US Banknote Production in May Highest in Seven Months

by CoinNews.net on June 23, 2017 · 0 comments

US Money, 50 and 10U.S. paper money production climbed for a third straight month, ran the quickest in seven months, and outpaced figures from a year earlier, data from the agency responsible for printing American currency shows.

The Bureau of Engraving and Printing (BEP) produced 634.56 million banknotes in May, the most since October, for a combined value of $18.1312 billion. By comparison, April levels tracked at 633.92 million notes worth $17.096 billion.

In percentage breakdowns, May saw 0.1% more notes than April for a 6.1% higher combined value. In other month-over-month comparisons, there were:

  • 11.1% fewer $1s,
  • 9.5% fewer $5s,
  • 33.3% more $10s,
  • 7.9% more $20s, and
  • 5.5% more $100s.

The BEP did not make $50s for a fourth month in a row after six straight months of pressing them. Also, $2s have not been printed since July, and more are not expected 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 in 2016, the number of notes is 4.8% higher from 605,440,000 while their total value is 42.7% higher from $12,710,400,000.

BEP FY 2017 Production

The BEP has produced 4,553,920,000 notes since the start of its new fiscal year on Oct. 1. Nearly 2.6 billion more will be printed through September as the Fed ordered 7.1 billion banknotes for FY 2017.

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.

May 2017 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, May 2017

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, May 2017

The BEP produced 960,000 star notes with 320,000 of them in $20s and 640,000 of them in $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 are 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

May 2017

Banknotes Total Printed Total Value ($)
$1.00 204,800,000 204,800,000
$2.00
$5.00 64,000,000 320,000,000
$10.00 51,200,000 512,000,000
$20.00 179,520,000 3,590,400,000
$50.00
$100.00 135,040,000 13,504,000,000
Totals 634,560,000 18,131,200,000

 

For comparison, four previous monthly money production tables follow.

April 2017

Banknotes Total Printed Total Value ($)
$1.00 230,400,000 230,400,000
$2.00
$5.00 70,720,000 353,600,000
$10.00 38,400,000 384,000,000
$20.00 166,400,000 3,328,000,000
$50.00
$100.00 128,000,000 12,800,000,000
Totals 633,920,000 17,096,000,000

 

March 2017

Banknotes Total Printed Total Value ($)
$1.00 204,800,000 204,800,000
$2.00
$5.00 70,400,000 352,000,000
$10.00 38,400,000 384,000,000
$20.00 166,400,000 3,328,000,000
$50.00
$100.00 99,200,000 9,920,000,000
Totals 579,200,000 14,188,800,000

 

February 2017

Banknotes Total Printed Total Value ($)
$1.00 172,800,000 172,800,000
$2.00
$5.00 64,000,000 320,000,000
$10.00 41,600,000 416,000,000
$20.00 140,800,000 2,816,000,000
$50.00
$100.00 92,800,000 9,280,000,000
Totals 512,000,000 13,004,800,000

 

January 2017

Banknotes Total Printed Total Value ($)
$1.00 166,400,000 166,400,000
$2.00
$5.00 80,000,000 400,000,000
$10.00
$20.00 140,800,000 2,816,000,000
$50.00 76,800,000 3,840,000,000
$100.00 92,800,000 9,280,000,000
Totals 556,800,000 16,502,400,000

 

Federal Reserve data indicates that there was approximately $1.54 trillion in circulation as of April 5, 2017, of which $1.49 trillion was in Federal Reserve notes.

"Recent estimates show that between one-half and two-thirds of the value of U.S. currency in circulation is held abroad," the BEP notes.

As a perspective, the BEP in FY 2016 delivered its 7.6 billion notes at an average cost of 10 cents each. More than 90% of those printed were for replacing those already in, or taken out of circulation.

{ 0 comments… add one now }

Leave a Comment