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

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.