The U.S. government is holding onto more than a billion newly designed $100 bills after a problem arose during the printing process.
The Federal Reserve, which issues America's currency, initially scheduled release of the bills next year. They are a part of the staggered release of different U.S. denominations of paper currency that have new high-tech security features to combat counterfeiters.
Officials say 1.1 billion new $100 bills suffered from “sporadic creasing” of the paper during printing, causing them to fail quality control. The U.S. Bureau of Engraving and Printing, which manufactures U.S. banknotes, said it did not notice the problem during extensive pre-production testing and is working to figure out what caused the problem.
It is not clear when the government will release the redesigned bill.
The new $100 bills are the most expensive to make, costing 12 cents each.
The new design retains the traditional look of the existing $100 bill with Benjamin Franklin's enlarged portrait. However, the new bills incorporate a blue three-dimensional security ribbon and a color-changing image of a bell on the front.
Experts say the $100 note is the most counterfeited denomination of U.S. currency outside the U.S. due to its wide circulation. VOANews
