A Record Number of $50 Bills Were Printed in the US
New York (CNN) – In a year rife with financial uncertainty brought on by the pandemic, a record number of $50 bills were printed in the United States. In 2022, the government printed 756,096,000 of those bills, representing the highest total of denominations printed in one year in more than 40 years.
The ongoing pandemic led to an increase in cash hoarding by Americans, resulting in a surge in the demand for $50 bills. The Federal Reserve took note of the unprecedented currency demand, prompting an order for a considerable increase in the denomination.
While the $50 bill is an unusual and somewhat unpopular denomination, it became more prevalent in printed bills last year. There are even superstitious beliefs that consider the $50 bill to bring bad luck, which may have contributed to its unpopularity.
The Federal Reserve’s printing order in 2022 was heavily influenced by the COVID-19 pandemic as people began hoarding cash due to economic and geopolitical uncertainty. This increase in demand led to an increase in the orders for $50 bills.
However, printing levels have since returned to normal as the Federal Reserve released its printing orders for 2023 and 2024, showing a significant decrease from the high printing levels in 2022.
The overall increase in the printing of $50 bills during the pandemic and concerns regarding the denomination can be seen as a reflection of the economic and financial fears that have permeated society during the ongoing pandemic.