# United States five-dollar bill

The United States five-dollar bill is a [Federal Reserve](https://www.edgepedia.org/federal-reserve) note bearing a portrait of President Abraham Lincoln on the front and, since 1929, the [Lincoln Memorial](https://www.edgepedia.org/lincoln-memorial) on the back; the current design entered circulation on March 13, 2008, with light purple and gray background colors and a blue-glowing security thread.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> It is the lowest denomination with a security thread and microprinting, features that the $1 and $2 notes never received when they were introduced in the 1990s.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup>

| Key fact | Detail |
|---|---|
| Portrait and vignette | Abraham Lincoln front; Lincoln Memorial back, unchanged in subject since the 1929 standardization<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> |
| Current design | Issued March 13, 2008; series years 2006, 2009, 2013, 2017, and 2021<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> |
| Size | 6.14 x 2.61 inches, about 30 percent smaller than the pre-1929 7.375 x 3.125 inches<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> |
| Lifespan | 5.8 years as of May 2025, versus 7.2 for the $1, 11.1 for the $20, and 24.0 for the $100<sup>[2](https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)</sup> |
| Circulation value | $14.8 billion in circulation in 2017; FY 2018 print order of 825.6 million notes<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> |
| Counterfeiting | Estimated counterfeit stock of about $0.04 million in FY 2023, down from $0.09 million in 2012<sup>[3](https://www.federalreserve.gov/econres/ifdp/files/ifdp1404.pdf)</sup> |
| BEP average manufacturing cost | $66.97 per 1,000 notes across denominations in FY 2024, about 6.7 cents per note<sup>[4](https://www.bep.gov/system/files/documents/FY24%20BEP%20Financial%20Statements%20Final%20w%20KPMG%20Auditors%27%20Report.pdf)</sup> |

## Security features and how they work

**The security thread** is embedded vertically in the paper to the right of the portrait. It is imprinted with the letters USA and the numeral 5 in an alternating pattern, is visible from both sides of the note, and glows blue under ultraviolet light.<sup>[5](https://www.uscurrency.gov/sites/default/files/downloadable-materials/files/en/5-2008-present-features-en-2022.pdf)</sup>

**Two watermarks** sit in the paper on either side of the portrait: a vertical pattern of three numeral 5s to the left and a single large numeral 5 to the right. Both are visible from both sides when the note is held to light.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup>

**Microprinting** appears in several locations: FIVE DOLLARS in the borders of the note, E PLURIBUS UNUM atop the Great Seal shield, and USA FIVE along the edge of the large purple numeral 5 on the back.<sup>[5](https://www.uscurrency.gov/sites/default/files/downloadable-materials/files/en/5-2008-present-features-en-2022.pdf)</sup>

**The paper** is itself a feature: Federal Reserve note paper is one-fourth linen and three-fourths cotton, with red and blue security fibers distributed throughout.<sup>[5](https://www.uscurrency.gov/sites/default/files/downloadable-materials/files/en/5-2008-present-features-en-2022.pdf)</sup> A July 6, 2023 [Federal Register](https://www.edgepedia.org/federal-register) rule formalizes this definition, describing a cream-white note paper with red and blue fibers evenly distributed, and lists permissible counterfeit deterrents including security threads bearing USA and the denomination, optically variable inks, and non-visual characteristic inks.<sup>[6](https://www.federalregister.gov/documents/2023/07/06/2023-14204/distinctive-paper-and-distinctive-counterfeit-deterrents-for-united-states-federal-reserve-notes)</sup>

**Accessibility and feature levels.** A large purple numeral 5 on the back helps people with visual impairments identify the denomination.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> The Congressional Research Service describes a three-level framework: Level 1 features visible to holders (background colors, embedded ribbons, microprinting), Level 2 features for machine authentication by banks, point-of-sale systems, and ATMs, and Level 3 covert features that the Treasury and the [Bureau of Engraving and Printing](https://www.edgepedia.org/bureau-of-engraving-and-printing) do not publicly discuss.<sup>[7](https://www.congress.gov/crs_external_products/IF/HTML/IF11414.web.html)</sup>

