Printing Error Botches New $100 Bills, Could Cost Taxpayers $4 Million
The Bureau of Engraving and Printing is reinspecting 30 million brand new $100 bills after the Federal Reserve deemed them unusable because of a printing error.
After a decade of research and development, the so-called money factory designed a new Benjamin that should have been released hands in 2011.
"It's certainly one of the most valuable bills to counterfeit," said Benjamin Mazzotta, a currency expert at [The Fletcher School at] Tufts University.
The mint was supposed to print a new design back in 2011. But they keep botching the bill. The first batch ended up with a blank spot, and the second round was lifted by thieves on their way to the Federal Reserve, and now there is a problem with excess ink.
"Ironically it appears to be any of those advanced features themselves which are causing the problem. It's the way the paper they are using for this generation of printing is responding to the weight of the printing press," said Mazzotta.
Watch the interview