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Federal Reserve bank notes were United States currency banknotes issued by individual Federal Reserve Banks. They were based upon the earlier National Bank Notes. They differed from Federal Reserve Notes in that they could only be redeemed at the Federal Reserve bank that issued them. Federal Reserve notes could be redeemed at any Federal Reserve bank.

As large size notes they were first issued in 1914 with a design that shared elements with the both the National Bank Notes, and the Federal Reserve Notes of the time, but as small size notes they were issued only as an emergency issue in 1933 using the same paper stock used for National Bank Notes. This emergency issue was prompted by the public hoarding of cash because of the many bank failures happening at the time. This also limited the ability of the National Banks to issue notes of their own. They were phased out within 2 years, but served their purpose dutifully. As small size notes, they have brown seals and serial numbers, the same as National Bank Notes of the era.

Federal Reserve Bank Notes

Small Size 1929 Small Size 1929
Code: 1760
Price: $4,999.00
Country: US
Denomination: $5.00
Grade: PCGS-65 PPQ
Grader: Fr. 1850-I $5 This is the single finest PCGS graded Minneapolis $5 note, though there are two notes graded at this level by PMG.
Quantity in Basket: none

Small Size 1929 Small Size 1929
Code: 1761
Price: $1,599.00
Country: US
Denomination: $50.00
Grade: PMG-65 EPQ
Grader: Fr. 2100-C $50 1928 Federal Reserve Note. PMG Gem Uncirculated 65 EPQ. POP = 5
Quantity in Basket: none

Small Size 1929 Small Size 1929
Code: 1763
Price: $2,499.00
Country: US
Denomination: $100.00
Grade: PCGS-20
Grader: $100 FR 1890-B*, very rare Star note
Quantity in Basket: none

Richard Hokanson Rare Coin Investments
P.O. Box 940, Southold, NY 11971
(631) 765-6464 |

Prices subject to market.