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March 2 chosen for $10 release

New10A0511.jpgRelease to circulation of the newly redesigned Series 2004A $10 Federal Reserve Note will begin March 2, 2006.

As of that date, Federal Reserve banks will begin distributing the notes with added colors and design features to the public through U.S. commercial banks. Release worldwide will follow.

?As always, you don?t have to trade in your old $10 notes for new ones. Both new notes and old notes maintain their full face value,? said Federal Reserve Board Assistant Director of Reserve Bank Operations and Payment Systems Michael Lambert.

New to the $10, which is third in what has been called the NexGen series of design, are images of the Statue of Liberty?s torch and the words ?We the People? from the U.S. Constitution, as well as subtle background colors, in shades of orange, yellow and red.

Like the redesigned NexGen $20 and $50 that preceded it in 2003 and 2004, the new $10 incorporates updated security features to thwart counterfeiting, including color-shifting ink, a security thread and a watermark. The area of the watermark has been designated more clearly on the $10 than on the NexGen $20s and $50s currently circulating.

?We expect to update currency every seven to ten years in order to stay ahead of the latest digital technology available to would-be counterfeiters,? said Bureau of Engraving and Printing Director Tom Ferguson.

The $100 note will be the next denomination to be redesigned, with release expected about a year after that of the $10. The government currently has no plans to redesign the $5, and repeatedly states that $1 and $2 notes will not be redesigned.

The U.S. Treasury and Federal Reserve made the $10 release date announcement Dec. 2. Though the announcement said the new $10 would be dated Series 2004, the BEP has confirmed that the notes introduced will be dated Series 2004A as was seen on images of the new $10 unveiled Sept. 28.
The announcement is a signal to retail businesses, banks and cash machine operators to undertake any final preparations and training. Free educational materials are available online at www.moneyfactory.gov/newmoney.

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