First New $5 Bill to Be Spent at President Lincoln's Cottage on March 13th
The first redesigned $5 bill, which will continue to feature the portrait of President Abraham Lincoln, will enter circulation on March 13 and will be spent at the gift shop of President Lincoln's Cottage at the Soldiers' Home in Washington, D.C. The venue, which has recently been restored and open to the public, was used by President Lincoln as a retreat. President Lincoln understood that maintaining the integrity of U.S. currency was critical to the stability of our economy. In fact, President Lincoln established the United States Secret Service the same evening he was assassinated at Ford's Theatre in Washington, D.C. and made it the agency's primary mission to safeguard the nation's currency from counterfeiters.
On March 13, Federal Reserve banks will begin distributing redesigned $5 bills to customer banks, which will then distribute currency to businesses and consumers. The new bills will first begin circulating in the U.S. and gradually in other countries as international banks place orders for $5 bills from the Federal Reserve. Older-design $5 bills will maintain their full face value. Therefore, it will not be necessary to trade in old $5 bills for new ones.
Anna Escobedo Cabral, Treasurer of the United States
Michael Lambert, Assistant Director, Division of Reserve Bank Operations and Payment Systems, Federal Reserve Board
Pamela Gardiner, Deputy Director, Bureau of Engraving and Printing
Michael Merritt, Deputy Assistant Director, Office of Investigations, U.S. Secret Service
Thursday, March 13, 2008 at 10:30 AM. Media set-up will begin at 9:00 AM.
10:30 AM - Brief remarks from Michael Lambert, first transaction with the new $5 bill
11:00 AM - Spokespeople available for interviews
11:30 AM - Tutorial given by Treasurer Cabral on the $5 bill's security features to an elementary school class from the Tri-Community Public Charter School
President Lincoln's Cottage at the Soldiers' Home
President Lincoln's Cottage is located on the Armed Forces Retirement Home campus in Washington, D.C. approximately 15 minutes from downtown. From downtown DC, go north on 16th Street, and make a right on Upshur Street. The entrance to President Lincoln's Cottage is straight ahead at the end of Upshur Street in Northwest Washington, DC.
Press kits for the redesigned $5 bill are available in the Media Center at www.moneyfactory.gov. The electronic press kit includes a range of information about and images of the redesigned $5 bill.
B-roll of U.S. currency is available at www.moneyfactory.gov in the Multimedia Downloads section of the Media Center.
All attending press should please call 202-530-4887 by March 11th.
One-on-one interviews will be available with principals from the Department of the Treasury, Bureau of Engraving and Printing, Federal Reserve Board and United States Secret Service. Please schedule in advance by calling 202-530-4887.
Free educational materials are available to businesses, financial institutions, trade and professional associations, citizen groups and individuals to prepare cash handlers and consumers to recognize the new design and protect themselves against counterfeits. Since 2003, the U.S. government has distributed about 80 million pieces of public education and training materials about the new $5, $10, $20 and $50 bill redesigns. Materials are available to order or download in multiple languages at www.moneyfactory.gov.
About President Lincoln's Cottage: Designated a National Monument by President Clinton in 2000, President Lincoln's Cottage served as Lincoln's family residence for a quarter of his presidency and is a significant historic site directly associated with Lincoln's presidency. President Lincoln's Cottage is located on the grounds of the Armed Forces Retirement Home in northwest Washington, D.C. and has been restored by the National Trust for Historic Preservation. For further information, including driving directions, go to www.lincolncottage.org.