US Banknote Production Reaches 720.5 Million in September

by CoinNews.net on October 27, 2016 · 8 comments

heap of dollars, money backgroundBanknote production in September dipped from a month earlier but the combined value of the notes was higher, data from the agency that prints U.S. currency shows.

720.5 million in $1s, $5s, $10s, $20s, $50s, and $100s were printed last month for a combined value of about $16.8 billion, according to Bureau of Engraving and Printing (BEP) figures. The agency this month released data for August as well. Those figures show production levels of 720.67 million notes worth nearly $15.3 billion.

In month-over-month percentage comparisons, the BEP made 0.02% fewer banknotes while their combined value was 10.2% higher. In other monthly differences, there were:

  • 2% fewer $1s;
  • 16.2% fewer $20s;
  • 53.8% more $50s; and
  • 10.7% more $100s.

The number of $5s and $10s matched in both months. The BEP last made $2s in July, and it is not expected to make more for some time. The Federal Reserve noted that their FY 2016 order for $2s was enough to meet demand for "multiple years."

Compared to the same month a year earlier, the number of notes climbed 6.2% while their combined value fell 10.5%.

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.

September 2016 BEP Banknote Production

Facility at Washington, DC

bep-money-production-in-washington-dc-sept-2016

Facility at Fort Worth, TX

bep-money-production-in-fort-worth-tx-sept-2016

The BEP printed 3.7 million star notes, split across $1s and $100s. 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

September 2016

Banknotes Total Printed Total Value ($)
$1.00 314,100,000 314,100,000
$2.00
$5.00 76,800,000 384,000,000
$10.00 32,000,000 320,000,000
$20.00 134,400,000 2,688,000,000
$50.00 64,000,000 3,200,000,000
$100.00 99,200,000 9,920,000,000
Totals 720,500,000 16,826,100,000

 

For comparison, four previous monthly money production tables follow.

August 2016

Banknotes Total Printed Total Value ($)
$1.00 320,350,000 320,350,000
$2.00
$5.00 76,800,000 384,000,000
$10.00 32,000,000 320,000,000
$20.00 160,320,000 3,206,400,000
$50.00 41,600,000 2,080,000,000
$100.00 89,600,000 8,960,000,000
Totals 720,670,000 15,270,750,000

 

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

 

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

 

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 $1.48 trillion in circulation as of Oct. 2, 2016, of which $1.43 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 2017, the Fed ordered 7.1 billion banknotes.

{ 8 comments… read them below or add one }

Magerlee October 27, 2016 at 9:03 am

More fuel for the fire! LOL

Mammoth October 27, 2016 at 10:43 am

Printing your way to prosperity works – as long as you are still the world’s reserve currency.

Joe C. October 27, 2016 at 12:22 pm

They should stop making $100s and recall existing $100s. They are mostly used for moving illegal money activity around the world. Just look at the number of notes printed.

Munzen October 27, 2016 at 1:01 pm

Joe – I don’t know if the Treasury is considering that option yet, but a couple of independent advisors have recently recommended discontinuance.

Also the ECB is planning to phase out the €500 note for the same reason. However they don’t plan to eliminate €200 and €100 bills because some parts of the EU are still very cash-oriented.

Joe C. October 27, 2016 at 2:05 pm

Munzen,
Yes , I heard that. Also I think they were considering to stop making the $50. Probably won’t happen considering it only cost about 8 cents to print a bill.

Whistler October 27, 2016 at 3:52 pm

Joe, this wold be another shot @ financial privacy. No 50’s or 100’s what a joke, I know to stop ‘drugs” & for the children, while we ship a billion in ca$h to the Mullahs in Iran, yes the Government is l00king out for US! not

Seth Riesling October 27, 2016 at 8:34 pm

According to the BEP & US Treasury Department, 60 percent of all US banknotes (FRNs) are held by foreign governments & foreign individuals. It shows how powerful the US $ is as the world reserve currency.

-NumisDudeTX

Mammoth October 28, 2016 at 12:19 pm

Joe – Respectfully, I disagree with your assertion that $100 bills are ‘mostly used for moving illegal money.’

I am a law-abiding citizen and prefer cash transactions to electronic. With the ever-overbearing government insinuating itself more and more into our everyday lives, I feel that it is nobody else’s business what I spend my money on, nor do I believe they have the right to tax every single transaction.

$100 bills have a useful purpose.

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