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."


Best of the Web (“Hall of Fame”)

American Currency Exhibit

American Currency Exhibit

This collection, from the Federal Reserve Bank of San Francisco, covers currency from 1690 through half a dozen era… [read review or visit site]

Bank Note Bank

Bank Note Bank

This world banknote and currency image-sharing database is notable for its breadth of contributors and content (abo… [read review or visit site]

Two Cent Revenue Stamped Paper

Two Cent Revenue Stamped Paper

Everything you'd ever want to know about revenue stamped paper (first authorized in 1862). This site features infor… [read review or visit site]



Clubs & Associations

Other Great Reference Sites

Most watched eBay auctions    

1928 $1000 Richmond Frn One Thousand Dollar Bill Stunning High Grade!1934a $1000 One Thousand Dollar Bill Beautiful High Grade!1934 A $500 Dollar Bill Federal Reserve Note Five Hundred Dollars Chicago, Il1934 $500 Federal Reserve NoteHgr 1928 $1,000 New York ((rare Issue)) High Grade1918 Series Large $1 One Dollar Federal Reserve Bank Note San Francisco1934a $500 *philly District* Five Hundred Dollar Bill Frn Superb High Grade!Hgr 1934a $500 San Francisco ((awesome $500)) Very High GradeHgr 1929 $10 Abnc Specimen ((rare Variety)) Pmg Choice Unc 641934a $500 Five Hundred Dollar Bill Note Scarce Kc - Pcgs Ef 40 * No Reserve * 1934 $1000 One Thousand Bill Note Pmg 551934a $500 Five Hundred Dollar Bill Frn Beautiful High Grade!1934 A $500 U.s. Federal Reserve Bank Note Of Chicago Fr# 2202g Green Seal MuleHgr 1934a $10 Richmond ***star*** ((x-rare 6 Known) High Grade$10 Rare Variety Test Note 1929 Specimen American Bank Note Company Uncirculated$10 * Rare * Variety Test 1929 Specimen American Bank Note Company UncirculatedLarge Size Legal Tender Note 1923 Red Seal $1 Fr 40 Pmg Vf 20 NetHgr 1934 $500 Philadelphia ((stunning Lime Seal)) Awesome Grade$20 Frn 1981a Mismatched Serial #'s B100/b000 Error, Pcgs Cu65ppq * No Reserve!1914 $10 "red Seal" New York Fr. 893b Burke/mcadoo (pmg 40)Fr. 2001-h $10 1928a Pmg Gem Unc 66 Epq St Louis Federal Reserve Note 1934a $500 Five Hundred Dollar Bill Note Cash Money Pcgs Au 50 ** No Reserve **Crisp Uncirculated Uncut Sheet Of 4 - $50.00 2004 Series Star NotesLarge 1905 5 Dollar Bill American Exchange Bank New York City Benjamin Harrison 10-$1.00. 1935-a Hawaii Brown Seal Dealers Lot Low Grade Or Imperfect Circulated1993 $20 Federal Reserve "error" Note Fr-2079-a Gem Unc,cga 68 OpqUltimate Gem 1914 $50 Federal Reserve Fully Uncirculated1914 $5 Frn Fr-848 Burke/mcadoo Gem Unc,cga 66 Opq1934 A Star Note 100 Bill Us Currency San Francisco Low Serial Number FrnHgr 1914 $5 St Louis ((burke/houston)) Near Uncirculated1917 One Dollar Bill Large Note1914 Five Dollar Bill Large Note1914 $5 Federal Reserve Note (blue Seal)2013 $5 Frn Ml-star (san Francisco) - Pmg Gem67 Epq - **star** - **top Pop**4- $1.00 Large Size Low Grade Damaged Type Notes. No Reserve10 Dollars Hamilton Federal Reserve Bank Of Philadelphia 1934 B$1000 1934a Federal Reserve Note Atlanta - Pmg 25 Very Fine1934a Us $500 Bill Mckinley Federal Reserve Chicago Five Hundred Dollar Green1914 $20 Frn Fr-979a White/mellon Superb Gem,cga 67 Opq$20 Frn 1985 Misaligned Face Printing Error, Pcgs Au58 * No Reserve!1917 Two Dollar Bill Large Note1934 $20 Dollar Bill * Star Federal Reserve Note Old Paper Money U.s. Currency$1 2009 Short Run Star Note (320000) H00244876*1928 $20 Federal Reserve Note "cleveland" Fr-2050-d Superb Gem,cga 67 OpqFederal Resere Note $20 1934-a New York Pmg Graded Gem Uncirculated 66 EpqFederal Resere Note $20 1934-a New York Pmg Graded Gem Uncirculated 66 Epq1918 New York $1 Federal Reserve Note Green Flying Eagle Large Size Note$10 1928b New York Light Green Seal Xf Gold ClauseKd F2200 1928 $500 Federal Reserve Note(new York "b") Low Serial# (5 Digits)*vf*Series 1934 A $500 Federal Reserve Note!!!!Hgr 1914 $50 Frn ((x-rare Glass Signature)) New York1918 $1~large Size~national Currency Note -cleveland Oh~almost Uncirculated~$1.00 1935-a North Africa Yellow Seal Silver Certificate Pmg Au 55epq1918 $1 U.s. Federal Reserve Bank Note Philadelphia F Fr#715 *better Signatures*$20 Redeemable In Gold Frn 1928 A Dark Green SealFederal Reserve Note $2 1995 Star Pmg Graded Gem Uncirculated 65 Epq1934a $500 Fr-2202-l Frn Gem Unc,cga 66 OpqSeries 1934 A $1000 Federal Reserve Note!!!!$500 United States Federal Reserve Note Philadelphia$5 Frn 1975 Mismatched Serial #'s L445/l455 Error, Pcgs Cu63ppq * No Reserve!