The funny thing about money is people get attached to the way it looks, argue over changes, but then after the government printing presses roll out the new currency the attachment with resistance to change starts all over.
It’s so odd that most folks hardly remember the details of the former bills. So expect the changes being proposed by Treasury Secretary Jacob Lew to encounter the same resistance until he new money goes into circulation.
Treasury officials aren’t talking, but a CNN report indicates that Alexander Hamilton, appointed the nation’s first secretary of the treasury in 1789, will remain on the $10 bill. It looks like Andrew Jackson as the seventh president of the U.S. will be pulled from the $20 bill and replaced with a woman who stands for racial equality.
By the way, the $20 bill is the third most commonly circulated U.S. currency with 7.4 billion of them out there being traded for goods and services worldwide. Second is the $100 bill with 9 billion in circulation. And the top dog is the dollar bill with 10 billion in circulation.
Women are expected to be honored on the $10 bill with a mural-style image of the suffrage movement replacing the the drawing of the Treasury building on the back of the bill, CNN reports. That’s bound to be an improvement.
Lew said the government would be redesigning the $10 bill, the $5 bill and the $20. That’s a lot of money makeovers for people fixed on the current currency to take.
Having a woman on U.S. currency would represent the first appearance of a female’s portrait on U.S. paper currency in 100 years. Other countries have done it. The U.S. has a lot of catching up to do.
The Treasury received more than 1.5 million responses to a request for suggestions on the currency redesign. People who can afford it, can put a copy of each of the U.S. bills currently in circulation and put them in a secure place at home, and then dig out the currency when they want to reminisce.
Otherwise, people can visit the Money Museum at the Federal Reserve Bank of Kansas City. There they can find some copies of past U.S. currency.
For those who want samples, on the way out, they can pick up an actual bag of old, worn-out currency. However, it has been shredded for safe keeping.