Paper Money

BEP reveals Series 2017 $1 note, new signature

Treasury Secretary Steven T. Mnuchin printed his signature rather than writing it in cursive. Shown is the signature on a Series 2017 $1 Federal Reserve note, scheduled to be released in a month or so.

Screenshot from CBS News.

The first Series 2017 $1 Federal Reserve notes with the signatures of the new Treasury secretary, Steven T. Mnuchin, and new United States Treasurer Jovita Carranza were unveiled at the Bureau of Engraving and Printing on Nov. 15. They are supposed to go into circulation in December.

The debut of the note was widely covered on the Internet, cable news, and social media, mainly owing to a series of photos showing the secretary and his wife holding a 50-subject sheet of Atlanta district star notes.

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The only difference between the new note and its Series 2009 predecessor is that Mnuchin’s signature is legible, whereas that of Jack Lew was unreadable. Mnuchin’s is printed in block letters, not in cursive.

Mnuchin was quoted as saying “I felt since it was gonna be on the dollar bill forever, I should have a nice, clean signature.”

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Media reports from outlets covering the event in Washington added that Mnuchin made no comments about the proposed redesigns of the $5, $10, and $20 notes. Based on Associated Press reporting, collectors should expect delays. The $10 Federal Reserve note is the next one scheduled for redesign, and, according to the AP, that will not be until 2026. 

In November 2016, BEP Director Leonard R. Olijar said that a priority was having, by Aug. 18, 2020, the new $10 note ready for production, along with final design concepts for the $5 and $20 notes. The target date was the centennial of the signing of the 19th Amendment.

Olijar said in 2016 that the BEP and Federal Reserve were working to speed up the usual time line so all three notes could enter circulation as quickly as possible while still satisfying security requirements. 

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