Optically Variable Thread (OVT) Overt Security Feature for NXG $100 Banknote

The Department of the Treasury, Bureau of Engraving and Printing (BEP) has issued a sole-source award notice to Crane & Co., Inc. for the Optically Variable Thread (OVT) overt security feature. This specific technology serves as a critical security component for the Next Generation (NXG) $100 Federal Reserve Note, having been vetted and approved by the Department of the Treasury, the Federal Reserve Board, and the United States Secret Service. The Secretary of the Treasury determined that this technology satisfies the departmental requirements for standardization of currency security.

This negotiated acquisition, identified by solicitation number 2031ZA19R00004, is a follow-on sole-source action conducted under the authority of 41 U.S.C. 3304(a)(1). The contract includes a special provision for a performance period exceeding five years, establishing a total ordering period of ten years. The award rationale is based on Crane & Co., Inc. being the only responsible source capable of satisfying the agency's stringent requirements for the OVT security feature.

The procurement is classified under NAICS code 322121 and PSC code 99. Administrative details and the justification for the acquisition were published on October 31, 2019, with Antonio Sixon serving as the point of contact. One attachment, a redacted justification and approval document for the ten-year acquisition, is associated with this notice.