United States twenty-dollar bill
The United States twenty-dollar note, also referred to as the United States twenty-dollar bill, is a denomination of U.S. currency. A portrait of Andrew Jackson, the seventh U.S. president, has been featured on the obverse of the note since 1928; the White House is featured on the reverse. Jackson's portrait on the twenty-dollar note has been noted as ironic, given his well-known opposition to the Second Bank of the United States and his broader resistance to central banking.
As of December 2018, the average life of a $20 note in circulation is 7.8 years before it is replaced due to wear. Twenty-dollar notes are delivered by Federal Reserve Banks in violet straps.
History
Large-sized notes
- The back is printed green.
- The back has several small variations.
- The reverse has a $20 gold coin and various abstract elements. The back is orange.
- The back design is green.
- The back design is black.
- The back is orange and features an eagle.
- The front is similar, but the back is different and printed in brown.
- Two different backs exist both with abstract designs.
- The front features Hugh McCulloch, and the back has a vignette of an allegorical America.
- The back design is orange.
Small size notes
Andrew Jackson has appeared on the $20 note since the series of 1928. The placement of Jackson on the $20 note is considered ironic; as president, he vehemently opposed both the National Bank and use of paper money. After the president of the Second Bank of the United States, Nicholas Biddle, defied Jackson and requested the renewal of the charter of the Second Bank in an election year, Jackson responded by making it a goal of his administration to destroy the National Bank. Jackson prevailed over Biddle, and the absence of the Second Bank contributed to a real estate bubble in the mid-1830s. The bubble collapsed in the Panic of 1837, leading to a deep depression.Given Jackson's opposition to the concept of a National Bank, his presence on the $20 note was controversial from the start. When pressed to reveal why the various images were chosen for the new notes, Treasury officials denied there was any political motivation. Instead, they insisted that the images were based only on their relative familiarity to the public. An article in the June 30, 1929 issue of the New York Times, stated "The Treasury Department maintains stoutly that the men chosen for small notes, which are naturally the ones in most demand, were so placed because their faces were most familiar to the majority of people." It is also true that 1928 coincides with the 100th anniversary of Jackson's election as president, but no evidence has surfaced that would suggest that this was a factor in the decision. According to more recent inquiries of the U.S. Treasury: "Treasury Department records do not reveal the reason that portraits of these particular statesmen were chosen in preference to those of other persons of equal importance and prominence."
- 1914: Began as a large-sized note, a portrait of Grover Cleveland on the face, and, on the back, a steam locomotive and an automobile approaching from the left, and a steamship approaching from the right.
- 1928: Switched to a small-sized note with a portrait of Andrew Jackson on the face and the south view of the White House on the reverse. The banknote is redeemable in gold or silver at any Federal Reserve Bank.
- 1933: With the U.S. having abandoned the gold standard, the note is no longer redeemable in gold, but rather in "lawful money", meaning silver.
- 1942: A special emergency series, with brown serial numbers and "HAWAII" overprinted on both the front and the back, is issued. These notes were designed to circulate on the Hawaiian islands and could be rendered worthless in the event of a Japanese invasion.
- 1948: The White House rendering on the reverse of the note was updated to reflect renovations to the building itself, including the addition of the Truman Balcony, as well as the passage of time. Most notably, the trees are larger. The change occurred during production of Series 1934C.
- 1950: Design elements such as the treasury and Federal Reserve seals are reduced in size and repositioned subtly, presumably for aesthetic reasons.
- 1963: "Will Pay To The Bearer On Demand" is removed from the front of the note and the legal tender designation is shortened to "This note is legal tender for all debts, public and private" Also, [United States national motto|] is added above the White House on the reverse. These two acts are coincidental, even if their combined result is implemented in one redesign. Also, several design elements are rearranged, less perceptibly than the changes in 1950, mostly to make room for the slightly rearranged obligations.
- 1969: The new treasury seal appears on all denominations, including the $20 note.
- The old presses are gradually retired, and old-style serial numbers appear as late as 1981 for this denomination.
