Increase in Notes (and Coins) for US Federal Reserve

The Federal Reserve Board of Governors has confirmed the order for banknotes for 2024, which will be in the range of 5.3-6.9 billion notes, valued at $180.5-204.4 billion.

It has also changed the timing of print order for 2024, with a switch from a traditional order for the fiscal year that begins in October to one for the calendar year beginning January.

The reason, it says, ‘was driven by the benefits of an increased supply chain lead time and longer production planning horizons for the BEP’. It also mentioned that with the Treasury Department’s announced 2026 issue date for the Catalyst $10, production of that note will start in 2025.

The final production figure for 2023 was 5.74 billion notes, versus an initial range of 4.5 billion to 8.6 billion notes. The Board, in conjunction with the BEP, says it will adjust production of each denomination within the stated ranges to best match available production with demand throughout the year.