Federal Reserve notes make up nearly all the paper money in the United States. Hundreds of billions of dollars of these notes are in circulation. They come in seven denominations: $1, $2, $5, $10, $20, $50, and $100. The notes are issued by the 12 federal Reserve Banks in the Federal Reserve System. Each note has marking that identify the bank which issued it. In addition, each note bears the words Federal Reserve note and a green Treasury seal. Until 1969, Federal Reserve Banks also issued notes in four large denominations: $500, $1,000, $5,000, and $ 10,000.

   Other paper money circulating in the United States includes United States notes. These notes, last printed in 1968, are the descendants of Civil War greenbacks. United States notes carry the words United States note and a red Treasury Department seal. All Federal Reserve and United State notes bear the printed signatures of the person who were  secretary of the treasury and treasurer of the United States at the time the notes were issued.

      In the 1990’s the United States began issuing redesigned Federal Reserve notes, starting With a new $ 100 bill in 1996. The government planned eventually to issue new bills for all denominations. Plans called for issuing about one redesigned denomination each year, beginning with the largest denominations and ending with the smallest. The new bills have features intended to make  them harder to counterfeit. These features include a special watermark and a “security thread” that glows in the dark when exposed to ultraviolet light.

   The government announced that the Federal Reserve would gradually remove all the old Federal Reserve notes from circulation. However, the government placed no time limit on the removal. He old bills would keep their full face value for as long as they remained in circulation. For photographs of the old bills and of the new ones issued so far, see the Federal Reserve notes illustration with this article.

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