Get ready because your money is about to change. I mean, literally. The U.S. Treasury is undergoing a financial transformation. This consists of redesign of the $20, $10, and $5 bills. The Treasury is responsible for maintaining a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources effectively. The Bureau of Engraving & Printing is in charge of the Money Make-Over.
What’s the theme?
The chosen theme for this redesign (no clear indication as to when it will be available yet) is Women’s Rights Leaders and Historic Figures.
- $20 Note:The front of the new $20 will feature the portrait of Harriet Tubman, whose life was dedicated to fighting for liberty. The reverse of the new $20 will display The White House and an image of President Andrew Jackson.
- $10 Note:The reverse of the $10 will honor the heroes of the women’s suffrage movement and depict the March of 1913, a march for women’s suffrage from the U.S. Capitol to the steps of the Treasury Department.
- $5 Note:The reverse of the new $5 will highlight the historic events that occurred at the Lincoln Memorial and will include images of Marian Anderson, Eleanor Roosevelt and Martin Luther King Jr. The front of the new $5 will retain President Lincoln’s portrait.
Why do they have to redesign the currency?
There a few reason why currency redesign is important and necessary. The most important reason is to stay ahead of counterfeiting by adding the latest technology into each new redesign. It’s kind of like killing two birds with the same stone. We get a contemporary design and they get to incorporate new anti-counterfeiting features each time they upgrade the notes.
The Advanced Counterfeit Deterrence (ACD) program, established in July 1982, which also happens to be the year I was born. Go 1982! Well, anyway, it aims to monitor and communicate counterfeit deterrence issues to the Secretary of the Treasury. The ACD’s focus is to stay ahead of counterfeiting, which is the primary driver for currency redesign. The ACD recommends which note should be the next redesigned note.
If you want to see some of the past redesigns of U.S. notes (I’m talking 1800’s) click this link to check out the U.S. Treasury’s archive.