US government forced to burn $3 billion in faulty banknotes

US government forced to burn $3 billion in faulty banknotes

The US Federal Reserve has hit another snag in its effort to roll out a redesigned $100 bill . Having already been delayed multiple times by production issues, the new banknote was expected to finally enter circulation this October, but inspections by the Fed have uncovered a fresh printing issue. As The New Yorker reports , some of the new notes have received an excess of ink, rendering them “clearly unacceptable” in the judgment of Larry Felix, Director of the Bureau of Engraving and Printing (BEP). Because the imperfect currency is already intermixed with properly printed notes, the only solution has been to consign the full batch of 30 million bills to the incinerator and start over

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US government forced to burn $3 billion in faulty banknotes

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