Currency strap

A stack of $10,000 straps. Note the ABA compliant mustard color.

A currency strap, also known as a currency band is a simple paper device designed to hold a specific denomination and number of banknotes. It can also refer to the bundle itself.^[1]

In the United States, the American Bankers Association or ABA has a standard for both value and color, as shown below. Note that all bills greater than $1 only come in straps of 100 count. The colors allow for quick accounting, even when the bills are stacked, such as in a vault. Special striped bands are used for straps containing only star notes.

History

Bundling money together with a simple elastic or paper device is as old as paper currency itself. However, measured and standardized straps are a relatively new idea. For example, until the mid-1970s, The US Federal Reserve counted bills by hand. That is, they employed 55 currency counters whose job it was to count as well as, by touch and feel, authenticate bills.^[1]

However, as the amount of currency in circulation increased, they found that they needed a more efficient way to count currency. To help the Currency Counting staff keep up, the Bank began strap-sorting the $1 to $20 notes. Straps were visually inspected and weighed against a counterweight equal to the paper mass of 100 genuine U.S. notes.

ABA Standard (United States)

A strap of US $2 bills, with a green strap.

Strap Color		Bill Denomination	Bill Count	Total Value
	Black	$1	25	$25
	Orange	$1	50	$50
	Blue	$1	100	$100
	Green	$1	200	$200
	Pink	$1	250	$250
	Green	$2	100	$200
	Red	$5	100	$500
	Yellow	$10	100	$1,000
	Violet	$20	100	$2,000
	Brown	$50	100	$5,000
	Mustard	$100	100	$10,000

See also

• Currency packaging

References

1. History of Currency Counting at the Federal Reserve Bank of Philadelphia