The Yahoo Finance! reported on August 15, 2013, that an ink error resulted in a total of 30 million new $100 bills being destroyed.
The printing error known as “mashing” (too much ink applied to the paper) made the whole batch useless.
A spokesman from the Bureau of Engraving and Printing (BEP) told that the recent batches of cash from the plant in Washington, D.C. contained bills which were unacceptable intermixed with passable ones.
The Fed is returning $100 notes worth more than 30 million. Fed officials have informed the bureau that they will any $100 notes made at the facility in Washington, D.C., will not be accepted until further notice. A batch of 30 billion dollars’ worth of paper is sitting in limbo awaiting examination.
The recent error was not the only screw-up to plague the federal reserve. Recently another set of bills had to be destroyed as they were printed with a black spot and about a year back, a lot of newly printed bills were stolen.
The spokesman from the BEP said that the issue is under investigation to determine the exact cause. The $100 notes returned to the Bureau is expected to have only a marginal fraction of the faulty notes.
via Examiner National Edition Gadgets & Tech Channel Articles http://www.examiner.com/article/new-100-bills-30-million-new-100-bills-to-be-destroyed?cid=roadrunner