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rookie question on $2 bill



 
 
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  #1  
Old September 19th 03, 09:59 AM
John III
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Default rookie question on $2 bill

http://www.sit.wisc.edu/~dmoffitt/serials/03_b.html

Going by this link...Does this mean that there has only been 3,200,000 $2
bills printed up until August, and they are all star notes?

I thought star notes were replacement notes? Do they normally print them
first and use them as needed to replace old worn, or destroyed bills?

Thanks in advance.

John III


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  #2  
Old September 19th 03, 04:43 PM
Coin Saver
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From: "John III"

http://www.sit.wisc.edu/~dmoffitt/serials/03_b.html
Going by this link...Does this mean that there has only been 3,200,000 $2

bills printed up until August, and they are all star notes?

Yup.

I thought star notes were replacement notes?


Exactly so.

Do they normally print them first and use them as needed to replace old worn,

or destroyed bills?

50% correct. Star Notes are only used for replacing Notes 'spoiled' during the
printing process. Such as if a sheet were mis-fed into the press. Notes which
are returned as excessively worn and disposed of are replaced bu 'regular'
blocked Notes (not stars).

8-/
Coin Saver
  #3  
Old September 19th 03, 06:07 PM
ADVANSPEC
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x-no-archive:yes

... So does anyone know if these new 2003 Two's are being printed for all
Districts, or will it be like the '95's & just be a run for 1 district??
  #4  
Old September 19th 03, 07:04 PM
Fred Shecter
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Bookmark this link:


http://www.sit.wisc.edu/~dmoffitt/serials/


-Fred Shecter
--
""Remove "zorch" from address (2 places) to reply.


"ADVANSPEC" wrote in message
...
x-no-archive:yes

... So does anyone know if these new 2003 Two's are being printed for all
Districts, or will it be like the '95's & just be a run for 1 district??


  #5  
Old September 19th 03, 09:02 PM
Coin Saver
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From: advanspec

So does anyone know if these new 2003 Two's are being printed for all

Districts, or will it be like the '95's & just be a run for 1 district?

That's up to the Director of the BEP, but my guess is that they *won't* be for
*all* Districts.

Whether or not they'll be limited to just one District is anybody's guess.

8-/
Coin Saver
  #6  
Old September 20th 03, 02:12 AM
John III
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Fred, according to your provided link. It has the letter I as the first
letter of the Serial number. Does that mean that these are printed for only
the Minneapolis district? Also, how do they decide which district to print
them for? Requests from a district? One more question (for now). How do they
know how many of these star notes to print up in advance, experience, lucky
guess? Please remember I am a rookie :-)

Thanks,

John III


"Fred Shecter" wrote in message
...
Bookmark this link:


http://www.sit.wisc.edu/~dmoffitt/serials/


-Fred Shecter
--
""Remove "zorch" from address (2 places) to reply.


"ADVANSPEC" wrote in message
...
x-no-archive:yes

... So does anyone know if these new 2003 Two's are being printed for

all
Districts, or will it be like the '95's & just be a run for 1 district??




  #7  
Old September 20th 03, 04:11 AM
Scott Stevenson
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On Fri, 19 Sep 2003 21:12:42 -0400, "John III"
wrote:

Fred, according to your provided link. It has the letter I as the first
letter of the Serial number. Does that mean that these are printed for only
the Minneapolis district? Also, how do they decide which district to print
them for? Requests from a district? One more question (for now). How do they
know how many of these star notes to print up in advance, experience, lucky
guess? Please remember I am a rookie :-)

Thanks,

John III


John,

If I can jump in with my $2 worth on knowing how many stars to
print...

It's like any other product that gets manufactured. Make enough of
them, and you'll get a very good handle on what your spoilage rate is
going to be.

take care,
Scott
  #8  
Old September 20th 03, 03:33 PM
Coin Saver
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From: Scott Stevenson

It's like any other product that gets manufactured. Make enough of them, and

you'll get a very good handle on what your spoilage rate is going to be.

Except this is a Government project, not one of private industry.

8-/


Coin Saver
  #9  
Old September 20th 03, 03:55 PM
Coin Saver
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Default

From: "John III"

the letter I as the first letter of the Serial number. Does that mean that

these are printed for only the Minneapolis district? Also, how do they decide
which district to print them for? Requests from a district?

There are 12 Districts in the Federal Reserve. Originally, the process was to
send the matching Notes to the District ordering them. However, since about
1990, the BEP has re-vamped the system, and now the District designations are
used primarilly as an accounting system; now, when a Federal District Bank
orders Notes, they can receive them bearing any of the 12 District notations.
Since using the newer system of accounting, it seems the Notes with the most
printings seem to be B & L, and with the fewest C & I.

How do they know how many of these star notes to print up in advance,

experience, lucky guess?

They have a guideline that they follow. They'll print up 320,000 at a time,
until the 'need' is fulfilled. The number needed is determined by the orders
for Notes by the District Federal District Banks. In this case, there must
have been orders from at least one of the Federal District Banks for $2 Notes
which sent their reserves below acceptable minimum stockpile, which means they
must now print more for that purpose.

Due regulations, they must print in the most current Series, and the 2003
Series was established prior to the order. When a new Series for a
denomination is first started, the initial action is to print Star Notes to
have them at the ready.

At this point, they only have to print and stockpile them. Unless there are
actual orders for $2 Notes that further deplete the stockpile, they don't have
to issue them.

8-/
Coin Saver
 




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