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50 Dollars Federal Reserve Note, Large FIFTY, Branch ID in Letters
| Issuer | Federal Reserve System |
|---|---|
| Year | 1928 |
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| Composition | Log in to see details |
| Size | 156 x 67 mm |
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| Obverse description | Intaglio-printed portrait vignette of Ulysses S. Grant at center, framed by fine guilloche work. The Federal Reserve Seal and Treasurer's signature appear at left, with the Treasury Seal and Secretary's signature at right. The obligation text, series year, and district letter are printed in black letterpress over a green underprint. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Green intaglio vignette of the United States Capitol building viewed from the west, set within an elaborate scrollwork border with ornamental rosettes at the lower corners and denomination numerals at all four corners. The panoramic scene includes surrounding grounds and distant cityscape rendered in fine engraved detail. |
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| Comments |
The 1928 series marked the Federal Reserve's transition from the large-format notes that had defined American currency since the Civil War era to the smaller dimensions that persist today — a change driven largely by a Treasury cost-reduction study completed in 1925. The BEP had to retool significant plate inventory to accommodate the switch, and production of the new small-size notes began under considerable institutional pressure.
This particular variety identifies the issuing Federal Reserve Bank through a letter code rather than a spelled-out city name, a feature that distinguishes the earliest small-size Federal Reserve Notes. The branch letter system was quietly dropped in subsequent series.