Catalog
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| Issuer | Federal Reserve Bank of the United States |
|---|---|
| Year | 1914 |
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| Value | Log in to see details |
| Currency | Dollar (1785-date) |
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| Obverse description | Central vignette of Benjamin Franklin in an intaglio-engraved oval portrait frame. The blue Treasury seal appears at right, while the circular Federal Reserve district seal — bearing the respective district letter and number — is positioned at left. Blue serial numbers appear at upper right and lower left, set against a fine guilloche underprint. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse carries a large central vignette composed of five allegorical figures personifying Labor, Plenty, America, Peace, and Commerce, rendered in finely detailed intaglio engraving. The design is framed by ornate guilloche borders and denomination counters in each corner. Redemption and receivability text is distributed across the note. |
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| Comments |
The 1914 Federal Reserve Note series was the first to carry Federal Reserve Bank obligations rather than U.S. government obligations directly — a consequential distinction that reflected the newly operational Fed's uncertain legal footing in its first year. Congress had passed the Federal Reserve Act in December 1913, and these notes were being printed and distributed before the system had even established consistent operating procedures across all twelve districts.
The sheer number of signature combinations across this series is a direct artifact of Treasury turnover during the Wilson administration. William McAdoo, Carter Glass, and David Houston each served as Secretary of the Treasury across the note's active lifespan, while both Burke and White held the Comptroller position — yielding the sprawling matrix of district-and-signature pairings collectors navigate today. Some district combinations are considerably scarcer than others; the Minneapolis and Richmond districts produced fewer high-denomination notes in this series, and certain Burke & Glass pairings outside the major eastern districts are genuinely difficult to locate.
Red seal versions of this note also exist from 1914, predating the blue seal issues.