US Bureau of Engraving and Printing - Explained
What is the US Bureau of Engraving and Printing?
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Table of ContentsWhat is the U.S. Bureau of Engraving and Printing?What Does the U.S. Bureau of Engraving and Printing Do?
What is the U.S. Bureau of Engraving and Printing?
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 nations 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.
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What Does the U.S. Bureau of Engraving and Printing Do?
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 States 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 nations 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.