## By the numbers

**Lifespan and volume.** The Federal Reserve estimates the $5 note's lifespan at 5.8 years as of May 2025, close to the $10 note's 5.7 years and well below the $20's 11.1, the $50's 14.9, and the $100's 24.0 years.<sup>[2](https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)</sup> The $5 note's value in circulation was $14.8 billion in 2017, and the FY 2018 print order was 825.6 million notes.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup> The Bureau of Engraving and Printing printed 748.8 million $5 notes in calendar 2024 and 719.6 million in calendar 2025.<sup>[8](https://www.bep.gov/currency/production-figures/annual-production-reports/)</sup>

**Production cost.** BEP's actual manufacturing cost rose from $56.19 per 1,000 notes in FY 2020 to $66.97 in FY 2024, driven by inflation, decreasing order volume, and demand for higher denominations requiring more security features; FY 2024 production was 5.7 billion notes with 7.0 percent spoilage.<sup>[4](https://www.bep.gov/system/files/documents/FY24%20BEP%20Financial%20Statements%20Final%20w%20KPMG%20Auditors%27%20Report.pdf)</sup>

**Counterfeiting.** Federal Reserve processing data imply a stock of counterfeit $5 notes in domestic circulation of about $0.04 million in fiscal 2023, down from $0.09 million in 2012 and far below the $20 bill's $0.3 million.<sup>[3](https://www.federalreserve.gov/econres/ifdp/files/ifdp1404.pdf)</sup> Across all denominations, the Secret Service recorded $102 million in counterfeit currency passed worldwide in fiscal 2023, against roughly $2.3 trillion in banknotes in circulation; total counterfeits in circulation are estimated at about $15 million, roughly 1 in 80,000 genuine notes, and unlikely to exceed $30 million, about 1 in 40,000.<sup>[3](https://www.federalreserve.gov/econres/ifdp/files/ifdp1404.pdf)</sup> A National Academies consensus study put the overall U.S. counterfeiting rate at about 5 counterfeits per million notes circulating in 2002, with $100 notes at about 30 per million, one of the lowest rates of any major currency.<sup>[9](https://www.nationalacademies.org/read/11638/chapter/2)</sup> In 2021 the Secret Service prevented circulation of over $51.4 million in counterfeit currency and arrested 216 counterfeiters.<sup>[7](https://www.congress.gov/crs_external_products/IF/HTML/IF11414.web.html)</sup>

## How it compares with other denominations

Use patterns help explain lifespan differences across denominations. Larger denominations such as the $100 are often used as a store of value and pass between users less frequently, while lower denominations such as the $5 are used more often for transactions and wear out faster.<sup>[2](https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)</sup> The $5's 5.8-year lifespan is shorter than the $1's 7.2 years and slightly longer than the $10's 5.7 years.<sup>[2](https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)</sup>

On counterfeiting, the $5 is a minor target. Its estimated FY 2023 counterfeit stock of about $0.04 million is roughly one-eighth the $20 bill's $0.3 million, and both are dwarfed by higher denominations in the same data series.<sup>[3](https://www.federalreserve.gov/econres/ifdp/files/ifdp1404.pdf)</sup> The $100 historically ran about six times the all-denomination counterfeit rate per million notes.<sup>[9](https://www.nationalacademies.org/read/11638/chapter/2)</sup>

## Design history

**1929 standardization.** In 1929 all Federal Reserve notes were reduced about 30 percent in size, from 7.375 x 3.125 inches to 6.14 x 2.61 inches, with standardized designs per denomination; the $5's back vignette changed that year to the Lincoln Memorial, pairing the front's Lincoln portrait with the memorial.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup>

**1990s features and the 1996-series rollout.** Security threads and microprinting first appeared on Series 1990 $100 notes and by Series 1993 were on all denominations except the $1 and $2. The color redesign rollout began with the $100 in 1996, the $50 in 1997, the $20 in 1998, and the $10 and $5 in 2000.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup>

**The 2008 redesign.** The current design, issued March 13, 2008, added the light purple and gray background colors, the blue security thread, and the two watermarks; the series years carried since then are 2006, 2009, 2013, 2017, and 2021.<sup>[1](https://www.uscurrency.gov/denominations/5)</sup>

