I used to run a business and as a joke my office wall featured a little plaque that read, “If it makes sense, it’s against company policy!” About a month ago I was sorting out my pocket change and stopped to frown at the pennies, nickels, dimes, and quarters for a moment. Then I glanced at a pile of currency comprised of ones, fives, tens, and twenties. It was then that I wondered why the United States produces a 25-cent coin but only a 20-dollar bill.
Wouldn’t it make more sense for the Bureau of Engraving and Printing to produce a 25-dollar bill? Using this method it would only take four “25s” to make 100 dollars instead of five 20s. For every four 25-dollar notes produced by the B.E.P. the country would save the expenditure of making one 20; effectively saving the nation 20% in the production costs involved.
The “twenty” is one of the most utilized forms of currency today, however the note has a shelf life due to wear and tear of only around two years at best. Most people don’t know that the Federal Reserve destroys 7,000 tons of no longer usable currency a year. With that kind of turnover, finding an excuse not to print one out of every five only makes sense to me.
On that note, (sorry for the pun) I would like to propose to the powers that be my own idea of what the “25” might look like.
There couldn’t possibly be that much controversy (especially among Native Americans remembering the "Trail of Tears") regarding retiring Andrew Jackson from U.S. paper currency — could there? Though I’ve done some extensive research on the subject, I’ve yet to determine what exactly motivated someone to propose his portrait to replace Grover Cleveland’s in 1928 in the first place. After all, this is the same Andrew Jackson who, in his farewell speech to the nation, stressed his opinions against paper money and in fact made it one of the goals of his administration to put the National Bank/the Bank of the United States/Federal Bank out of business.
Rather than go through congressional hearings and politicos’ ranting all over the radio waves for the next decade over who to replace him with, in the name of expediency and for the sake of argument, I chose to put someone who is already approved and appears on the 50-cent coin; namely President John F. Kennedy. This would cause a stir in some quarters, but the man did after all have his life taken from him during his service to his country, was a war hero, saved the nation from nuclear annihilation during the Cuban Missile Crisis, and did more than any other to get America into space and onto the moon. In my view that is reason enough.
Article comments
— go to most recent comments1 - El Bicho
interesting idea, but wouldn't producing one less bill as you suggest be countered by the need for more smaller bills to be produced to make change?
2 - roger nowosielski
I don't know about the size of the bill, Jet, old friend. But surely a Kennedy emblem is an idea whose time has definitely come.
Especially today when we're about to lose our national identity.
3 - Jet Gardner
Believe it or not I had to create the graphic for this almost pixes by pixel on MS Paintbrush and an old version of Corel Draw!!!
...which means I'm proud of it.
4 - Jet Gardner
NOt necessarily EB
5 - Jet Gardner
Thanks Roger-Can you see Limbaugh's reaction if he sees this?
6 - Miss Bob Etier
Tyvek! That's the answer!
Jet, with all the things happening on the surface of the note, the $25 bill would be more entertaining than nearly anything we could purchase with it.
7 - Lynn Voedisch
Since the Kennedy half dollar disappeared weeks after its minting, I'd hope that this bill would not be hoarded in the same way. We truly do need a memento of Kennedy. His legend was larger than life, and some say he was a better president dead than when he was alive (!), but he was uniquely American and a symbol of our country on the upswing.
I think it's a great idea.
8 - El Bicho
"Since the Kennedy half dollar disappeared weeks after its minting"
I see them in Vegas all the time
9 - Jet Gardner
Thanks Bob and Lynn-The Kennedy half nearly vanished the moment it was minted because it was snapped up by collectors virtually before it hit the streets.
For years afterward and to this day people still rarely use them because they're so scarce.
The '64-65 versions were minted in silver the year before the changeover to copper-nickel so they're quite collectible and off the streets
It came out months after he was assassinated
10 - Jet Gardner
No no EB. The original Kennedy half was the last "common" silver coin minted before it too went to Copper/nickel sandwich like the dime and the quarter.
It was minted mere months after he died which is why it vanished as people kept it as a momento. Also his hair was changed slightly for the new version so collectors went berserk.
JFKs death slammed this country hard and we were in a near dead stand still for months afterward...
11 - FCEtier
I often use a Kennedy half for the coin toss prior to football games. Surprisingly, the kids often notice.
