Banknote production slowed in November for a third straight month and to a nine-month low, data from the agency responsible for printing U.S. currency shows. The number of notes and their combined value dropped sharply from October, although both totals climbed from year-ago levels.
538.24 million in $1s, $5s, $20s, $50s, and $100s were printed last month for a total value of more than $13.5 billion, according to Bureau of Engraving and Printing (BEP) figures. These compare to October amounts of 675.84 million notes worth nearly $20.6 billion.
In month-over-month percentage comparisons, the BEP made 20.4% fewer banknotes for a combined value that is 234.2% lower. In other monthly differences, there were:
- 21.6% fewer $1s;
- 15.4% fewer $5s;
- 7.1% more $20s;
- 18.9% fewer $50s; and
- 47.6% fewer $100s.
The BEP did not produce $10s for the first time since January. $2s have not been made since July, and more are not expected for some time. The Federal Reserve noted that their FY 2016 order for $2s was enough to meet demand for "multiple years."
Compared to the same month a year earlier, the number of notes edged up 1.9% from 528,128,000 and their total value jumped 8.9% from $12,432,256,000. Going forward, fewer notes will be printed on average since the Fed ordered 7.1 billion banknotes for FY 2017 compared to 7.6 billion banknotes in FY 2016.
Below are images of the BEP’s latest monthly production report. They show the type of banknotes manufactured at the agency’s two printing facilities.
November 2016 BEP Banknote Production
Facility at Washington, DC
Facility at Fort Worth, TX
The BEP printed 7.04 million star notes, split across $1s and $20s. Star notes are replacements for misprinted or damaged notes and for certain serial numbers like 000 000 000. They have serial numbers that end with a star “*” designation, and are also so indicated by quantities in the images above. Money collectors usually find star notes more desirable since they can be harder to find.
The following table lists the type, the amount and the total value of banknotes printed by the BEP for the month:
Banknotes by Denomination: Total Printed and Values
November 2016
| Banknotes | Total Printed | Total Value ($) |
| $1.00 | 185,600,000 | 185,600,000 |
| $2.00 | – | – |
| $5.00 | 70,400,000 | 352,000,000 |
| $10.00 | – | – |
| $20.00 | 154,240,000 | 3,084,800,000 |
| $50.00 | 57,600,000 | 2,880,000,000 |
| $100.00 | 70,400,000 | 7,040,000,000 |
| Totals | 538,240,000 | 13,542,400,000 |
For comparison, four previous monthly money production tables follow.
Banknotes by Denomination: Total Printed and Values
October 2016
| Banknotes | Total Printed | Total Value ($) |
| $1.00 | 236,800,000 | 236,800,000 |
| $2.00 | – | – |
| $5.00 | 83,200,000 | 416,000,000 |
| $10.00 | 6,400,000 | 64,000,000 |
| $20.00 | 144,000,000 | 2,880,000,000 |
| $50.00 | 71,040,000 | 3,552,000,000 |
| $100.00 | 134,400,000 | 13,440,000,000 |
| Totals | 675,840,000 | 20,588,800,000 |
September 2016
| Banknotes | Total Printed | Total Value ($) |
| $1.00 | 314,100,000 | 314,100,000 |
| $2.00 | – | – |
| $5.00 | 76,800,000 | 384,000,000 |
| $10.00 | 32,000,000 | 320,000,000 |
| $20.00 | 134,400,000 | 2,688,000,000 |
| $50.00 | 64,000,000 | 3,200,000,000 |
| $100.00 | 99,200,000 | 9,920,000,000 |
| Totals | 720,500,000 | 16,826,100,000 |
August 2016
| Banknotes | Total Printed | Total Value ($) |
| $1.00 | 320,350,000 | 320,350,000 |
| $2.00 | – | – |
| $5.00 | 76,800,000 | 384,000,000 |
| $10.00 | 32,000,000 | 320,000,000 |
| $20.00 | 160,320,000 | 3,206,400,000 |
| $50.00 | 41,600,000 | 2,080,000,000 |
| $100.00 | 89,600,000 | 8,960,000,000 |
| Totals | 720,670,000 | 15,270,750,000 |
July 2016
| Banknotes | Total Printed | Total Value ($) |
| $1.00 | 195,200,000 | 195,200,000 |
| $2.00 | 44,800,000 | 89,600,000 |
| $5.00 | 77,120,000 | 385,600,000 |
| $10.00 | 44,800,000 | 448,000,000 |
| $20.00 | 128,000,000 | 2,560,000,000 |
| $50.00 | – | – |
| $100.00 | 96,000,000 | 9,600,000,000 |
| Totals | 585,920,000 | 13,278,400,000 |
As a perspective, the BEP in FY 2015 delivered about 7 billion notes at an average cost of 10 cents each, and needed about 8.7 tons of ink each day to print them. More than 90% of those printed are for replacing those already in, or taken out of circulation.
Federal Reserve data indicates that there was approximately $1.48 trillion in circulation as of Oct. 20, 2016, of which $1.43 trillion was in Federal Reserve notes.
