United States Federal Reserve Notes

Federal Reserve Notes are more commonly known as US Dollars and are the paper currency that circulates around the United States of America.

The notes are printed by the The Bureau of Engraving and Printing for the twelve reserve bank districts to be distributed into general circulation.

All United States Federal Reserve Notes are either printed at Washington D.C. (Eastern Currency Facility) or Fort Worth, Texas (Western Currency Facility).

Federal Reserve Notes were conceived in a response to the fluctuating financial issues of different banking systems within the United States.

The Federal Reserve was established as the US's central bank in 1913 when the Federal Reserve Act was passed. This created a new national banking system.

1914 Federal Reserve Notes

$10 Large Federal Reserve Note

Image Courtesy of Wikipedia

The first two series of FRN's from 1914 and 1918 were larger than the the current series and measured approximately 7.375 inches x 3.125 inches. After 1928 the notes were reduced in size to approximately 6.14 inches x 2.61 inches.

The initial batch of the new FRN's were printed in 1914 and were available in the following denominations: $5, $10, $20, $50 & $100.

The $5 bill featured Abraham Lincoln, the $10 bill featured Andrew Jackson, the $20 bill featured Grover Cleveland, the $50 bill featured Ulysses S. Grant and the $100 bill featured Benjamin Franklin.

All notes were available with either a red or blue seal and signed by Frank White (Treasurer of the U.S.) and Andrew Mellon (Treasury Secretary).

In 1918 the Federal Reserve Board started issuing FRN's in higher denominations. These included $500, $1000, $5000 & $10000.

The $10000 with a blue seal and featuring Salmon P. Chase wasn't intended for public circulation, but instead for large bank to bank transfers.

The $500 bill featured John Marshall, the $1000 bill featured Alexander Hamilton and the $5000 bill featured James Madison.

All these notes had blue seals and were signed by John Burke (Treasurer of the United States) and Carter Glass (Secretary of the Treasury).

$10000 Federal Reserve Note 1918 Series

Image Courtesy of Wikipedia

1928 Series Small Federal Reserve Notes

The 1928 series of new smaller dollar bills were created with new designs on the reverse.

They also had unique serial numbers added for the first time and a new green seal was used for all denominations.

The $5 bill features Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse.

The $10 bill features Alexander Hamilton on the adverse and the Treasury department building on the reverse.

Andrew Jackson who used to feature on the old $10 bill is now on the obverse of the $20 bill with a picture of the White House on the reverse.

1928 series $20 Bill

Image Courtesy of Heritage Auctions

The front of the $50 bill features Ulysses S Grant with an image of United States Capitol on the reverse and the $100 bill features Benjamin Franklin on the obverse with Independence Hall on the reverse.

The new 1928 series $500 bill was designed in 1945 and featured President William McKinley’s portrait, while the $1000 FRN had the obverse redesigned to feature Grover Cleveland.

The $5000 & $10000 bills stayed much the same except on the reverse it now reads the denomination written in this style: "Ten Thousand Dollars"

1934 $100,000 Gold Certificate

In 1934 a new Federal Reserve note was created for settling large bank-to-bank transactions.

The $100,000 gold certificate, complete with gold seal, featured Woodrow Wilson on the obverse. Similar to the $10,000 FRN, it was not designed to be circulated amongst the general public.

1963 Series $1 Bill Released

In 1963 the first $1 Federal Reserve note was produced and also the first ATMs started appearing in New York City.

These allowed customers to get cash from their accounts without needing to visit the bank.

1963 series $1 Bill

Image Courtesy of Heritage Auctions

The 1963 series $1 FRN features George Washington on the obverse the great seal of the United States on the reverse.

This $1 bill has a green treasury seal and is signed by the US Treasurer Catherine O'Hara Granahan and the Treasury Secretary Clarence Douglas Dillon.

History

https://www.uscurrency.gov/history?period=All https://en.wikipedia.org/wiki/Federal_Reserve_Note

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