WASHINGTON: NexGen will mean big bucks for at least one PR agency,
as well as new bucks for the American people. NexGen is the next
generation of currency that the Department of the Treasury is planning
to release in 2003 in hopes of foiling technically advanced
According to a Treasury department RFP draft, the government is
concerned about the use of personal computers, scanners, and color
printers to counterfeit money. As a result, it is developing an enhanced
currency design that may be in circulation as early as mid-2003.
As part of its rollout, the Treasury will look for a firm to conduct a
domestic and international public education campaign to communicate
information about the pending NexGen currency, which the Fed also refers
to as the "New Currency Design."
Conceptual currency designs have already been developed to incorporate
new anti-counterfeiting features, including what the government calls
covert, machine-readable features that will not be identified to the
According to the draft of the RFP, it is critical that all domestic and
international users and "cash handlers" of US currency be aware, through
the public education campaign, that the new currency design maintains
the security of US currency by staying ahead of advances in
It also indicates that the security features of the new currency will be
easy to recognize and use, and that all currency now in circulation will
remain valid, legal tender.
Since NexGen notes may be issued within 18 months, all target
audiences - which the government says are law enforcement bodies,
financial institutions, the general public, and vending, transit, and
gaming industries - have to be reached and educated in 2002.
A pre-bidders' conference on the RFP, held in December, was attended by
dozens of agencies.
The formal RFP is expected in February.