**Who controls the imagery.** Under 31 U.S.C. §5114(b), the Treasury Secretary may determine which portraits appear on currency so long as the individual is deceased, and can generally change a [Federal Reserve Note](https://www.edgepedia.org/federal-reserve-note) portrait without congressional authorization.<sup>[7](https://www.congress.gov/crs_external_products/IF/HTML/IF11414.web.html)</sup>

## Recent developments

**The 2016 plan for the $5 reverse.** On April 20, 2016, Treasury Secretary Jacob Lew announced that the reverse of the new $5 bill would honor events at the Lincoln Memorial and the prominent individuals involved in them, including [Marian Anderson](https://www.edgepedia.org/marian-anderson), Eleanor Roosevelt, and [Martin Luther King Jr.](https://www.edgepedia.org/martin-luther-king-jr), while the front keeps Lincoln; the Bureau of Engraving and Printing was directed to work with the Federal Reserve to accelerate the new $20 and $5 notes so all three redesigned notes would circulate as quickly as security requirements allowed.<sup>[10](https://home.treasury.gov/news/press-releases/jl0436)</sup>

**The next redesign family.** BEP's FY 2024 financial statements state that development of the next redesign family remains on schedule for anticipated release of the $10 in 2026, which will include new security features and a raised tactile feature for blind and visually impaired users.<sup>[4](https://www.bep.gov/system/files/documents/FY24%20BEP%20Financial%20Statements%20Final%20w%20KPMG%20Auditors%27%20Report.pdf)</sup>

**The Tubman $20 dispute.** The Tubman question is not a $5 question directly, but it sits on the same redesign calendar. CRS reported a redesigned $20 note featuring [Harriet Tubman](https://www.edgepedia.org/harriet-tubman) scheduled by BEP for issue in 2030.<sup>[7](https://www.congress.gov/crs_external_products/IF/HTML/IF11414.web.html)</sup> In a July 2026 interview, Treasury Secretary Scott Bessent said Treasury is "not at present" planning to proceed with putting Tubman on the $20; his predecessor [Janet Yellen](https://www.edgepedia.org/janet-yellen) had revived the project but estimated the new currency would not be ready until 2030 because of the need for sophisticated anti-counterfeiting measures.<sup>[11](https://www.usatoday.com/story/news/politics/2026/07/07/trump-administration-puts-plan-for-harriet-tubman-20-bill-on-ice/90840496007/)</sup> A BEP spokesperson separately said the $20 remains on track for a 2030 release but would not say whether Tubman's portrait remains part of it, and the bureau notes that a banknote redesign takes about a decade to research, test, and finalize.<sup>[12](https://spectrumlocalnews.com/us/snplus/politics/2026/04/28/no-currency--after-10-years--plan-to-place-harriet-tubman-on-the--20-bill-stalls)</sup> The proposed Harriet Tubman Tribute Act of 2025 would require Tubman's face on all $20 bills printed after December 31, 2030, with delays capped at two years unless issuance would create an unacceptable counterfeiting or economic risk,<sup>[13](https://www.nhpr.org/2025-03-10/on-harriet-tubman-day-a-new-effort-to-place-the-abolitionist-on-the-20-bill-launches)</sup> and Senators Jeanne Shaheen and [Chris Van Hollen](https://www.edgepedia.org/chris-van-hollen) have led eight senators in pressing Treasury to explain its inaction.<sup>[14](https://www.shaheen.senate.gov/news/press/shaheen-van-hollen-call-on-treasury-secretary-bessent-to-explain-inaction-on-long-overdue-harriet-tubman-20-bill-redesign)</sup>

## Collecting and value

Collector value depends on seal color (red, blue, brown, yellow, or green), series year and letter, and whether a star symbol appears in the serial number.<sup>[15](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)</sup> Representative ranges from one specialist price guide:

