John says the banks then send the bills to the Federal Reserve where special equipment is used to test them. "If you've folded up the bill or crumbled it or written on it or if it's worn out, they'll replace it." One of the main bits of tracking data the Federal Reserve relies on to determine demand is called "destruction." "Whenever you spend any cash and deposit it at the bank, the bank looks at it to determine whether it's fit to return to circulation or not," Bennardo says. "They put together their print order annually and they put that through to the Bureau of Engraving and Printing who makes the money." "The Federal Reserve has all kinds of tracking data they accumulate, he says. Instead, most printing is based on a calculation of supply and demand. The bicentennial bills turned out really nice. A little too nice, actually, "The way it looked, it was just so beautiful that people said this is a collector’s item, this is worth something more than $2. It would order the Bureau to print a special bill for the country's bicentennial, with a big picture of the signing of the Declaration of Independence on the back. "They made 400 million of them and half as many ones," Bennardo says. In 1976, the Treasury decided it would take another shot at the $2 bill. Bureau of Engraving and Printing presses upwards of 4 billion $1 bills a year, that adds up to a lot of. Today, for example, it costs about 5 cents to make a dollar … and it costs the same amount to make a 2. "You can print half as many twos and get the same dollar amount." "It’s more cost-efficient to print twos instead of ones," Bennardo says. It often indicates a user profile.īut here's the thing, the $2 bill saved the government a bunch of money.
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