U.S. Bureau of Engraving and Printing (BEP) Definition
The U.S. Bureau of Engraving and Printing (BEP) is a government agency that designs, develops and produces paper currency and treasury securities in the United States. This agency is responsible for producing a range of security products such as the U.S currency notes. Security products and paper currency produced by the BEP in United States from federal Reserve Notes for the nation’s central bank. Hence, the government of the United States rely on this agency for the design and printing of its currencies that are trusted worldwide.
A Little More on What is the U.S. Bureau of Engraving and Printing
The U.S. Bureau of Engraving and Printing (BEP) There is a number of treasury securities or currency paper notes) that BEP must deliver to the United State’s Federal Reserve System. If the delivery is not met or inadequate, it can result in shortage of currency in circulation at a period of time. Aside from the production of security products, BEP renders advice service to the government on issues related to document security matters.
The security products or treasury securities that the Bureau of Engraving and Printing develops and produces are called Federal Reserve Notes which are found in the nation’s central bank. BEP does not produce coins, the United States Mint is the agency responsible for coin production.
The BEP was established in 1862, but by 1877, this agency became the only manufacturer of the U.S currency, including revenue stamps and other security documents. When the design and production of postage stamp was added to the duties of BEP in 1984, it assumed the position of the nation’s sole security printer.
For the BEP to execute its duties effectively, it requires a lot of workmanship, professional engravers, designer, equipment and facilities as well as modern technologies. The BEP has its printing facilities located at Texas, Washington DC and Fort Worth. All designs of BEP go through the secretary of Treasury for approval or disapproval as the case may be. Each currency or sheet produced by BEP is also accounted for because the currency notes are shrink-wrapped before they are transferred to the Federal Reserve Banks.
References for US Bureau of Engraving and Printing
Academic Research on U.S. Bureau of Engraving and Printing (BEP)
Accountants and emerging technologies: A case study at the United States Department of the Treasury Bureau of Engraving and Printing, Gelinas Jr, U. J., & Gogan, J. L. (2006). Journal of Information Systems, 20(2), 93-116.
Opportunities and Challenges of the US Dollar as an Increasing Global Currency: A Federal Reserve Perspective, Lambert, M. J., & Stanton, K. D. (2001). Fed. Res. Bull., 87, 567.
Automated inspection of intaglio plate measurement for US currency, Grimsley, M., Hess, J. E., Poulsen, M., Rankin, K., Curtis, D., & Bayer, D. (2002, April). In Optical Security and Counterfeit Deterrence Techniques IV (Vol. 4677, pp. 400-409). International Society for Optics and Photonics.
Beyond the merit model: new directions at the federal workplace?, Doeringer, P. B., Kaboolian, L., Watkins, M., & Watson, A. (1996). Public sector employment: In a time of transition.
Bacterial contamination of paper currency, Pope, T. W. C., Ender, P. T., Woelk, W. K., Koroscil, M. A., & Koroscil, T. M. C. (2002). Southern medical journal, 95(12), 1408-1411.
Lincoln’s Greenback Mill: Civil War Financing and the Start of the Bureau of Engraving and Printing, 1861-1863, Noll, F. (2009). Fed. Hist., 1, 25.
The Color of Money: Race and Fair Employment in the Bureau of Engraving and Printing, 1945–1955, Rung, M. C. (2016). Journal of Policy History, 28(2), 221-255.
Technology approaches to currency security, Murphy, J. C., Dubbel, D. C., & Benson, R. C. (1998, April). In Optical Security and Counterfeit Deterrence Techniques II (Vol. 3314, pp. 21-26). International Society for Optics and Photonics.
Central banks and their banknote series: The efficiency–cost trade-off, Bouhdaoui, Y., Bounie, D., & Van Hove, L. (2011). Economic Modelling, 28(4), 1482-1488.
Analysis of counterfeits and public survey results as design input, Church, S. E., & Setlakwe, L. (2004, June). In Optical Security and Counterfeit Deterrence Techniques V(Vol. 5310, pp. 63-74). International Society for Optics and Photonics.
Currency and coin management: A comparison of American and Brazilian models, Campos, F. J. B. (2004).