An Administration Proposal To Print the Backs of One Dollar Notes by Other Than the Intaglio Method
GGD-83-98: Published: Aug 15, 1983. Publicly Released: Sep 14, 1983.
- Full Report:
In response to a congressional request, GAO examined the Department of the Treasury's proposal to print the backs of one dollar notes by the offset, rather than the intaglio, printing method.
GAO found that the Bureau of Printing and Engraving probably has sufficient capacity to meet the anticipated increased need for currency during the next 2 years, whether the notes are printed by offset or intaglio. However, offset currency printing would increase the Bureau's production capacity in fiscal year (FY) 1985 and would, therefore, meet maximum currency requirements. Regarding the advisability of changing to offset, GAO stated that offset printing could save about $5 to $6 million in FY 1984. While GAO noted that it could not fully confirm these prospective cost savings, it also noted that the change involves few risks and that the Federal Reserve system, which is the sole customer for the currency, supports the proposed legislation.