‘It’s All About the Benjamins’
The second speaker at the Digital Printing in Government and Higher-Ed Conference conference was, for many, the most fascinating. Michael Wash, associate director and chief technology officer for the Bureau of Engraving and Printing (BEP), discussed the role of U.S. currency nationally and throughout the world.
Michael Wash, associate director and chief technology officer for the Bureau of Engraving and Printing.
“In the past, it was never easy to explain what I did and explain CMS … but now all I have to say is ‘I make money,’” he said, as attendees joined him in a good laugh.
Wash continued by explaining that U.S. currency is the most known and in-demand currency in the world, and therefore it is also the most counterfeited. With a simple inkjet printer, anyone can counterfeit bills — in fact, the $20 bill is the most counterfeited, he said, and 85-90% of them are created by young adults.
Because of the high demand for U.S. currency and widespread counterfeiting practices, the government agency constantly reassesses the security of the bills. The security features and design of the bills have changed significantly from the currency that was in circulation between 1928 to around 1990, Wash noted. Since then, the agency has added security features like embedded thread micro printing and watermarks.
The biggest change will come with the new $100 bill — which also happens to have the lowest counterfeit rate because of its pre-existing security features. Wash introduced the bill with a video that highlighted the technology that was designed to make it more secure than ever, with color shifting ink, security thread, a portrait watermark, 3D security ribbon and more. The new bill took 17 years to develop before it could be brought to production because of its high level of complexity.
Wash also mentioned that the BEP is under a court order to include a raised tactile feature on its currency to support the blind — and with 7 billion notes produced each year, this will be no small task.
Bob has served as editor of In-plant Impressions since October of 1994. Prior to that he served for three years as managing editor of Printing Impressions, a commercial printing publication. Mr. Neubauer is very active in the U.S. in-plant industry. He attends all the major in-plant conferences and has visited more than 180 in-plant operations around the world. He has given presentations to numerous in-plant groups in the U.S., Canada and Australia, including the Association of College and University Printers and the In-plant Printing and Mailing Association. He also coordinates the annual In-Print contest, co-sponsored by IPMA and In-plant Impressions.
