TL;DR: The 2026 U.S. banknote redesign starts with a new $10 bill that adds next-gen security and a raised tactile feature for accessibility. A joint Treasury–Federal Reserve–Secret Service program (the ACD Steering Committee) leads the rollout. Banks and cash-handling machines will need software—and in some cases hardware—updates to reliably accept the notes, even as older designs remain legal and spendable. For gold and silver investors, this is less about fiat vs. metals and more about trust in cash, liquidity at the retail level, and potential short-term frictions as equipment gets upgraded.
Why this matters to metals and money collectors right now
Redesigns don’t come often. The U.S. government says currency is updated “as necessary” to deter counterfeiting and to keep the public confident in cash. This cycle begins with the $10 note targeted for 2026 production, introducing new overt and covert features plus tactile cues for the visually impaired. That timeline is referenced across BEP/Federal Reserve materials and specialist media, which also note the extensive, multi-year testing needed so that notes work in the real world.
This is relevant for bullion buyers and coin investors because cash remains the fastest way to settle many retail trades, show purchases, and peer-to-peer deals. As of December 31, 2024, $2.323 trillion in U.S. currency was in circulation (55.4 billion notes), and Fed research finds cash is still the third-most-used payment instrument in the U.S., with an average of seven cash payments per month per consumer. In other words, the plumbing of cash acceptance still matters—especially when you’re buying or selling tangible assets.
The program behind the new notes
The redesign is coordinated by the Advanced Counterfeit Deterrence (ACD) Steering Committee, which includes Treasury, the BEP, the Federal Reserve, the broader Federal Reserve System, and the U.S. Secret Service. The BEP’s FY-2026 budget documents and BEP’s public “Currency Redesign” brief highlight two pillars of the next family: new security features and a raised tactile feature (RTF) on the $10 and subsequent denominations to improve accessibility.
Policy perspective (paraphrased from Treasury/ACD guidance): U.S. currency is redesigned to integrate unique, technologically advanced security features that deter counterfeiting while ensuring public usability and machine acceptance—core prerequisites before any note enters circulation.
What’s first, and what follows?
- $10 note: targeted for 2026 production with tactile features.
- Subsequent denominations: specialist coverage suggests a staged sequence through the early 2030s (e.g., $50, $20, $5, $100), with designs typically unveiled 6–8 months before release; exact dates can evolve as testing completes.
If you remember the 2013–2016 $100 rollout, you already know the drill: years of design, engineering, and banknote equipment manufacturer (BEM) testing precede public issuance. The CEP’s materials emphasize the critical role of education and acceptance readiness across banks, retailers, and machine makers.
Key features to expect (and why they matter)
While the agencies don’t publish the full feature set before launch, public materials and prior redesigns point to several likely elements:
- Layered overt features (e.g., motion threads, color-shift elements) for fast public checks. Giesecke+Devrient and other suppliers have showcased nanotechnology-based security threads that create crisp motion and color shifts to thwart desktop counterfeits.
- Machine-readable signals tuned for ATMs, recyclers, and counters—critical for reducing false rejects at banks and retailers.
- Raised tactile feature (RTF) on the $10, aiding the blind/low-vision community while doubling as an overt authentication cue.
- Continuity in use: Even as new designs launch, older-design notes remain legal and usable—important for commerce and collecting.
How this compares with the last big upgrade
The current $100 note’s 3-D security ribbon and Bell-in-the-Inkwell were designed for both human and machine authentication—think of the 2026+ cycle as the next turn of that crank, with newer materials and signal profiles.
The readiness question: will machines accept the notes on day one?
This is the practical risk most dealers care about. There are 10 million-plus banknote machines worldwide that process U.S. currency (from ATMs and recyclers to counters and sorters), which is why the agencies run a long optimization and integration-testing phase before release. Trade press aimed at banks warns that legacy equipment and software may need upgrades to reduce false rejects and maintain counterfeit detection performance as features change. Solution vendors (including Giesecke+Devrient) have been actively pitching readiness assessments and upgrade packages to banks.
