(Earlier, the guest question was incorrectly attributed to Mr. Rajib Phukan instead of Sumit. Our apologies to both.)
The typical life of these is about 7.5 years before wear and tear demands replacement. The first ones were issued in 1862 and since then many "series" of these have been issued. More than two-thirds of these circulate outside of the United States. The latest one (released in October 2013) costs 12.6 cents to produce.
What are we talking about?
This day last year: Q.749