Cashless Vs. Track Cash

FRB.Mail@frb.gov	Jun 4

Dear Mr. Intense:

Thank you for your recent correspondence in which you suggested that serial numbers on Federal Reserve notes should be a barcode in order to be tracked in real time.

While we appreciate receiving your suggestion, please know that, while the Federal Reserve Banks and their branches are responsible for the circulation of paper currency and coin, the agency that designs and prints Federal Reserve notes is the Bureau of Engraving and Printing. The Secretary of the Treasury usually selects the designs shown on United States currency and coinage. Unless specified by an Act of Congress, the Secretary generally has the final approval. This is done with the advice of Bureau of Engraving and Printing officials for currency or the United States Mint officials for coins. You may wish to write to that agency for additional information. The web address is: http://moneyfactory.gov/

I hope this information is helpful. Again, thank you for taking the time to share your thoughts with us.

Sincerely,
Board Staff

Original Email Content:

    Following is the original e-mail received:

    E-mail Content:

    Instead of moving to a cashless society now, wouldn't it make more sense to have the serial number on an FRN be a barcode that would be scanned at registers so all sales could be tracked real-time?
 After so many years of acclimation the FRN's can then be assigned to an individual when they receive them either from a teller or store via an ID scan. Special free of charge ATM kiosks/phone apps could facilitate the transfer assignment from individual to individual (this way it will track non POS transactions).
 In 10 or 15 years after that society might then be ready for all electronic or at least a required finger/thumb swipe. Create the inconvenience problem, wait for the people to react, then offer them a solution that will move them closer to the endgame.