12 - Jet Gardner
The Kennedy half dollar replaced the Franklin half dollar within three months of the assassination of President John F. Kennedy (nine years before the half-dollar would have otherwise been eligible for change). In fact, Gilroy Roberts, the former chief engraver of the mint, and Frank Gasparro, the current chief engraver at the time, designed the coin a mere five days after Kennedy's deathâ€"though the profile of Kennedy was the same one Roberts had used for Kennedy's inaugural medal two years earlier.
Ironically, the new Kennedy design caused the slow disappearance of the half-dollar as a regular mainstream circulating coin, through a series of unrelated events. First, collectors and even ordinary citizens hoarded the coins of 1964, due to the "new" design and because of sentiment for the late President Kennedy. In 1965 Lyndon Baines Johnson took the United States of America off the silver standard. Also, silver was no longer included in newly-minted dimes and quarters (which became copper-nickel clad), but remained in the half-dollar (but reduced from 90% to 40%). The older Franklin halves of 90% silver were quickly removed from circulation by collectors and hoarders, and since the public now hoarded silver coins, most of the 90% silver 1964s, as well as the 40% silver 1965-1970 halves, saw little circulation as well. By the time the Kennedy half dollar became regular copper-nickel clad in 1971, many banks and merchants were already used to no longer stocking and using the denomination as they were prior to 1964. The half dollar has always circulated to some extent, but has not at the level of circulation it had before 1964. Given the facts that the cash drawers of most merchants do not contain a place for quantities of half dollars, that most vending machines do not accept them, and that the dollar coin is smaller and is the subject of a push for acceptance, the half is likely to retain its limited circulation status.
When the 1964 proof coins were first minted, the "I" in "LIBERTY" had a truncated lower-left serif, and the hair above Kennedy’s ear was heavily incised. After approximately 120,000 coins were produced, the dies were revised and the hair smoothed slightly. Jacqueline Kennedy was thought to have disliked the earlier, "accented hair" version (as it came to be known), although the lower relief design might have also have been introduced to facilitate production.[1] Coins produced from the first die typically sell for about four times those from the later version. However, since a substantial number of the earlier coins seem to have been poorly struck, top quality specimens can fetch even higher prices.
After the 1964 coin's introduction (around the height of the cold war), the Denver Mint received a number of complaints that the base of Kennedy’s neck bore the hammer and sickle symbol. However, closer examination will reveal that the mark is actually a script form of the initials "GR": Gilroy Roberts’ monogram.[2]
In 1975 and 1976, the bicentennial half dollar was minted showing Independence Hall on the reverse. All of the bicentennial halves are dated "1776â€"1976." While the special half sparked some interest in the public, when the half returned to its regular design in 1977, it continued its decline in use and mintage. In some years the coins have not been released for normal circulation, but only in special mint rolls, mint sets, and proof sets for collectors (1970, 1987, 2001 {P only, D Was issued for circulation}, 2002 - 2004, 2006 - 2009). [3] This is due to the mint & Federal Reserve having a large stockpile inventory of previous years halves, still available for bank & commercial demand, probably in part due to U.S. casinos switching over to "coinless" slot machines & casino half-dollar chips, which were the last big commercial demand for half-dollars. As this stockpile dwindles down, new halves are again released for regular circulation, as is also occasionally done for US Dollar coins and United States two-dollar bills.
There is still some demand left for half dollars for use at casinos, where they can be used in paying off odd-dollar bets in blackjack and other games. For example, if a player gets "blackjack" at that game with a five-dollar bet, he or she is to be paid $7.50. Some casinos now use a fifty-cent casino chip. Half-dollars also see use in large venue cash-only retail transactions, such as stadium concession purchases where dollar amounts are rounded to dollars and half-dollars.
13 - Jet Gardner
Re #1 No more than making change for a $3.95 purchase with a $20 bill.
14 - Jeff Forsythe
My mum just launched me this and I was jolly well flabbergasted to know that she was a BC devotee. I post Kennedy halves to her throughout my travels in the states, as she is an avid collector. I had to make clear to her that the bespoke note was only a proposal and that it might not actually be produced.
She described your illustration as quite the bees knees.
