OPINION: Come February 2011 the one-hundred dollar bill will have be sporting a different look in order to prevent counterfeits. While this may seem like a good idea, there are a few flaws.
According to the Federal Reserve, the face of Benjamin Franklin will still be the same size but, “the images have been modified in ways aimed at making it harder to produce counterfeit copies.”
A new security ribbon has been added so that when you tilt the bill back and forth, you will see tiny bells on the ribbon change to '100s' as they move.
Another new addition to the bill will be an inkwell that will change color from copper to green when tilted, with the Liberty Bell appearing and disappearing. These are great ways to try and prevent counterfeit copies from being made, but there are still some things that need to be considered.
This new makeover project for the $100 bill has been brought to the public's attention in too much detail. The news of the new bill has even been covered in the AM NY newspaper; giving too much information about this could obviously fall into the wrong hands.
How can we be sure that this new bill won’t be copied as well? The second thing to remember is that the $100 bill has already had multiple modifications done to its appearance in the past. Clearly, these modifications have been copied and counterfeit copies have been made otherwise, so there is no need to keep modifying the bill.
The third thing to consider in all of this is our economy. We are trillions of dollars in debt. Is this really the time to be spending money on making new bills? What good will this do if people don’t even have enough of the regular bills to get by?
With all of these questions about the modification of the $100 bill, the entire makeover should be put on hold. If it does need to be done then the question is, why?
There will be counterfeit bills made regardless of all of the modifications. There will always be someone who finds a way to do it. It is a waste of time and money that we don’t even have right now to give the $100 bill a makeover. Let’s fix our economy first. Sorry, Ben. Or should I say, Poor Richard.