A narrow strip of See Banknote paper. or plastic band that is kept around a A banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. package of one hundred notes. A strap often has a label containing the Each individual value in a series of banknotes or coins. and total value of the package, as well as the The year in which a medal or coin was minted. On a banknote, the date is usually the year in which the issuance of that banknote - not its printing or entering into circulation - was formally authorised. and signatures of those responsible for the counting. Sometimes coloured straps are used to differentiate denominations.