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10 Dollars Federal Reserve Note, Large TEN, Branch ID in Letters

Issuer Federal Reserve Bank / U.S. Bureau of Engraving and Printing
Year 1928
Type Standard circulation banknote
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Reverse description Central intaglio vignette of the United States Treasury Building, rendered in fine line engraving with classical architectural detail, centered on the note within ornate guilloche borders. The word TEN appears in large numerals at left and right, with TEN DOLLARS inscribed in the lower border panel. All reverse printing is executed in green ink, characteristic of U.S. small-size Federal Reserve Notes of this era.
Reverse lettering THE UNITED STATES OF AMERICA TEN DOLLARS
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Comments

The 1928 series marked the shift to small-size currency in the United States — but "small-size" is relative to the large-size notes that preceded 1929, not to anything issued after. This particular type identifies its issuing Federal Reserve Bank by a letter rather than spelling out the district name in full, a convention that became standard across subsequent series. The branch letter appears within the Federal Reserve seal, distinguishing it from the earlier large-size district notes where the bank name was printed explicitly.

Pick 421B corresponds to a specific district assignment. Collectors should verify the letter against the correct district pairing, as mislabeled examples circulate in the secondary market with some regularity.

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