Definition of grade C


What is a C-Note?

C-note is a slang term for a $ 100 bill in US currency. The “C” in C-note refers to the Roman numeral 100, which was printed on $ 100 bills, and can also refer to a century. The term rose to prominence in the 1920s and 1930s, and was popularized in various gangster movies.

Key takeaways

  • C-note is jargon for a $ 100 bill.
  • The term is derived from the Roman numeral “C” for 100.
  • The $ 100 bill once had a capital “C” in its upper left corner.

How a C-Note works

The note C is used less frequently in contemporary slang and has been replaced by “Benjamin”. This term comes from Benjamin Franklin, one of the founding fathers of the USA, whose portrait is on the front of the $ 100 bill. Other slang terms for a $ 100 bill are therefore “Franklins” and “Bens”.

The evolution of C grades

The $ 100 bill featured a capital “C” in its upper left corner from 1869 to 1914, denoting the Roman numeral for 100. In 1914, the United States government introduced Federal Reserve bills to replace Treasury bills. older. The 1878 and 1880 editions featured a portrait of Abraham Lincoln on the left. The 1890 version of the C note featured Admiral David Farragut on the right side. On the back of the Farragut bills there were two zeros that looked like watermelons, hence the nickname “watermelon bills.”

Contemporary $ 100 bills

Contemporary $ 100 bills feature an enlarged portrait of Franklin on the front and a “100” on each corner. The “100” in the lower right corner changes color depending on the angle the light hits it. A 3-D blue motion strip runs down the middle to try to avoid counterfeiting, and a watermarked portrait of Franklin appears on the right side when the bill is held up to the light. The $ 100 bill has been the largest printed demonstration since 1969. The largest bills, such as the $ 500, $ 1,000, $ 5,000, and $ 10,000 bills, were previously withdrawn.

Special Considerations

The estimated useful life of a $ 100 bill is around 23 years, if it stays in circulation for that long. In contrast, the average useful life of a $ 1 bill is only 6.5 years. It is estimated that approximately 80% of the $ 100 bills in circulation circulate outside of the United States.

In 2020 there were around 16.4 billion $ 100 bills in circulation, valued at around $ 1.64 trillion. About 13 billion $ 1 bills are in circulation, which is below the number of $ 100 bills. The number of C bills in circulation has more than quintupled since 1995. The increase in usage is said to be of $ 100 bills is the result of growing distrust of the financial system, with more people choosing to keep their assets out of the system.

The Federal Reserve System distributes $ 100 bills as the need for this currency value runs in cycles. Demand peaks during the winter holidays and the Lunar, or Chinese New Year, because crisp C notes make good gifts inside greeting cards. When the redesigned $ 100 bills came out in 2013, 28 reserve bank cash offices stored 3.5 billion bills. Those notes reached about 9,000 banks when the renewed C notes first entered circulation.

www.investopedia.com

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Mark Holland

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