US Banknote Production in September Quickest Since October 2016

by CoinNews.net on October 27, 2017 · 3 comments

Different american dollars banknotes close-up. Background  textureU.S. paper money production in September ran the quickest for a month in almost a year — thanks in large part to a sharp increase in $1s, according to data published by the agency responsible for printing American currency.

The Bureau of Engraving and Printing (BEP) produced 646.4 million banknotes last month, the most since October 2016, for a combined value of more than $14.7 billion. By comparison, August levels reached 557.05 million notes worth over $16.1 billion.

In percentage breakdowns, September saw 16% more notes than August but their combined value was 8.4% lower. In other month-over-month comparisons, there were:

  • 56.1% more $1s,
  • 19% fewer $20s,
  • 150% more $50s, and
  • 15.8% fewer $100s.

At 320 million, the number of $1s printed was the highest since August 2016 when 20.35 million were made. $10s were not printed for a second month in a row after having been made in the previous six months. $2s have not 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 10.3% from 720.5 million and their total value was 12.3% lower from $16.8 billion.

BEP FY 2017 Production

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 2017 BEP Banknote Production

Facility at Washington, DC

BEP Money Production in Washington DC, September 2017

Facility at Fort Worth, TX

BEP Money Production in Fort Worth TX, September 2017

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 2017

Banknotes Total Printed Total Value ($)
$1.00 320,000,000 320,000,000
$2.00
$5.00 83,200,000 416,000,000
$10.00
$20.00 108,800,000 2,176,000,000
$50.00 32,000,000 1,600,000,000
$100.00 102,400,000 10,240,000,000
Totals 646,400,000 14,752,000,000

 

For comparison, four previous monthly money production tables follow.

August 2017

Banknotes Total Printed Total Value ($)
$1.00 205,050,000 205,050,000
$2.00
$5.00 83,200,000 416,000,000
$10.00
$20.00 134,400,000 2,688,000,000
$50.00 12,800,000 640,000,000
$100.00 121,600,000 12,160,000,000
Totals 557,050,000 16,109,050,000

 

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

 

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

 

Federal Reserve data indicates that there was approximately $1.58 trillion in circulation as of Sept. 20, 2017, of which $1.53 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 produced 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.

{ 3 comments… read them below or add one }

Joe Brown October 27, 2017 at 3:15 pm

just keep spitting that stuff out. $2 & $5 bills have always been my favorite, my God* Mother* always gave me a $2 & $5 for Easter*+* & my birthday some with different color seals very spacial to me. They have not made $2 bills sent,s 2016, but they are going to print more in the future, why not make them completely obsolete & print no more. Maybe it’s nickel & dime to them to print them, but they are wasting money they don’t have for a bill we do not use. All these wasted nickel & dimes add up.

Munzen October 27, 2017 at 10:15 pm

IF our government ever comes to its senses and stops wasting money making $1 bills in favor of using the billions of coins already in storage, $2 bills will become much more important by preventing the need for lots of $1 coins when making change. If you break a $5 bill you’d never need more than one $1 coin; the rest would be in twos. That goes a long way to blunting the naysayers’ scare-stories who claim we’d all have to carry pockets full of dollar coins.

Every other major country that got rid of its lowest-value bill in favor of a coin also has a widely-used $2 coin or its equivalent. I’ve visited maybe half a dozen of them and you almost never got more than one $1 coin in change, the rest was given in $2s.

Joe Brown October 28, 2017 at 12:11 pm

Muzen – yes that is 1 of the many very good options, at least with all the coins our Fed* Gov* mint,s they will always be worth something, from the zinc, nickel, copper, they use to mint our, 1 cent coin, 5 cent coin, the dime, 1/4, 1/2 dollar, & the golden dollar, all those coins have precious metal, the zinc, nickel, copper, we all can look it up each day to sea what a pond of that stuff goes for. If ever the bottom falls out from our Fed* Gov* all those green backs are worthless & take a look a how much it cost to print each green back its not cheap, and i, just me don’t think they can back up all those green backs they spit out. Our small change will always be worth something no matter what take place, those green backs will only be good for toilet paper, if you don,t have the coins to pay for it.

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