What Is a C-Word?
C-note is a slang time period for a $100 banknote in U.S. forex. The “C” in C-note refers back to the Roman numeral for 100, which was printed on $100 payments, and it may possibly additionally check with a century. The time period got here to prominence within the Twenties and Nineteen Thirties, and it was popularized in quite a lot of gangster movies.
- C-note is slang for $100 invoice.
- The time period was derived from the Roman numeral “C” for 100.
- The $100 invoice as soon as had a capital “C” in its upper-left nook.
How a C-Word Works
C-note is used much less ceaselessly in up to date slang, and it has been changed by “Benjamin.” This time period comes from Benjamin Franklin, one of many founding fathers of the U.S., whose portrait is on the entrance of the $100 banknote. Different slang phrases for a $100 invoice are subsequently “Franklins” and “Bens.”
The Evolution of C-Notes
The $100 invoice featured a capital “C” in its upper-left nook from 1869 to 1914, denoting the Roman numeral for 100. In 1914, the U.S. authorities launched Federal Reserve notes to interchange older Treasury notes. The 1878 and 1880 editions featured a portrait of Abraham Lincoln on the left. The 1890 model of the C-note featured Adm. David Farragut to the correct facet. On the backs of the Farragut banknotes had been two zeros that seemed like watermelons, therefore the nickname “watermelon notes.”
Modern $100 Payments
Modern $100 payments present an enlarged portrait of Franklin on the entrance and a “100” in every nook. The “100” within the backside proper nook modifications colour relying on what angle the sunshine hits it. A blue 3-D movement strip runs down the center to attempt to stop counterfeiting, and a watermarked portrait of Franklin seems on the correct facet when the banknote is held as much as the sunshine. The $100 invoice has been the biggest printed demonstration since 1969. Bigger payments, such because the $500, $1,000, $5,000, and $10,000 payments had been beforehand retired.
The estimated lifespan of a $100 invoice is round 23 years—if it stays in circulation for that lengthy. The common lifespan of a $1 banknote, in distinction, is simply 6.5 years. It is estimated that roughly 80% of the $100 payments in circulation flow into outdoors the U.S.
There have been round 16.4 billion $100 payments in circulation in 2020, valued at about $1.64 trillion. Round 13 billion $1 payments are in circulation, which is under the variety of $100 payments. The variety of C-notes in circulation has greater than quintupled since 1995. It is stated that the rise in the usage of $100 payments is a results of the rising distrust of the monetary system, with extra people selecting to maintain their belongings outdoors the system.
The Federal Reserve System distributes $100 payments as the necessity for this worth of forex runs in cycles. Demand peaks across the winter holidays and Lunar, or Chinese language, New Yr as a result of crisp C-notes function good presents inside greeting playing cards. When the redesigned $100 payments got here out in 2013, 28 reserve financial institution money workplaces stockpiled 3.5 billion of the banknotes. These payments went to some 9,000 banks because the revamped C-notes entered circulation for the primary time.