We are pleased to offer for sale this Fifty Dollar Bill Federal Reserve Bank Note Brown Seal US Currency Good or Better. These Federal Reserve Bank Note Fifty Dollar Bills are nice original bills which grade good or better. These notes are Series 1929, banks are mixed and selected by us. Each bill comes in a currency sleeve for protection. These Federal Reserve Bank Notes will make a nice addition to any currency collection!
What is a Federal Reserve Bank Note?
Federal Reserve Bank Notes are United States Currency authorized by the Federal Reserve Act of 1913 and issued through 1945. Federal Reserve Bank Notes were issued as small size notes starting with the series of 1929. These small size notes were printed as an emergency issue in 1933. The emergency issue was necessary due to the public hoarding of cash caused by the Great Depression. The public started hoarding cash because of the many bank failures happening during this time. These notes are similar to Federal Reserve Notes in function however they were backed by each individual Federal Reserve Bank separately. Federal Reserve Notes are backed collectively by all the Federal Reserve Banks. These notes are also similar to National Bank Notes which were backed individually by Chartered National Banks.
Small size Federal Reserve Bank Notes used the same paper stock as National Bank Notes. They can be distinguished by their Brown Seal and brown serial numbers as well as the name, location, and district letter of the Federal Reserve Bank they are backed by (all printed on the obverse of the bills). These bills feature 4 signatures: 1) The Register of the Treasury at the time, E.E. Jones. 2) The Treasurer at the time, W.O. Woods. 3) The Cashier at the time of the issuing Federal Reserve Bank. 4) The Governor at the time of the issuing Federal Reserve Bank. It is interesting to note the small black bar on the lower right corner of these bills. (see picture below) This was printed here to cover up the word "President" which was used on National Bank Notes. Federal Reserve Banks have governors not presidents.
Small size Federal Reserve Bank Notes were printed and issued to the public only for the series of 1929. Series 1929 $5, $10, $20, $50, and $100 denominations were issued. There were and are currently 12 Federal Reserve Banks, not all of the banks issued Federal Reserve Bank Notes in all 5 denominations. Check out all our Federal Reserve Bank Notes!