Hundreds of New $100 Bills to be Shredded

Mottos for the new $100 may include:
* Not coming soon to a bank near you.
* It has blank spots, just like the US economy.
* When governments and printing presses collide.
* We couldn’t even get this right.
* We ran out of blank checks, so we had to print blank Benjamins.
* It’s okay, we’ll print another trillion.
* It was a glitch, beeatch.

Thanks to a production glitch, the government has to weed out and shred millions of new $100 bills that were printed with blank spots. From the Boston Globe:

The US government said it is still trying to identify the source of the production glitch that forced it to postpone introducing the new $100 bill and could force it to shred hundreds of millions of error-ridden bills, printed on paper from a Western Massachusetts company.

The new “Benjamins” were originally scheduled to be introduced in February, but the government has indefinitely postponed the date until it can resolve the printing issues. In the meantime, the government plans to continuing using the current $100 bill design.

The government said it believes most of the 1.1 billion bills already printed can be salvaged, but any of the bills that were misprinted will have to be shredded. It costs roughly 12 cents to print each bill. The government said it doesn’t know precisely how many bills will have to be discarded yet or how much it will cost. The government will also have to segregate the bad bills from the good ones.

The production error occurred at both printing sites — one in Washington, D.C. and another in Texas. But the Bureau of Engraving said it caught the mistake before it shipped any of the currency to the Federal Reserve for wider distribution.

Whoops. Maybe the government can pawn off those misprinted Benjamins as stimulus money.

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