The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
■ NEWS RELEASE •• •• •••••••• •••••••••• ••••••••••••• The Federal Reserve Bank of St. Louis St. Louis Little Rock Louisville Memphis Media Advisory Contact: Charles B. Henderson (314) 444-8311 For release: November 3, 1998 Old $20 Bills Are Legal Tender-Now and Forever ST. LOUIS -An apparent prank by a disc jockey at a radio station in St. Louis today incorrectly reported that the old $20 bills would soon be worthless. The United States has never recalled or devalued its currency and will not do so. The United States always honors its currency at full face value, no matter how old. Like the new $100 and the new $50, the newly designed $20 bill has new and modified features to deter counterfeiting. Over time, as older series notes wear out and are returned to the Federal Reserve, they are replaced with the new notes. The process is moving more slowly with the new $20 than it has with the new $1 00s and the new $50s because the older $20s in good condition will continue to circulate with the new $20s. The average $20 bill has a lifespan of about two years, compared to 8.5 years for a $100 or $50 bill. The bottom line is that older-series $20, as well as older-series $50 and $100 notes, are good - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis now and forever. ###
@FedFRASER