For immediate release:

Contact:
Kristin Aguilera
Museum of American Financial History
Communications Director
212-908-4695
kaguilera@financialhistory.org

Finance Museum To Launch Exhibition on Bank Note Engraving and the Fight Against Counterfeiting

New York, New York – On February 23, the Museum of American Financial History, in association with the Smithsonian Institution, will open “Making Money: Bank Note Engraving and the Fight Against Counterfeiting,” an exhibition on the security features in currency from Colonial notes to today’s modern money.

Bank note engraving is widely considered to be the most beautiful and difficult of the engraving and printing arts, and it was created as a direct result of efforts to combat counterfeiters. The United States became a world leader in bank note engraving during the Civil War, when one-third to one-half of the currency in circulation was counterfeit. At that time, approximately 1,600 state banks designed and printed their own bills, and it was very difficult to detect counterfeits from the 7,000 varieties of genuine notes. Therefore, banks commissioned some of the country’s top artists to engrave detailed portraits and vignettes to be printed on the currency so that they would be difficult to replicate in both look and feel.

When the U.S. adopted a national currency in 1862, the government also employed bank note engravers extensively. As these notes were also counterfeited, more intricate designs and enhanced security features were added gradually over the years to stay one step ahead of counterfeiters. Because counterfeiting continues to represent a potential threat to the U.S. economy, the government’s current strategy is to introduce new currency designs every 7-10 years.

“Making Money” features counterfeit notes alongside their genuine counterparts and includes examples of fake, altered, and “raised” notes (i.e. $5 changed to $50), as well as beautifully engraved bank notes, stock certificates, travelers checks, and uncut sheets of currency from the collection of Mark D. Tomasko, the Museum’s honorary curator of engraving and a nationally renowned expert on the art of engraving.

Videos and periodic printing demonstrations on an early 19 th century “spider” press bring the process of making money to life, and visitors can observe the security features of the new currency through ultraviolet lights, magnifying glasses, and an interactive computer kiosk.

“Making Money” is sponsored by Northern Trust, one of the world’s leading financial institutions, and is presented in collaboration with the U.S. Secret Service, the U.S. Department of the Treasury, and the Bureau of Engraving and Printing.

Members of the press are invited to attend a reception to view this exhibition on February 23, 2005 from 5:00-7:00 pm. Or, to arrange for a tour of the exhibit, please call Kristin Aguilera at 212-908-4695.

“Making Money” will be on display at the Museum of American Financial History through July 30, 2005 alongside “Survival of the Fittest,” an exhibition on the Dow Jones Industrial Average. The Museum is located at 28 Broadway in Lower Manhattan and is open Tuesday through Saturday, 10 am – 4 pm. Admission is $2.

The Museum of American Financial History, an Affiliate of the Smithsonian Institution, is the nation’s only independent public museum dedicated to empowering visitors to improve their understanding of current and historical financial issues. The Museum serves members, visitors to its gallery and website, and program participants nationwide, with exhibits, events, publications, and scholarly resources. Educational programming promotes financial literacy and empowerment.

Photography: To request high-resolution images of objects in this exhibit, please e-mail kaguilera@financialhistory.org or call 212-908-4695

– Exhibit Main Page

– Press Release

– Highlights

– Download Brochure (pdf, 620kb)

– Credits