2004 Press Releases

US Dollar Notes Maintain Same Value in spite Design Change

April 28, 2004

US Embassy, Freetown
Contact: DCM Larry Andre
Tel: 226481 ext 298

Every few years since 1996, the United States government has issued currencies with new designs and security features in denominations of $100, $50 and $20 notes.  It is important to note that all US currency continues to be honored at full face value, whether it is the old or new design.  There will be no recall or devaluation of any US notes.   As the new currency is phased in, the old notes will be retired by the Federal Reserve when they are returned.  Anyone who says that the old design ("small face") notes are worth less than the new design ("big face") notes is mistaken.  They are both equally valid U.S. currency worth the full face value.  

The purpose of the redesigned currency is to provide a safer, smarter and more secure legal tender.  The new designs are safer because they are harder to fake and are easier to check.  They are smarter because they contain features that stay ahead of high-tech counterfeiters.  They are more secure in order to protect the integrity of U.S. currency. The most noticeable difference in the new design is the larger portraits ("big face") and, in the newest design, introduction of background colors.  Colors make counterfeiting more burdensome because it adds complexity to the note.  Color will also make it easier to distinguish between denominations because different background colors will be used for each denomination.

The U.S. Federal Reserve and the U.S. Department of the Treasury are committed to continuous improvements in currency design in order to protect the US economy.  To ensure this, new currency designs are expected every 7-10 years.  Decisions on new designs for the $5 and $10 are still under consideration. But a redesign of the $2 and $1 is not planned.
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