Currency Production & Packaging
In the United States of America, as of December 31, 2020, there was $2,040.7 billion in circulation, totaling 50.3 billion notes in volume. Every year the Federal Reserve puts in an order for new notes. More than 70% of notes in the Federal print order will be used to replace notes considered unfit for circulation. As the saying goes, money doesn’t grow on trees. In fact, the U.S. Bureau of Engraving and Printing in Washington, D.C. which prints the currency runs 24 hours a day. After the currency is printed and cut it must be stamped to be officially issued by the government. Now that the notes are official, they must be distributed to the public. Notes are counted and banded together for distribution. They are then given to the Federal Reserve bank which will distribute the legal banknotes to the public through commercial banks, credit unions, and savings and loans associations.
Batch, Count, and Band System
Enhance your currency production and packaging process with the Batch, Count, and Band System. Utilizing MFT Automation’s robust Friction Feeder, Automatic Product Loader (APL), and Shingling Conveyor the Batch, Count, and Band System increases the productivity and accuracy of the banknote production and packaging processes. MFT Automation’s powerful ip3 Series of Friction Feeders accurately count products at high speeds. The APL maximizes run times between product reloads by expanding the friction feeders’ capacity. Once a pre-set count of products has been accumulated, the pneumatic pusher securely delivers the stack of products to the bander, where the band is applied and the finished product is offloaded onto the shingling conveyor for operator removal. Our automation experts are available to help develop similar systems to meet a customer’s specific needs.
With over 25 years of experience in the industrial automation industry, MFT Automation is here to help solve your automation challenges. For further information on how to automate your currency production and packaging process, give us a call at 651-412-1873 or contact us online.