Cheers then
Jeff
15 - Dr Dreadful
Says in your potted bio up top there, Jet, that you like to collect books, chess sets and music among other things. Seems to me you're no slouch when it comes to numismatics, either!
Great job on the Kennedy $25. (Now... hide! The Feds are coming!) I take it that your eye problems are sufficiently in remission for you to be able to use your graphic design skills to the full again. Good news.
16 - Jet Gardner
Thanks Jeff, and thank your "mum"
Did you "Americanize" your name? I thought the english spelled it differently?
17 - Jeff Forsythe
[Bursts out in a lovely giggle] My father’s ancestry is entrenched in America which I suppose makes me a yank in some ways eh? With the adverse possibility of sounding quite posh I remain
Jeffrey IV ;)
18 - Dr Dreadful
Jeffrey the Fourthsythe?
19 - Jeff Forsythe
Snap! Good lord; the error nazi is aboard! Have more respect for a Royal you peon!
:) Jeff
20 - Jeff Forsythe
Doc, I judge your reprimand to be that Jet gets to gaze beneath your kilt to acknowledge that you indeed are “going commando.”
Mr. IVsythe
21 - Jet Gardner
Um... uh... I'm staying out of this... for now
22 - Jet Gardner
Thanks Glen
23 - Jet Gardner
More about the Australian polymer bank note I referenced on page two...
Polymer banknotes were developed to increase the security of Australia's paper currency against counterfeiting. In 1967 forgeries of the Australian $10 note were found in circulation and the RBA was concerned about an increase in counterfeiting with the release of colour photocopiers that year.[1] In 1968 the RBA started collaborations with the CSIRO and funds were made available in 1969 for the experimental production of distinctive papers.
The insertion of an optically variable device (OVD) created from diffraction gratings in plastic as a security device inserted in banknotes was proposed in 1972. The first patent arising from the development of polymer banknotes was filed in 1973. In 1974 the technique of lamination was used to combine materials; the all-plastic laminate eventually chosen was a clear, BOPP laminate, in which OVDs could be inserted without needing to punch holes. The BOPP substrate is processed through the following steps:
Opacifying - two layers of ink (usually white) are applied to each side of the note, except for an area(s) deliberately left clear for creating an OVD;
Sheeting - the substrate is cut into sheets suitable for the printing press;
Printing - traditional offset, intaglio and letterpress printing processes are used; and
Overcoating - notes are coated with a protective varnish.
BOPP is a non-fibrous and non-porous polymer. Compared to paper banknotes, banknotes made using BOPP are more durable, harder to tear, more resistant to folding, more resistant to soil, waterproof (and washing machine proof), easier to machine process, and are shreddable and recyclable at the end of their useful lives.
[edit] Security features
The traditional printed security features applied on paper can also be applied on polymer. These features include intaglio, offset and letterpress printing, latent images, micro-printing, and intricate background patterns. Polymer notes can be different colours on the obverse and reverse sides. Like paper currency, polymer banknotes can incorporate a watermark (an optically variable 'shadow image') in the polymer substrate. Shadow images can be created by the application of Optically Variable Ink (OVI) enhancing its fidelity and colour shift characteristics. Security threads can also be embedded in the polymer note; they may be magnetic, fluorescent, phosphorescent, microprinted, clear text, as well as windowed. Like paper, the polymer can also be embossed.
Polymer notes also enabled new security features unavailable at the time on paper, such as transparent windows, and diffraction grating. Since 2006 however the development of the paper transparent window technologies by De La Rue (Optiks) and G&D (Verify) have reduced that advantage.
The transparent window where the OVD is located is a key security feature of the polymer banknote. It is easily identifiable allowing anyone to be able to authenticate a banknote.
Because the polymer bank note contains many security features that cannot be successfully reproduced by photocopying or scanning, it is very difficult to counterfeit. The complexities of counterfeiting polymer banknotes are proposed to act as a deterrent to counterfeiters.
24 - Dr Dreadful
Australian money's great.
My wife once found a $20 floating in the waves at Surfers' Paradise. It was good as new and ready to spend. Didn't need to be dried out or anything.
25 - Jet Gardner
I don't remember where I saw it here but someone was talking about it (possibly Stan)and I got intrigued when I was researching the article and thought it'd be great if my fantasy bill was the first to use the over 20 year old technology because surely the kinks would've been worked out by now.