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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Hgr 1914 $5 Red Seal Philadelphia ((finest Known)) Cga Superb Gem 68-opqHgr 1923 $1 Silver ((the Only Star For Series)) Pmg Gem 66epq(star)1918 $1 Federal Reserve Note Large Size Very Fine - Torn Series Of 1934a $1000 Federal Reserve Note, San Francisco,ca "l" Low Serial! VfU.s. 1917 $2 Two Dollar Large Size Legal Tender Paper Money Bill Note Very Good1914 $20 Federal Reserve Bank Note~ Large Size ~ Crisp High Grade~Fr 1908a-1974 $1 Federal Reserve Note..pmg Gem Unc. 66 Epq..inverted OverprintHgr 1928a $50 Frn ((gem+ Beauty)) Cga Gem Unc 65-opqHgr 1934a $500 Key Minneapolis ((x-rare)) Cga Gem Unc 66-opq$10 Frn 1977 Missing Back Printing Error, Pcgs Cu63ppq * No Reserve!Rare 1928$5 Dollar Bill,philadelphia Pennsylvania,redeemable In Gold,us Currency$1000 Federal Reserve Note Chicago 1934a Pcgs Very Fine 201934 $500 Dollar Bill Federal Reserve Note No Reserve!!!Hgr 1922 $10 ((gold Certificate-epq)) Pmg Vf-35epqHgr 1928b $20 Frn ((gorgeous Lime Seal)) Pmg Gem Unc 65epq$20 1914 Large Blue Seal *scarcer San Fran* Certified Frn!1918 $1 Dollar Bill Star Green Eagle Fr Bank Note Large U.s Currency Fr 710* PmgHgr 1934a $5 Frn ((only 1 Finer)) Pmg Gem Unc 66epq$10 1928b Federal Reserve Note Boston (a) Light Green Seal A41612417a Fresh Au1934 $500 Frn Fr-2201-b Light Green Seal! Desirable $500 Denom!1914 $5 Federal Reserve Bank Note~ Large Size ~ Almost Uncirculated~$20 1934 Atlanta Pmg 66 EpqU.s. Uncirculated Currency Silver Certificate Dollars (see Details Below)1934 A $500 Five Hundred Dollars Frn Federal Reserve Note CirculatedFr. 2202-d, $500 Federal Reserve Note, Cleveland Branch, Better Bank 1914 $10 Federal Reserve Bank Note~ Large Size ~ Uncirculated~$5 Frn 1977a Mismatched Serial #'s L445/l455 Error, Pcgs Au58ppq * No Reserve!Hgr 1963a $50 Frn ((only 1 Finer)) Pmg Gem Unc 66epq$10 Frn * Unknown Series * Missing Face Printing! Error, Pcgs Cu64 * No Reserve!Series Of 1914 $5 Dollar Bill Federal Reserve Note Blue Seal Large NoteHgr Fr.1255 .10c 3rd Issue ((washington)) Pmg Choice Unc 64epq$10 1914 Boston Large Size Blue Seal Frn Pcgs 15"new England Barn Hoard"$5.00 1969 Major Third Printing Shift Richmond Federal Reserve Note Error1934a 500 Us Dollar Bill New York2009 $20 Frn Solid Serial Number All 4's A/u.$20-bill. Twenty-dollar Note. Very Low Serial Number Rare, Fancy, Lucky 00000013Hgr 1929 $10 Abnc Specimen ((rare Variety)) Pmg Choice Unc 64$50. 1928 New York District Redeemable In Gold Clause Frn Choice Very Fine$5 1914 Boston Large Size Blue Seal Frn Pcgs 15"new England Barn Hoard"Large 1914 $5 Dollar Bill Federal Reserve Note Old Paper Money Fr 887 Dallas VfSeries Of 1914 Large Size Five 5 Dollars Bill Federal Reserve Note No ReserveLot Of 4 Uncirculated 1963 B - $1 Star Notes - Joseph Barr Series $500 Five Hundred Dollar Federal Reserve Note Series Of 1934 Bank Of Chicago$100. 1950-b Star New York District Lightly Circulated Very FineLow Serial Star Note 1$ Bill$50. 1928 Chicago District Redeemable In Gold Clause Frn Choice Very FineHgr 1934 $5 St Louis ((gorgeous Lime Seal)) Pmg Choice Unc 64epq1934-a $20.00 *star* Richmond Federal Reserve Bank Note Twenty Dollar Bill Rare!Hgr 1934c $10 Chicago ((finest Known)) Pmg Gem Unc 66epq$10 Dollar Bill Crisp Clean Us 1928 Series Federal Reserve Bank Note Boston Ma 11914 $10 Federal Reserve Note Large Size Atlanta Choice Vf! Crisp & Sharp!Federal Resere Note $10 1934-b Chicago Pmg Graded Choice Uncirculated 63 EpqU.s. 1976 $2.00 Star Note Uncut Sheet Of 4 With Folder " Philadelphia District "Hgr 1918 $5 Frbn Kansas City ((finest Known)) Cga Gem Unc 66-opq$1000 Federal Reserve Note New York 1934a Pcgs Very Fine 20$500 1934a Richmond Mule Pcgs Au58Hgr 1928a $100 Frn ((chicago)) Pmg Choice Unc 64epq1914 $5 Frn Fr-851b About Unc,pmg 55 Net Great Eye Appeal!1914 $10 Frn Pmg Choice Extremely Fine 45**san Francisco**l 36518467 A1918 $1 Federal Reserve Bank Note.new York District.fr.#713.pmg-45