- Series 1928 red-seal United States Notes: $6 to $15 circulated, $25 to $90 uncirculated, with star notes $150 to $1,600 or more.<sup>[15](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)</sup>
- Series 1929 brown-seal National Bank Notes: $10 to $200 or more circulated, $100 to $3,000 or more uncirculated, with star notes $10,000 or more.<sup>[15](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)</sup>
- 1934A Hawaii emergency notes: $25 to $50 circulated, $200 to $600 uncirculated, star notes $1,500 to $5,000; 1934A North Africa yellow-seal notes run $10 to $30 circulated and $190 to $400 uncirculated.<sup>[15](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)</sup>
- The Series 1953B Silver Certificate star note is a modern rarity, often fetching over $2,500 at major auctions while the standard note is worth about $18 uncirculated.<sup>[15](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)</sup>

## References

1. [$5 Note, U.S. Currency Education Program](https://www.uscurrency.gov/denominations/5)
2. [How long is the lifespan of U.S. paper money?, Federal Reserve](https://www.federalreserve.gov/faqs/how-long-is-the-life-span-of-us-paper-money.htm)
3. [Estimating the Volume of Counterfeit U.S. Currency in Circulation (IFDP 1404), Federal Reserve](https://www.federalreserve.gov/econres/ifdp/files/ifdp1404.pdf)
4. [FY 2024 BEP Annual Financial Statements, Bureau of Engraving and Printing](https://www.bep.gov/system/files/documents/FY24%20BEP%20Financial%20Statements%20Final%20w%20KPMG%20Auditors%27%20Report.pdf)
5. [$5 Note Issued 2008 to Present, Security Features, U.S. Currency Education Program](https://www.uscurrency.gov/sites/default/files/downloadable-materials/files/en/5-2008-present-features-en-2022.pdf)
6. [Distinctive Paper and Distinctive Counterfeit Deterrents for United States Federal Reserve Notes, Federal Register (July 6, 2023)](https://www.federalregister.gov/documents/2023/07/06/2023-14204/distinctive-paper-and-distinctive-counterfeit-deterrents-for-united-states-federal-reserve-notes)
7. [CRS Report IF11414: U.S. Currency Portraits, Congressional Research Service](https://www.congress.gov/crs_external_products/IF/HTML/IF11414.web.html)
8. [Annual Production Reports, Bureau of Engraving and Printing](https://www.bep.gov/currency/production-figures/annual-production-reports/)
9. [Is That Real?: Identification and Assessment of the Counterfeiting Threat for U.S. Banknotes, National Academies Press](https://www.nationalacademies.org/read/11638/chapter/2)
10. [Treasury Secretary Lew Announces Front of New $20 to Feature Harriet Tubman, Lays Out Plans for New $20, $10 and $5, U.S. Treasury](https://home.treasury.gov/news/press-releases/jl0436)
11. [Trump administration puts plan for Harriet Tubman $20 bill on ice, USA Today](https://www.usatoday.com/story/news/politics/2026/07/07/trump-administration-puts-plan-for-harriet-tubman-20-bill-on-ice/90840496007/)
12. [After 10 years, plan to place Harriet Tubman on $20 stalls, Spectrum News](https://spectrumlocalnews.com/us/snplus/politics/2026/04/28/no-currency--after-10-years--plan-to-place-harriet-tubman-on-the--20-bill-stalls)
13. [On Harriet Tubman Day, a new effort to place the abolitionist on the $20 bill launches, NHPR](https://www.nhpr.org/2025-03-10/on-harriet-tubman-day-a-new-effort-to-place-the-abolitionist-on-the-20-bill-launches)
14. [Shaheen, Van Hollen Call on Treasury Secretary Bessent to Explain Inaction on Harriet Tubman $20 Bill Redesign, Senate](https://www.shaheen.senate.gov/news/press/shaheen-van-hollen-call-on-treasury-secretary-bessent-to-explain-inaction-on-long-overdue-harriet-tubman-20-bill-redesign)
15. [The Comprehensive Guide to $5 Bill Values: Small-Size Notes (1928–Present), Variety Errors](https://varietyerrors.com/paper-money-price-guide/5-bill-values-paper-money-price-guide/)

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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Banknotes, currency issuance, and monetary artifacts › Banknotes and note issues › Titles J to Z*

*Initially written Sep 17, 2026 · Reviewed: Sep 17, 2026; Sep 30, 2026; Oct 10, 2026 · Edited: Sep 30, 2026; Oct 10, 2026; Oct 11, 2026; Oct 15, 2026 · Last review: Oct 10, 2026*

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