Federal Reserve Bank Note
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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.
These notes were issued in 1933 during the Great Depression. Their creation came about as a result of the public hoarding cash because of the many bank failures happening at the time. They were phased out within 2 years, but served their purpose dutifully. They have brown seals and serial numbers; their reverses were the same as all other small sized notes of that day.
[edit] References
| Obsolete United States currency and coinage | |
|---|---|
| Topics | United States coinage · United States dollar · History of the United States dollar · Large denominations of currency |
| Coins | Half cent · Large cent · Two-cent piece · Three-cent piece · Twenty-cent piece · Trade Dollar |
| Gold Coins | Gold dollar · Quarter Eagle ($2.50) · Three-dollar piece · Half Eagle ($5) · Eagle ($10) · Double Eagle ($20) |
| Currency | Compound Interest Treasury Note · Demand Note · Federal Reserve Bank Note · Gold Certificate · Interest Bearing Note · National Bank Note · National Gold Bank Note · Refunding Certificate · Silver Certificate · Treasury or 'Coin' Note · United States Note |
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