The Digital Collegian - Published independently by students at Penn State
NEWS
[ Tuesday, Oct. 21, 2003 ]

New $20 bill causes local businesses problems

Collegian Staff Writer

The new $20 bill, which has circulated for little more than a week, is causing some problems with vending machines used in the Penn State community.

The new bill, which features shades of peach and blue and a slightly altered design, has prompted some State College area businesses to make changes. However the federal government has not reported any widespread problems related to the bill, said James Brent, chief of the Office of Currency Production.

The federal government decided to change the look of the bill and add colors for one reason.

"In a word -- counterfeiting," Brent said.

Although counterfeiting has not been on the rise in the country, the use of digital techniques has risen by 40 percent in recent years, he said. The $50 bill is scheduled for change in 2004 and the $100 bill will be changed in 2005, he said.

The Lion Cash machines on campus do not accept the new bills yet, as the ID+ office is waiting for the arrival of a part to be installed, said Cynthia Kellerman, manager of the ID+ office.

Also, the meal point machines will not read the new bills, and signs have been placed at the machines warning students not to use the new bills yet, Kellerman said.

Kellerman could not give a time frame for when the machines would be ready to read the new bills.

"At this point we're just waiting," she said.

Other universities using similar vending systems are experiencing the same problems, she said.

At the State College Post Office, 237 S. Fraser St., all stamp vending machines were modified to accept the new bills, said Terry Fagley, a vending machine technician.

The vending machines, both on and off campus, were all changed prior to the bill's release, Fagley added.

Some downtown businesses have taken measures to educate employees about the new bill.

Jim French, general manager of McLanahan's Downtown Market, 116 S. Allen St., said his cashiers did not undergo any specialized training because of the new bill, but they did receive some general information about its release.

PHOTO: Alyson McCrum
PHOTO: Alyson McCrum
Lion Cash machines have signs that say they does not accept the new $20 bill.

"[New bills] are always a big deal. Everybody points out the new features and gets all excited," French said.

The employees of the Nittany Bank, 116 E. College Ave., were made familiar with the new bill and its features at meetings, said Diane Haslet, personal banking representative. Haslet said the bills arrived at the bank Oct. 16, and would eventually be in the automated teller machine.

JC Penney department store, 2900 E. College Ave., told its cashiers about the bill's arrival and how to recognize it, said Jennifer Wolfe, senior department manager.

"It's not really a major change for us, but we wanted to let the cashiers know it was coming. Our company notified us [the new bill] was coming with its descriptions," Wolfe said.

Bridget Daly (junior-animal biosciences) said the new bill was a good way for the government to prevent counterfeiting from occurring at a high frequency, but the advertising the government has done for the new bill may have been fiscally irresponsible due to the country's current financial situation.

"It's a good a idea to inform the public and help spot the new bill, but the government shouldn't spend money on advertising while it's in deficit," she said.

Jon Lawrence (freshman-engineering) said he thought the change should have taken place a long time ago because the new bills are supposed help prevent counterfeiters.

Nakiesha Brooks (junior-kinesiology) has not seen the new bill yet, but she has seen a lot of advertising on television for it, she said.

The government doesn't need to waste money advertising the new bill since people have to use it regardless of what it looks like, she said.

Brooks said she doesn't think the change was a good idea.

"They look fake," she said.

Brent said the advertising campaign for the new bill was part of an education and awareness campaign.

"Cash handlers, merchants, citizens and retailers have to recognize it," he said.

 



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