Posted on Apr 23, 2016
SPC Michael Mullins
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Posted in these groups: Double barred dollar sign.svg MoneyEconomy logo EconomyTaxes logo Taxes
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CW4 Guy Butler
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I'm going to repeat this on the main thread.

You are confusing the VALUE of the bill ($20) with the cost to PRODUCE the bill.

Taking the 2016 order as an example, the cost to produce the 1,939,200 $20 bills (valued at $38,684,00) is around $203,616 - about 10-1/2 cents per bill.

http://m.mentalfloss.com/article.php?id=68650
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LTC Kevin B.
LTC Kevin B.
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(Sorry for the typo in the meme).
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LCDR Student
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1SG Vet Technician
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Would you please provide a source for this number?
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1SG Vet Technician
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SPC Michael Mullins What are you talking about. This is taken right from the Treasury website.

On December 16, 2015, the Board approved the 2016 currency budget totaling $737.4 million, which represents an increase of $19.4 million, or 2.7 percent, from the approved 2015 budget, and an increase of $44.8 million, or 6.5 percent, from estimated 2015 expenses

If you go to the site and look at the breakdown of expenses you can see that the budget does, indeed, include printing costs.
http://www.federalreserve.gov/foia/2016currency.htm
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SPC Michael Mullins
SPC Michael Mullins
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SPC Michael Mullins - also this is the first year since the changing of the 100 dollar bill where the Federal Reserve printed less than 2.5 mil $100 bills since the change and with a life span of 15 years on a $100 dollar bill and the fact that in 2013 there were only 8 billion in circulation the number should be roughly the same if we were only replacing the worn out bills but we now have 10.8 billion in circulation. My number may be a little high but not over exaggerated by much.
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1SG Vet Technician
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You are not taking into account the fact that the cost of replacing the printing plates as they wear, is already figured into the expense budget. Simply replacing the plate with a Tubman instead of a Jackson only involves the initial cost of the redesign. Once the final design is in place, the price to produce replacement plates is going to be the same. It does not matter if the new plate has Jackson, Tubman, Reagan, or Scrooge McDuck as the design
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1stSgt Nelson Kerr
1stSgt Nelson Kerr
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The Change will const very little, the bill will be redesigned at the same time no matter who is on it, simply for security reasons,. New art and plates already have to be produced to the difference in cost is miniscule. The twent was orginaly sceduled to be redesigned with Jackson on it in 2020 replacing him with Tubman will lost nothing

Unless you think it is more expensive top draw a hero that a genocidal thug?
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LCDR Student
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Edited >1 y ago
You want to know the most bullshit cost to the taxpayer when it comes to money? Pennies, nickels, and $1 bills. Every penny costs us 1.6 cents to make. The nickel is not far behind at 5.2 cents to make. Single dollar bills which are the most sparsely used bill have a circulation life of 12-18 months. If we went to dollar coin exclusively (which have a circulation life of 30 years) we would save a ton of money. Look we change the designs on bills all the time, if you want to bitch about wasting money on our money, then then the penny, the nickel, and the $1 bill need to be in your sights first.
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Is honoring Harriet Tubman with her face on the $20 bill worth the $911,600,000 that it will cost the American tax payer?
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PO1 William "Chip" Nagel
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Wow! Now that is a Whopper. What is the "Source" of this Information?
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PO1 William "Chip" Nagel
PO1 William "Chip" Nagel
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21 Years in Electronic and Information Warfare, Listening to Radio Moscow and Voice of American but that beats the best Whopper they ever told.
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SPC Michael Mullins
SPC Michael Mullins
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PO1 William "Chip" Nagel - Try taking 5 minutes looking up the cost to print a 20 dollar bill and the look up the number currently in circulation as with any change in currency the old is general phased out within a few years by banks. So I will just give you the numbers and you can verify if you would like. As of 2015 according to the U.S. mint there were 8.6 billion 20 dollar bills in circulation, also according to the U.S. mint it costs the Govt 10.3 cents to print a 20 dollar bill. In other words it will cost 911,600,000 to print 8.6 billion 20 dollar bills and it will probably take 5-7 years for the U.S. mint to fully phase out the old bills as their circulation life is calculated at 7 years maximum. Simple research my friend and it takes less than 10 mins.
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CW3 Network Architect
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We're going to have to print new money anyway to replace old bills that get taken out of circulation, and as printing plates wear out, they're going to have to be replaced anyway. Those costs are built into the budget of the Bureau of Engraving and Printing. The only real cost is changing the design of new plates, which is significantly less than was given here.
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SPC Temp Worker
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I don't have a problem with it we print money almost everyday due to battling counterfeiting. Plus we have a trillion dollar GDP we got plenty of money. The government just doesn't spend the money right.
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Col Joseph Lenertz
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Nearly $1B to re-tool the printers seems about 1000 times too high. Yes, the US could get real value out of that kind of money.
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Cpl Justin Goolsby
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I have zero issue with changing the currency for variety or security. My issue is this Country has a serious spending problem and until we learn to trim the fat, we shouldn't be wasting money on superfluous things.
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1stSgt Nelson Kerr
1stSgt Nelson Kerr
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What money uis being wasted on this, id Tubman more expense to engrave than Jackson?
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Cpl Justin Goolsby
Cpl Justin Goolsby
>1 y
The money wasted would be creating brand new printing plates. We already have 20 dollar bills in circulation. Creating new ones for appearance sake is a waste of money. Like I said, we need to learn how to trim the fat and this is a waste of money.
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1stSgt Nelson Kerr
1stSgt Nelson Kerr
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THe plates have a limnited lifetime and need to be modifired p periodical anyway for security reasons, The C 20$ bill will change its face on the same date as it would as if The Genocidal thug was still featured. Cherey will be zero cost difference
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LCDR Student
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SSgt Rilene Ann
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Anythingvto get Jackson out
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