Revised 2023 Federal Reserve Note Print Order
On February 1, 2023, the Board of Governors approved a revision to its print order to the U.S. Treasury Department’s Bureau of Engraving & Printing for fiscal year (FY) 2023. The revised print order increases the total number of notes from a range of 4.5 billion to 8.6 billion notes to 4.6 billion to 8.7 billion notes, an increase of 1.3 to 1.4 percent. The total value of the revised order is $166.6 billion to $190.5 billion. The revised order includes additional $2 notes, given higher than expected demand. On August 9, 2022, the Board approved the original FY 2023 print order. Additional information regarding this order may be found here. On April 28, 2023, the Board approved the final revision to its FY 2023 order. Additional information regarding this revision may be found here.
The table below reflects the denominational breakdown of the original FY 2023 print order range and the revised FY 2023 print order range.
| Denomination | Revised number of notes (000s of pieces) |
Original number of notes (000s of pieces) |
Difference | |
|---|---|---|---|---|
| (000s of Notes) | (Percent) | |||
| $1 | 1,939,200 to 4,358,400 | 1,939,200 to 4,358,400 | - | 0.0% |
| $2 | 64,000 to 128,000 | 0 to 0 | 64,000 to 128,000 | N/A |
| $5 | 684,800 to 1,344,000 | 684,800 to 1,344,000 | - | 0.0% |
| $10 | 172,800 to 563,200 | 172,800 to 563,200 | - | 0.0% |
| $20 | 0 to 499,200 | 0 to 512,000 | -12,800 to 0 | -2.5% to 0.0% |
| $50 | 192,000 to 275,200 | 192,000 to 275,200 | - | 0.0% |
| $100 | 1,497,600 to 1,497,600 | 1,497,600 to 1,497,600 | - | 0.0% |
| Total | 4,550,400 to 8,665,600 | 4,486,400 to 8,550,400 | 64,000 to 115,200 | 1.3% to 1.4% |
Appendix
Chart 1
Historical FY Print Orders
Note: Starting in FY 2021, the print order was submitted as a range by denomination. The bars for FY 2021 and onward represent the number of banknotes the BEP committed to deliver in its respective fiscal year.