- Production of Series 1990 notes began in April 1992.
- 1994: The first $20 notes produced at the Western Currency Facility in Fort Worth, Texas are printed in January 1994, late during production of Series 1990.
- 1998: The Series 1996 $20 note was completely redesigned for the first time since 1929 to further deter counterfeiting; A larger, off-center portrait of Jackson was used and the view of the White House on the reverse of the note was changed from the south portico to the north. Several new anti-counterfeiting features were added, including color-shifting ink, microprinting, and a watermark. The plastic strip now reads "USA 20" and glows green under a black light. Production of Series 1996 $20 notes began in June 1998.
- 2003: The redesigned Series 2004 20 dollar note is released with light background shading in green and yellow, and no oval around Andrew Jackson's portrait ; the reverse features the same view of the White House, but without an oval around it. Ninety faint "20"s are scattered on the back in yellow à la the "EURion constellation" to prevent photocopying. Production of Series 2004 $20 notes began in April 2003.
Series dates
Small size
| Type | Series | Treasurer | [United States United States Secretary of the Treasury|Secretary of the Treasury|Secretary] | Seal |
| Gold Certificate | 1928 | Woods | Mellon | Gold |
| Federal Reserve Note | 1928 | Tate | Mellon | Green |
| Federal Reserve Note | 1928A | Woods | Mellon | Green |
| Federal Reserve Note | 1928B | Woods | Mellon | Green |
| Federal Reserve Note | 1928C | Woods | Mills | Green |
| Federal Reserve Note | 1934 | Julian | Morgenthau | Green |
| Federal Reserve Note | 1934 Hawaii | Julian | Morgenthau | Brown |
| Federal Reserve Note | 1934A | Julian | Morgenthau | Green |
| Federal Reserve Note | 1934A Hawaii | Julian | Morgenthau | Brown |
| Federal Reserve Note | 1934B | Julian | Vinson | Green |
| Federal Reserve Note | 1934C | Julian | Snyder | Green |
| Federal Reserve Note | 1934D | Clark | Snyder | Green |
| Federal Reserve Note | 1950 | Clark | Snyder | Green |
| Federal Reserve Note | 1950A | Priest | Humphrey | Green |
| Federal Reserve Note | 1950B | Priest | Anderson | Green |
| Federal Reserve Note | 1950C | Smith | Dillon | Green |
| Federal Reserve Note | 1950D | Granahan | Dillon | Green |
| Federal Reserve Note | 1950E | Granahan | Fowler | Green |
| Federal Reserve Note | 1963 | Granahan | Dillon | Green |
| Federal Reserve Note | 1963A | Granahan | Fowler | Green |
| Federal Reserve Note | 1969 | Elston | Kennedy | Green |
| Federal Reserve Note | 1969A | Kabis | Connally | Green |
| Federal Reserve Note | 1969B | Bañuelos | Connally | Green |
| Federal Reserve Note | 1969C | Bañuelos | Shultz | Green |
| Federal Reserve Note | 1974 | Neff | Simon | Green |
| Federal Reserve Note | 1977 | Morton | Blumenthal | Green |
| Federal Reserve Note | 1981 | Buchanan | Regan | Green |
| Federal Reserve Note | 1981A | Ortega | Regan | Green |
| Federal Reserve Note | 1985 | Ortega | Baker | Green |
| Federal Reserve Note | 1988A | Villalpando | Brady | Green |
| Federal Reserve Note | 1990 | Villalpando | Brady | Green |
| Federal Reserve Note | 1993 | Withrow | Bentsen | Green |
| Federal Reserve Note | 1995 | Withrow | Rubin | Green |
| Federal Reserve Note | 1996 | Withrow | Rubin | Green |
| Federal Reserve Note | 1999 | Withrow | Summers | Green |
| Federal Reserve Note | 2001 | Marin | O'Neill | Green |
| Federal Reserve Note | 2004 | Marin | Snow | Green |
| Federal Reserve Note | 2004A | Cabral | Snow | Green |
| Federal Reserve Note | 2006 | Cabral | Paulson | Green |
| Federal Reserve Note | 2009 | Rios | Geithner | Green |
| Federal Reserve Note | 2013 | Rios | Lew | Green |
| Federal Reserve Note | 2017 | Carranza | Mnuchin | Green |
| Federal Reserve Note | 2017A | Carranza | Mnuchin | Green |
| Federal Reserve Note | 2021 | Malerba | Yellen | Green |
Proposed redesigns of the 20 dollar note
In a campaign called "Women on 20s", selected voters were asked to choose three of 15 female candidates to have a portrait on the note. The goal was to have a woman on the note by 2020, the centennial of the 19th Amendment which gave women the right to vote. Among the candidates on the petition were Harriet Tubman, Eleanor Roosevelt, Rosa Parks, and Wilma Mankiller, the first female chief of the Cherokee Nation.On May 12, 2015, Tubman was announced as the winning candidate of that "grassroots" poll with more than 600,000 people surveyed and more than 118,000 choosing Tubman, followed by Roosevelt, Parks and Mankiller.