Bottom line for the trade: Expect some regional variation in how quickly smaller institutions update their fleets. Larger banks and national retailers typically work directly with BEMs to push firmware and template updates ahead of launch.
What it means for bullion buyers and coin investors
Pros
- Higher trust in cash at the point of sale: Better anti-counterfeit tech reduces disputes and improves confidence at shows and shops.
- Accessibility win: The RTF helps visually impaired customers independently handle cash—good policy and good business.
- Counterfeit friction vs. collectible quality: Improved street-level checks can make counterfeit infiltration harder, indirectly supporting confidence in cash transactions that underpin many coin/bullion deals.
Cons / Risks
- Short-term machine hiccups: Some ATMs and counters might need updates; false rejects are inconvenient when you’re depositing show proceeds.
- Training costs: Dealers and staff must learn new features; however, CEP provides free training that cuts this learning curve.
Data check: cash is still relevant
Despite growth in digital payments, cash remains embedded in U.S. payment habits. The Federal Reserve’s 2024 Diaryshows cash held steady at seven transactions per month on average, even as total payments rose. Combined with $2.323T in currency outstanding at year-end 2024, this underlines why smooth adoption of redesigned notes matters for day-to-day liquidity in the bullion and collectibles trade.
2026 U.S. banknote redesign: practical playbook for dealers and collectors
- Book staff into CEP training. The free, ~20-minute online course covers security features and authentication best practices. Print the quick-reference posters for your cash desk.
- Talk to your equipment vendor now. Confirm firmware schedules for your ATM, recycler/TCR, and countermodels and pencil in update windows around the $10 release.
- Test deposits before show weekends. Run sample notes (once they’re available) in all devices to spot quirks early.
- Educate customers at the point of sale. Use CEP one-pagers to cut down on “this note looks different” disputes; post a sign that older designs remain valid.
- Maintain a counterfeit-response plan. Refresh policies for suspected fakes (hold the note, record details, contact authorities). CEP has guidance and reporting links.
For investors: does a better bill change the bullion thesis?
Short answer: no. Redesigned notes don’t alter the macro forces that drive gold and silver—real rates, inflation expectations, geopolitical risk. What they do is support the operational integrity of fiat cash. If anything, robust cash infrastructure makes it easier to trade physical assets when markets get jumpy. Keep your core metals allocation disciplined and treat the redesign as plumbing, not a pivot in the investment case.
Expert takes (paraphrased)
- BEP/ACD view: Redesigns are about staying ahead of counterfeiters, ensuring usability for the public, and machine acceptance for commerce.
- Bank technology view: Many institutions underestimate how much legacy systems can struggle with new security signals; proactive testing beats post-launch scrambling.
- Dealer view: “If ATMs and counters balk in the first weeks, have a manual acceptance lane and clear training for staff. The glitches pass; the notes stay.”
Frequently asked questions
Will my old notes still work?
Yes. Older designs remain legal tender and are routinely accepted alongside new designs.
When exactly will the new $10 hit my bank?
Agencies target 2026 production, with designs typically revealed 6–8 months before release. Specific distribution dates depend on testing and Federal Reserve logistics.
What new features should I look for?
Expect multiple visible and machine-readable features plus a raised tactile feature. Details are finalized close to launch to protect security and to allow industry testing.
Do banks need new machines?
Often not brand-new hardware—but they do need firmware/software updates, with some older devices requiring upgrades or replacement. Vendors are already offering readiness programs.
Is Harriet Tubman part of this redesign?
Official channels have focused on security and accessibility; recent trade coverage suggests no portrait change announcements for 2026. Final designs are disclosed months before release.
Conclusion: prepare, don’t panic
The 2026 U.S. banknote redesign isn’t a shock to the system—it’s a planned upgrade cycle aimed at counterfeit deterrence, accessibility, and reliable machine acceptance. For everyday investors and professional dealers, the playbook is simple: train up, update equipment, and communicate with customers that old notes remain valid. Do that, and you’ll move through launch season smoothly—while keeping your bullion strategy focused on the macro signals that matter.