What is the Bureau of Engraving and Printing (BEP)?
Government agency within the US Department of Treasury. The BEP produces counterfeit deterrent paper money through educating the public to recognize BEP authorized designs and incorporating security features into the bills.
The primary goal of The Bureau of Engraving and Printing is to create American currency notes. The agency also processes claims for the redemption of damaged currency. Every year the BEP prints Federal Reserve notes, called dollars, to be used and circulated by the Federal Reserve System. The Federal Reserve functions as the United States’ central bank and ensures the U.S. economy continues to run efficiently by ensuring enough currency is in circulation.
Besides this primary function, the BEP designs multiple security products for the government.
The BEP production includes the following security items:
- Military commissions
- Treasury securities
- Invitations
- Identifications cards,
- Admission cards
The BEP owes its origins to legislation enacted during the Civil War. In 1861, Congress gave the Secretary of the Treasury authority to create government IOU’s in the form of paper currency, to raise the money needed to fund the Civil War. However, currency creation within the Treasury was not formally organized. Later in 1863, in order to give the currency creation process structure and organization, Congress created the Office of Comptroller of the Currency Bureau. All currency processing was reorganized under that agency and named the “First Division, National Currency Bureau”, the precursor to the BEP. The BEP was made an official agency by congressional legislation in 1874.
The BEP is only responsible for U.S. dollar notes, not coins. Coins are only struck by the United States Mint. The BEP also acts as a federal agency advisor on matters related to document security. The BEP has a research and development arm as well, with work focused on technological advancements. Specifically automation, and technologies that safeguard against counterfeiting.
What people ask…
What time does the Bureau of Engraving and Printing Open?
Can you tour the Bureau of Engraving and Printing?
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What are some ways counterfeit money can be detected?
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