Errors in production of new $100 bills causes delays, costs more money

Creasing problems in the newly redesigned $100 bill have prompted the quarantine of many of the bills and could result in the destruction of hundreds of billions of dollars in flawed cash, potentially incurring additional costs and disrupting the money supply chain.

The $100 bill is undergoing a makeover that is intended to enhance its security features and prevent counterfeiting. However, the government is reporting now that because of manufacturing errors, a whopping 1.1 billion $100 bills will be scrutinized to ensure that the supply chain blunder did not render the bills completely useless.

Previously scheduled to go into circulation in early February, the currency is currently undergoing an extensive examination to determine how much of the currency will be destroyed and will most likely be released at a later date as a result of the supply problems. The supply chain mishap occurred in early October during the production of the bills, according to the Fed, but the magnitude of the problem was initially unknown.

According to the LA Times "Money" blog, the government is anxious to get the notes into circulation because the $100 bill is most commonly targeted by counterfeiters around the world. The new security features on the bill include a 3-D security ribbon, raised printing on Benjamin Franklin's shoulder and an image of the Liberty Bell in his inkwell.