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2 Dollars Large-Size Federal Reserve Bank Note
| Issuer | Federal Reserve Bank |
|---|---|
| Year | 1918 |
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| Currency | Dollar (1785-date) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | TWO NATIONAL CURRENCY TWO SECURED BY UNITED STATES CERTIFICATES OF INDEBTEDNESS OR UNITED STATES ONE-YEAR GOLD NOTES, DEPOSITED WITH THE TREASURER OF THE UNITED STATES OF AMERICA SERIES OF 1918 THE FEDERAL RESERVE BANK OF (Federal Reserve Bank) (Federal Reserve State) WILL PAY TO THE BEARER ON DEMAND TWO DOLLARS MAY 18, 1914 AUTHORIZED BY THE ACTS OF DECEMBER 23, 1913, AND APRIL 23, 1918 TWO FEDERAL RESERVE BANK NOTE TWO |
| Reverse description | The reverse is printed in green and carries a large central intaglio vignette of the New York-class battleship USS New York (BB-34) underway at sea, smoke rising from her funnels, rendered in fine line engraving. The denomination numeral "2" appears in ornate guilloche panels at each lower corner, with the legend "NATIONAL CURRENCY" arched across the top and "FEDERAL RESERVE BANK NOTE" immediately below; a multi-line legal tender clause runs along the lower border. |
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| Comments |
The 1918 Federal Reserve Bank Notes occupy an odd constitutional position: unlike Federal Reserve Notes, they were obligations of the individual issuing bank rather than the United States government, backed by U.S. bonds deposited with the Treasury. Each of the twelve Federal Reserve Banks issued its own version, with the bank name and city printed directly on the face — which is why the Fr. number range spans 747 through 780, with distinct catalog entries for Boston, New York, Philadelphia, and so on through San Francisco.
The series was discontinued after 1918. Congress never authorized another large-size FRBN issue, and the type was effectively replaced by the small-size series that arrived in 1929. Notes from the less commercially active districts — Minneapolis, Dallas, Kansas City — turn up far less often than their New York or Chicago counterparts.