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New $5 Bill Now in Circulation: Is it Time to Revalue the Dollar?

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I’m a fan of paper money less than I am of coins, but I still like to take notice whenever any currency is redesigned. The $5 bill is the latest to get a make-over to thwart counterfeiters and to keep things interesting. Apparently counterfeiters prefer to bleach current $5 and reprint images of $100 bills on the paper for a tidy profit. The new watermarks on the $5 bill should prevent this.

Here is the new design.

New $5 bill design

These colorful bills entered circulation last Thursday, but I have not seen one just yet. Personally, I’d like to see more artistic designs — on bills as well as coins. I’d also like to see elimination of the one-cent piece and the one dollar bill. I’ll go out on a limb and even consider revaluation of the US dollar in such a way that today’s $1 becomes the “new $0.10″ and today’s $10 becomes the “new $1″ and so forth. It sounds crazy, but I’d like to see this before it costs $100 to see a movie in a theater.

U.S. unveils new $5 bill to thwart counterfeiters [Reuters]

Updated April 9, 2008 and originally published March 18, 2008. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 7 comments… read them below or add one }

avatar ~Dawn

Flexo,
What coins do you collect? I’m more partial to the pre-64 coins myself.

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avatar Llama Money

90% silver coins are a great way to build up a silver collection. Me, I only have Silver and Gold eagles so far… need to hunt down some old 90% coins one of these days. As for bills, meh. I rarely have more than a handful of bills at a time… any large purchases are made with a credit card. They could make the $5 bills purple and pink for all it matters to me.

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avatar Seb

I would love to see the dollar bill go away and be replaced with a coin. But unfortunately, the U.S. public sees differently. Except for use as tokens to ride the T into Boston, I hardly ever see dollar coins anywhere.

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avatar Anca

My only experience with revaluation is from when Romania (where I’m from) decided to take off 4 zeros from the end of its money: http://en.wikinews.org/wiki/Romania_redenominates_its_currency

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avatar Hobbs

The more worthless the currency, the more attractive the engraving. At the rate that the Federal reserve is throwing the currency “under the bus” I am looking forward to female nudes being featured on the currency. Perhaps Elliot Spitzer’s girl, Kristen, could grace the $1000 bill and Scarlet Johanson could appear on the new $5,000- this might slow down the velocity of money and prevent hyperinflation!.

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avatar BenG

Hobbs –

You realize America has already HAD currency with nude females on it? Check out the amazing “educational series” currency from the 19th century.

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avatar Khyron

Revaluing? Are you sick? Is this Venezuela? Can we at least keep up the illusion of a non-socialist state until I leave?

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