> > > >
For release: September 22, 2004
Contacts: Kathy Dibling, 215-574-4119, Federal Reserve Bank of Philadelphia;
Amy Bielicki, 215-925-6104, Independence Visitor Center
PHILADELPHIA - The redesigned $50 will make its debut in the tri-state area at the Independence Visitor Center on Tuesday, September 28, the day of its release into circulation nationwide.
Philadelphia Federal Reserve's Cash Officer Michelle Scipione will spend the new $50 purchasing a Philadelphia City Pass from Independence Visitor Center President and CEO William W. Moore. Philadelphia City Pass is an all-in-one ticket to several attractions in the Philadelphia area. The event, which is open to the media and public, will be held at 11:30 a.m. in the north end of the Visitor Center.
The new $50 is colorful and includes upgraded security features to prevent counterfeiting. "Improved currency designs have kept counterfeiting at low levels. We want the public to know how to use the security features to protect their hard-earned money," Scipione said. She will discuss the easy-to-check security features and new design elements.
Design enhancements include the addition of red and blue, and symbols of freedom such as stars and stripes. Counterfeit deterrent measures include a security strip, color-shifting ink, and a watermark. The vertical strip of plastic spelling out the denomination in tiny print and a faint image of the portrait are visible when held up to the light. When the note is tilted, the numeral in the lower-right corner on the face of the note changes color from copper to green.
"Tourism is a major economic indicator for the Philadelphia region. The Independence Visitor Center is widely recognized as the first stop for information, history and adventure in the Philadelphia region. We are pleased to have a role in increasing public awareness of the new currency," Moore said.
The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware by supplying cash to these banks and thrifts, supervising them, collecting and processing about 5 million checks daily, wiring money and securities nationwide, as well as participating in the broader objective of monetary policy. For more information about the Bank, visit http://www.philadelphiafed.org.
The Independence Visitor Center, located at Sixth and Market streets, features several planning exhibits and visitor amenities, including trip planning services, on-site ticketing for area attractions, free orientation and historical films, attraction displays, and regional maps.
The Independence Visitor Center Corporation is the primary point of orientation for residents and visitors to Independence National Historical Park, the City of Philadelphia, and the surrounding area. Open daily 8:30 a.m.-5:00 p.m. For more information, call 215-965-7676 or 800-537-7676 or visit www.independencevisitorcenter.com.