On June 17, 2015, Treasury Secretary Jack Lew announced that a woman's portrait would be featured on a redesigned note by 2020, replacing Alexander Hamilton. However, that decision was reversed, at least in part due to Hamilton's surging popularity following the hit Broadway musical Hamilton.
On April 20, 2016, Lew officially announced that Alexander Hamilton would remain on the note, while Andrew Jackson would be replaced by Tubman on the front of the note, with Jackson appearing on the reverse. Lew simultaneously announced that the five- and ten-dollar notes would also be redesigned in the coming years and put into production in the next decade. However, as the $20 note was not scheduled to be replaced until after the $10 note, this moved the production date of the referenced note containing Tubman back, frustrating supporters of placing a woman on a note. Secretary Lew reiterated that the $10 note would be redesigned first.
Trump administration (during first presidency)
While campaigning for president, Donald Trump responded to the announcement that Tubman would replace Jackson on the twenty-dollar note. The day following the announcement Trump called Tubman "fantastic", but stated that he would oppose replacing Jackson with Tubman, calling the replacement "pure political correctness", and suggested that Tubman could perhaps be put on another denomination instead.On August 31, 2017, Treasury Secretary Steven Mnuchin said that he would not commit to putting Tubman on the twenty-dollar note, explaining "People have been on the notes for a long period of time. This is something we'll consider; right now we have a lot more important issues to focus on." According to a Bureau of Engraving and Printing spokesperson, the next redesigned note will be the ten-dollar note, not set to be released into circulation until at least 2026.
In May 2019, Mnuchin stated that no new imagery for the new 2028 $20 note would be unveiled until 2026. He also reaffirmed that the new $20 note would not be moved up ahead of the new $10 or $50 notes due to counterfeiting security concerns regarding the $10 and $50 notes. Mnuchin would not say whether he supported keeping Tubman on the redesigned $20 note. He said that the decision will be left to whoever is Treasury secretary in 2026. Democratic members of the House of Representatives asked Mnuchin to provide more specific reasons for the design release delay. The production date of the new $20 note, 2028, was unchanged from the timeline announced in 2016 by the Obama administration. The Director of the BEP, Len Olijar, released a statement saying that the "BEP was never going to unveil a note design in 2020" and that the illustration used by the New York Times was not a new $20 note. Later in June, the Treasury Department's acting inspector general, Rich Delmar, sent a letter to Senate Majority Leader Chuck Schumer stating that his office would investigate the issue.
In June 2020, the Office of Inspector General released a report detailing the results of its investigation, which concluded that the $20 note's position in the redesign sequence had not changed, that the earlier announcement of the 2020 date by the Obama administration "was made outside of the note development governance structure and without the recommendation of the ACD", that the $10 note redesign set to precede the $20 redesign had already been delayed to no earlier than 2026 by 2016, and that the $20 note had not yet entered the banknote design process and was not expected to be production-ready until 2030.