U.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 $16.8 billion.
BEP FY 2017 Production
Below are images of the BEP’s latest monthly production report. They show the type of banknotes manufactured at the agency’s two printing facilities.
September 2017 BEP Banknote Production
Facility at Washington, DC
Facility at Fort Worth, TX
The following table lists the type, the amount and the total value of banknotes printed by the BEP for the month:
Banknotes by Denomination: Total Printed and Values
September 2017
| Banknotes | Total Printed | Total Value ($) |
| $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.
