Contacts
For Immediate Release

Old and New $20s Are Legal Tender -- Now and Forever

SAN FRANCISCO, October 23, 1998--In recent days, there has been some confusion about the newly designed $20 note and the older series $20 notes. The purpose of this advisory is to remind the media and the public that older series $20 notes will never be recalled or devalued. Older series $20 bills will continue to be accepted and recirculated as long as they remain in good condition. The new $20 notes will replace older notes gradually, as the average lifespan of a $20 bill is about two years.

The continuing introduction of redesigned notes is a critical component of the federal government's anti-counterfeiting effort. The new series aims to maintain the security of the nation's currency as computerized reprographic technologies such as color copies, scanners, and printers become more sophisticated and more readily available.

The new $20 note entered circulation last month. It is commonly used in daily commerce and is the bill most often dispensed by automated teller machines (ATMs). The $20 note is the third in the U.S. currency series to include new and modified security features to deter counterfeiting. The Series 1996 $100 note was issued in March 1996, and the redesigned $50 bill was issued in October 1997.

Twelfth District Federal Reserve Contacts:
	San Francisco Headquarters:	Carol Eckert	(415) 977-3853
	Los Angeles Branch:	Calvin Naito	(213) 683-2902
	Seattle Branch:	Grace Wong	(206) 343-3740
	Portland Branch:	Caryl Lindemaier	(503) 221-6070
	Salt Lake City Branch:	Paul Morley	(801) 322-7926