Federal Government Releases New $100 Dollar Bills

Millions wasted on production of new bills.
1:54 | 10/08/13

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Transcript for Federal Government Releases New $100 Dollar Bills
And next tonight, our washington watch dog is back. Today the federal government introduced its $100 bill, a bold new look, even a 3-d image but abc news david kerley explains how the government managed to lose money while making money. You can see the movement -- Reporter: Here it is, the new $100 delivered across the country today. There is a lot to see. A 3-d hologram ribbon, the liberty bell and ifrk well that changes color and micro printing on its color. What u.S. Officials aren't saying is that all this high tech anti-counterfeiting came at a high price. More than a billion are in storage rejected because there were creases on the front and back and too much ink used on another 300,000 bills. There were major screwups at the bureau. People screwed it up. They wasted your money. Reporter: Government investigators say the bureau of printing and engraving didn't do enough testing of p printing presses. So we went to the director. We will have to do something. Reporter: Getting rid of money costs money, a lot. The bureau can't give us a number but using their estimates, it could be as much as $50 million or more. It has presented a significant challenge to manufacture this note, but we took the time to get it right. With all due respect, millions and millions of dollars are down the drain. I don't want to see a substandard note that goes out in circulation and I don't think the american public wants to see that. Reporter: A printer himself might have been impressed with this new bill but his famous quote offers a scolding, waste nothing. David kerley abc news, washington.

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