In 1913, Congress passed the Federal Reserve Act, which created the Federal Reserve, established Federal Reserve Banks, and adopted Federal Reserve Notes (the stuff in our wallets that we call money) as the nation’s official currency.

One of the options given to Federal Reserve Banks was the ability to issue their own Federal Reserve Bank Notes that could be used as legal tender but were only redeemable at the originating Federal Reserve Bank—until 1933, these notes were redeemable in gold. The first of these notes, dated 1915, were similar in design to the larger-size bills of the day, sharing graphic elements from National Bank Notes.

The backs of these notes are particularly handsome, making them much collected. The so-called "Battleship $2" from 1918 features Thomas Jefferson on the front and the Battleship New York on the back. Ten-dollar Federal Reserve Bank Notes from 1915 are printed with the same engraving of a horse-drawn reaper facing a factory as the Federal Reserve Notes from that year. But on the fronts of all Federal Reserve Bank Notes is the name of the bank issuing the note.

After issues in 1915 and 1918, the notes went on hiatus until 1933, when smaller, Series 1929 notes were printed as emergency currency during the banking crisis that accompanied the Great Depression. These notes had brown seals and the name of the issuing Federal Reserve Bank on their fronts.

One especially odd detail about these notes is the clumsy way in which the word "President" in the lower-right corner of the bill was blacked out (in some cases not even completely). The word was supposed to go below the signature of the head of the issuing Federal Reserve Bank, but Federal Reserve Banks have governors not presidents, so "President" was blotted out and unceremoniously replaced by the word "Governor."


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Big Pair Auction! $500 & $1000 34's Five Hundred & One Thousand Dollar Bills Nr1934 $1000 Dollar Bill. Rare Light Green Seal And Low Serial Number. No Reserve1914 $100 Federal Reserve Note (pmg 66 Epq) Atlanta!!!! Rare Note!!!!Brick Of 1000 Consecutive Serial # Unc 1976 $2.00 Bill Bet Sealed St. Louis Frn $1000 1934 Dallas Rare Gem Pmg Xf40 Epq Looks Gem New 1934a 500 Five Hundred Dollars Minneapolis Fr# 2202-i Ia Block Pp I Pmg Vf 20 1934a 1000 Onethousand Dollars Chicago Pp K Fr# 2212-g Ga Pmg 35 Choice Vf 35 $1000 1934a Cleveland Cga Gem 65* Rare Gem 1901 $10 Ten Dollar Buffalo Bison Large Legal Tender Note Key Note No Reserve1934 $1000 One Thousand Dollar Federal Reserve Note With A Green Seal---nr$500 1934a Chicago Cga 68 Superb Ultra Gem PerfectionScarce (only 64 Known!) Pmg Vf 25 1914 $5 Boston Red Seal Frn Fr #832b - Bid Now1918 $2 "battleship" Philadelphia Hgr 1934a $1,000 Frn ""stunning"" Au - UncirculatedHgr 1934 $500 Richmond ""stunning Lime Seal"" Cga Superb Gem 67-opq1934 $1000 "lime Green" Federal Boston Low Serial Number 4 Digit! Old Currency!Us 1934 A $500 Five Hundred Dollar Bill Federal Reserve Bank Note Chicago Il1934 1000 Onethousand Dollars St. Louis Pp L Fr# 2211-hlgs Light Green Pmg Vf20 Very Rare 1966 $100 Us Note****four Digit Star**** Fancy Serial *00006644 A1934 500 Five Hundred Dollars Atlanta Ppd Fr# 2201-hlgs Light Green Fa Pmg Vf20 Hgr 1928 $100 Low Serial# ""numerical #12"" Awesome GradeLot Of (2) Large Size Notes, 1914 Five & 1923 One1914 $10 Federal Reserve Note (pmg 63 Epq) San Francisco!!!!!Rare 1914 $5 11-k Dallas, Type-a, Sharp! Large Federal Reserve NoteVery Low Serial Number One Dollar Uncirculated Star Note 1934 $500 Federal Reserve Note Graded Vg/f (no Reserve) O321914 $20 Large Size Federal Reserve Note With Blue Seal5 Dollars Lincoln Federal Reserve Note Philadelphia 1934 CounterfeitHgr 1914 $10 Rare Dallas ((finest Known)) Cga Superb Gem 67-opq$1.00 2009 Kansas City District Star Pack 100 Star Consecutive Frn Notes1918 $1 Federal Reserve Bank Note (pmg 66 Epq) Philadelphia!!!! Rare Note!!!!*uc* 1928b $20 Dgs San Francisco Federal Reserve Note!! Pmg Gem Unc 65 Epq$1.00 1918 Fr.715 Philadelphia Federal Reserve Bank Note Pcgs Vf25ppqHgr 1914 $5 Boston ""type-b"" Awesome Grade1934 $1000 Frn Fr-2211-b Julian/morgenthau Gem Unc,cga 65 Opq1934 $500 Rare Minneapolis Low Serial! Fr#2201-ilgs Light Green Seal! Pmg Vf25!2009 $1 One Dollar ~ Consecutive Federal Reserve **star** Notes ~ New York1914 Large Size Federal Reserve $50 Note-ulysses S. Grant-blue Seal-4d ClevelandFr# 1023b: 1914 $50 Frn San Francisco Strong Mid-grade$5 1914 Dallas Federal Reserve Note Cga Gem 66* Incredible Beauty1914 Five Dollar Blue Seal Notes- Philadelphia - 2 Consecutive #'s Free ShippingUs Treasury Issued 2003 Series Sheet Of 32 Uncut $2 Bills Orig Tube1929 Series $10 Specimen Note - American Bank Note Company, Ny UncirculatedUnited States 1934 Boston Federal Reserve Fifty Dollar BanknoteG Series 500 Dollar BillRare 1914 $10 Type A, 3-c Philadelphia Sharp! Large Federal Reserve NoteSeries 1914 $10 Federal Reserve Note Choice Au ** No Reserve **1918 $1 Federal Reserve Bank Note Chicago. Circulated. No Reserve!1934a $500 Frn Note Chicago Choice UncUs Currency Lot & 1836 Large Cent1918 $1 Frbn San Francisco Federal Reserve Bank Note Fr# 745 Very Fine 25 Pmg.$10.1928-b Chicago District Lgs Redeemable In Gold Clause Frn Pmg Choice New 64*uc* 1950c $10 *star* Cleveland Federal Reserve Note!! Pmg Gem Unc 65 Epq$20 1950c New York Pmg 66 Epq Scarce JewelSeries Of 1914 Large Blue Seal Five Dollar Federal Reserve Note. Nr1918 2 Dollar Federal Reserve Note Chicago Damaged1976 $2 Federal Reserve Star Notes - Sheet Of 41934a $1000 Frn Fr-2212-c Julian/morgenthau Choice Unc,cga 64 Opq$500 1934 A Richmond, Virginia Federal Reserve Note 1918 Fr 766 Two Dollar Chicago Federal Reserve Bank Note - Pcgs Very Fine 20