Most people would not really notice that almost all of the paper currency in the United States has undergone a change in the past two years. Some are minor- such as the one dollar note, and some major. A good question would be why? For a similar example, we have to look to England. In 1947, great Britain gave every one 30 days to bring in all of their 5 pound notes, and exchange them for a new issue. The 5 pound note was the most circulated of all British paper currency. At the time, it was worth between $20, and $25 dollars in exchange. The real reason for this major change- the first in 50 years did not become general knowledge until 1953.The real story was that the Nazi’s had rounded up all the skilled engravers, and forgers and placed them in a camp. They were put to making engraving plates of the 5 pound note, and were working on the U. S. Currency when the war ended. The NAZI’ counterfeit notes were so good that they were used to pay their spies. In 1950, a large quantity of the counterfeit notes, and some that were not perfect with samples of other forgery’s floated to the surface of a lake near Rirl Zeph in Germany. The secret was out, but it was not publicized until 1953.The best estimate of the time was that over forty percent of all the five pound notes in circulation were false .If the counterfeiting had continued, and other notes added to the circulation, the British economy, weak from wartime expenditures would collapse. The best estimate was that if continued, the economy would not last another 18 months.
There is always a reason behind major changes in the appearance of currency. The best estimate by the treasury department is that more than fifty percent of 100 dollar bills- most of the old kind are overseas. No-one has been able to show where theyare best educated guess is that they are held by smugglers. Twenty dollar notes are not far behind. The present changes of the face of the notes , and a removal, or DE-monetising of the old notes would seriously cut in to the ability of smugglers to be able to buy airplanes, and submarines, as well as cars, and fir digging tunnels into the U.S. This would be a major step in propping up out currency. I remind you that today’s dollar is worth five cents in the money of 1932.. People today are hoarding silver, and gold. Silver has many industrial uses. Currently, it sells for around $12 per ounce. The gold coins that the U. S. has minted since 1986 freely circulate. I speculate that the “new” gold coins could, as happened in 1934 be called in. the “old ones- pre 1934 have already been subjected to a call-with each person being allowed to keep $20 in gold coin. This is why there are so many old $20 gold pieces, and so few one dollar coins, and 2.50 coins. The only thing that would secure our currency more is to, as many European countries have done, implant a magnetic strip like a credit card. I suspect it is coming.