Revised 2023 Federal Reserve Note Print Order (2024)

FAQs

Revised 2023 Federal Reserve Note Print Order? ›

The revised 15-month (October 2022 – December 2023) print order increases the total number of notes from a range of 4.6 billion to 8.7 billion notes to a range of 5.6 billion to 9.9 billion notes, an increase of 23.4 percent for the low estimate and 14.2 percent for the high estimate.

Currency and Coin Services

The revised print order increases the total number of notes from a range of 4.5 billion to 8.6 billion notes to 4.6 billion to 8.7 billion notes, an increase of 1.3 to 1.4 percent. The total value of the revised order is $166.6 billion to $190.5 billion.

The Federal Reserve will spend $931.4 million to print bills in 2023 — but there's a problem with U.S. cash. “We haven't modernized or changed our currency. That's probably a mistake,” Aaron Klein, senior fellow of economic studies at Brookings Institute, told CNBC.

1 The CY 2024 print order contains a range of 5.3 billion to 6.9 billion notes, valued at $180.5 billion to $204.4 billion. During CY 2024, Board and BEP staff will adjust production of each denomination within this range to best match available production with demand throughout the year.

On July 14, 1969, the Department of the Treasury and the Federal Reserve System announced that currency notes in denominations of $500, $1,000, $5,000, and $10,000 would be discontinued immediately due to lack of use.

2023 Federal Reserve Note Print Order

The FY 2023 print order contains a range of 4.5 billion to 8.6 billion notes, valued at $166.5 billion to $190.5 billion.

All U.S. currency is printed at our facility in Washington, D.C. and at our facility in Fort Worth, Texas. In addition to manufacturing U.S. paper currency, BEP also prints a variety of U.S. government security documents.

The Bureau of Engraving and Printing (BEP) produces United States currency notes, operates as the nation's central bank, and serves to ensure that adequate amounts of currency and coin are in circulation.

To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit – Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin.

Can I get a $500 bill from the bank? ›

American paper currency comes in seven denominations: $1, $2, $5, $10, $20, $50, and $100. The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But they are still legal tender and may still be in circulation.

“On June 25, 1776, the Continental Congress authorized issuance of the $2 denominations in “bills of credit” for the defense of America,” the U.S. Currency Education Program said. Odds are your $2 bill is worth $2, but it doesn't hurt to check. Click here to find the value of your $2 bill.

The Federal Reserve reported that in 2022, $2 bills in circulation amounted to $3 billion, a small fraction of the total $54.1 billion currency circulated that year. The note is considered uncommon but not rare.

Since the previous report, the size of the Federal Reserve's balance sheet decreased roughly $700 billion, from about $8.7 trillion on March 29, 2023, to about $8.0 trillion as of Sep- tember 27, 2023 (table 1).

The M1 money supply in the U.S. stood at roughly 18.2 trillion U.S. dollars as of November 2023, significantly lower than a year before that.

The Federal Reserve is expected to keep the fed funds target range steady at 5.25%-5.50% for a seventh consecutive meeting in June 2024, amid stickier-than-expected inflation and a robust job market and economy.