In an effort to leapfrog counterfeiters who have taken to bleaching $5 bills and reprinting them a $100 bills, the Bureau of Engraving and Printing today unveiled the $5 bill redesign. Like other new U.S. currency, the five will be printed in pastel colors, in this case violet and touch of yellow, in addition to the familiar green and black. Slightly less than 10% of all bills printed are $5, which have a life expectancy of only 16 months.

Other features intended to frustrate counterfeiters are revised watermarks, a relocated security thread that glows blue under ultraviolet light, an added Great Seal of the United States, touched-up images of Lincoln and his monument, and larger numerals for the sight-impaired. Interestingly, the bureau estimates that during the administration of the president whose image graces the $5, a full third of U.S. currency was counterfeit.

Next on the schedule for the bureau is a redesign of the $100. No plans seem to be in the works for the lonely old $2, a favorite for scammers who know that the chances are pretty good that, given the inattentiveness of modern clerks, they'll receive change for a $20.

The term "greenback" may be going out of style when it comes to the new $5 bill. The newest, high-tech Lincoln five-dollar bill was unveiled this morning by U.S. government officials just as the U.S. dollar hit an all-time low against the euro. How charming!

The newest $5 bill represents the latest technology in the ongoing quest to thwart global counterfeiters, as it features newer pastel colors and watermarks of the number 5 instead of a watermark like the one used on the $100 bill (featuring Benjamin Franklin's head).

Of course, those are not the only changes. The security thread (seen when you hold a $5 bill up to a light) has been moved to a different location than in the $100 bill. The $5 bill was not actually going to be redesigned until U.S. customs officials saw that counterfeiters were bleaching existing $5 bills and printing $100 values on them due to the security thread being in the same place on both bills. Also, the border around Lincoln's head has been removed and a series of purple stars (with small, yellow 5 numerals) will take its place. The center of the bill also features a purple color that fades into gray at the bill's edges.

It's interesting that the launch will not happen until next spring, to give vending machine operators time to upgrade for the new bill, among other things (heh). Until then, government officials can continue to add to the roster of 3,945 arrests related to counterfeit bill production in 2006, with an estimated loss of $62 million. That means the average loss would be about $15,716 per arrested offender. Newsflash to the government: $15,000? I'm quite sure the loss was more than that. Not a good ROI especially when you consider the costs of the newest color laser printers, eh?