The U.S. Department of the Treasury's Bureau of Engraving and Printing (BEP) awarded a $1.683 billion indefinite-delivery/indefinite-quantity (IDIQ) contract to Crane & Co., Inc.'s Crane Currency division, the sole supplier of U.S. currency paper. The contract covers the provision of distinctive currency paper, non-distinctive banknote paper, optical variable window security threads, and other specialized materials essential for the production of Federal Reserve notes and supporting the BEP's counterfeit deterrence initiatives. The BEP regularly issues firm-fixed-price delivery orders under this IDIQ for specific quantities of paper products, security threads, and test samples, with no set-aside designation, given Crane Currency's unique technical capabilities as the sole source. Additional IDIQ contracts valued at $270 million have been awarded to Crane Currency to supply optical variable security threads through 2029.
The materials produced at Crane Currency's facilities in Dalton, Massachusetts and Saginaw, Texas support the BEP's ongoing currency manufacturing operations as well as research and development for future Next Generation currency redesigns. The contracted products include distinctive currency paper in 32-subject and 50-subject formats, non-distinctive banknote paper, and various test samples incorporating advanced security features to deter counterfeiting. The BEP relies on Crane Currency's specialized expertise and manufacturing capacity to maintain the integrity and security of U.S. currency.
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