000
$50.00
$100.00 96,000,000 9,600,000,000
Totals 585,920,000 13,278,400,000

 

For comparison, four previous monthly money production tables follow.

June 2016

Banknotes Total Printed Total Value ($)
$1.00 249,600,000 249,600,000
$2.00 35,200,000 70,400,000
$5.00 76,800,000 384,000,000
$10.00 64,000,000 640,000,000
$20.00 134,400,000 2,688,000,000
$50.00
$100.00 96,000,000 9,600,000,000
Totals 656,000,000 13,632,000,000

 

May 2016

Banknotes Total Printed Total Value ($)
$1.00 204,800,000 204,800,000
$2.00 44,800,000 89,600,000
$5.00 70,400,000 352,000,000
$10.00 64,000,000 640,000,000
$20.00 128,000,000 2,560,000,000
$50.00 9,600,000 480,000,000
$100.00 83,840,000 8,384,000,000
Totals 605,440,000 12,710,400,000

 

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

 

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

 

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.

According to data from the Federal Reserve, there was approximately $1.46 trillion in circulation as of June 1, 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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