The Bureau of Engraving and Printing is where money is made. The U.S. Department of the Treasury first issued paper currency of the United States in 1862 as a result of a shortage of coins and the need to finance the Civil War. During the Civil War period, the Bureau was called upon to print paper notes in denominations of 5 cents, 1 cent, 25 cents, and 50 cents. The reason for this is that people hoarded coins because of their intrinsic value which created a drastic shortage of circulating coins.

Since October 1, 1877, all United States currency has been printed by the Bureau of Engraving and Printing, which began as a six-person operation using steam-powered presses in the Department of the Treasury's basement.

Now 2,000 Bureau employees occupy 25 acres in two Washington, D.C buildings. Currency and stamps are designed, engraved, and printed 24 hours a day on 23 high-speed presses. An additional 600 Bureau employees are at the Western Currency Facility in Fort Worth, Texas, where currency is

printed 24 hours a day, 5 days a week, on 12 high-speed presses.

The Bureau has printed currency for the governments of the Republic of Cuba (1934), Siam (1945), Korea (1947), and the Philippines (1928).

In 1997, at a cost of 3.8 cents each, over 9.6 billion notes worth approximately $142 billion were produced for circulation by the Federal Reserve System. Ninety-five percent will replace unfit notes and five percent will support economic growth. At any one time, $200 million in notes may be in production.

Of total production, notes currently produced are the $1 (46 percent of production time), $2 (1 percent), $5 (9 percent), $10 (11 percent), $20 (19 percent), $50 (5 percent), and $100 (7 percent).

The US Government Mint