US Banknote Production in July Hits 566.4 Million

by CoinNews.net on August 25, 2017 · 0 comments

heap of dollars, money backgroundU.S. paper money production picked up modestly in July after slowing to a four-month low in June, according to data published late last week by the agency responsible for printing American currency.

The Bureau of Engraving and Printing (BEP) produced 566.4 million banknotes last month for a total value of more than $13.1 billion. By comparison, June levels registered at 547.52 million notes worth over $13.2 billion.

In percentage breakdowns, July saw 3.5% more notes than June for a combined 0.4% lower value. In other month-over-month comparisons, there were:

  • 11.1% more $1s,
  • 14.3% more $5s,
  • 25% fewer $10s, and
  • 0.2% fewer $20s.

The number of $100s matched in both months. The BEP did not make $50s for a sixth month in a row after six straight months of pressing them. Also, $2s have not been printed since July 2016, 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 fell 3.3% from 585,920,000 and their total value dipped 0.7% from $13,278,400,000.

BEP FY 2017 Production

The BEP produced 5,667,840,000 notes since the start of its new fiscal year on Oct. 1. About 1.44 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.

July 2017 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, July 2017

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, July 2017

The BEP produced 6.4 million in $1 star notes. 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

July 2017

Banknotes Total Printed Total Value ($)
$1.00 192,000,000 192,000,000
$2.00
$5.00 102,400,000 512,000,000
$10.00 38,400,000 384,000,000
$20.00 140,800,000 2,816,000,000
$50.00
$100.00 92,800,000 9,280,000,000
Totals 566,400,000 13,184,000,000

 

For comparison, four previous monthly money production tables follow.

June 2017

Banknotes Total Printed Total Value ($)
$1.00 172,800,000 172,800,000
$2.00
$5.00 89,600,000 448,000,000
$10.00 51,200,000 512,000,000
$20.00 141,120,000 2,822,400,000
$50.00
$100.00 92,800,000 9,280,000,000
Totals 547,520,000 13,235,200,000

 

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

 

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

 

Federal Reserve data indicates that there was approximately $1.56 trillion in circulation as of July 12, 2017, of which $1.52 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.

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