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50 Dollars Federal Reserve Note, small portrait
| Issuer | Federal Reserve System |
|---|---|
| Year | 1928-1934 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
| Size | Log in to see details |
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| Designer(s) | Log in to see details |
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| Reference(s) | P#432 |
| Obverse description | Intaglio-printed portrait of Ulysses S. Grant, 18th President of the United States, at center within an oval vignette. The Treasurer's signature and Federal Reserve Bank seal appear at left, while the Secretary of the Treasury's signature and the Treasury Department seal occupy the right; numeral counters and lathe-work guilloche surround the design field. |
|---|---|
| Obverse lettering | {Series 1928A} FEDERAL RESERVE NOTE THE UNITED STATES OF AMERICA REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY, OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK. {Series 1934 through 1934D} FEDERAL RESERVE NOTE THE UNITED STATES OF AMERICA THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE, AND IS REDEEMABLE IN LAWFUL MONEY AT THE UNITED STATES TREASURY, OR AT ANY FEDERAL RESERVE BANK. WASHINGTON, D.C. GRANT THE UNITED STATES OF AMERICA WILL PAY TO THE BEARER ON DEMAND FIFTY DOLLARS |
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| Comments |
The shift to the "small size" format in 1928 marked the first fundamental redesign of U.S. currency since the Civil War era, driven largely by pressure from the American Bankers Association, which had long complained about the cumbersome dimensions of the older "horse blanket" notes. The Treasury consolidated dozens of competing note types — Gold Certificates, Silver Certificates, National Bank Notes, Federal Reserve Notes — into a unified small format, all sharing the same physical dimensions for the first time.
The 1928–1934 $50 Federal Reserve Notes are among the most type-rich of the series, issued across multiple Federal Reserve districts with meaningful signature and seal varieties that drive significant value differences between otherwise identical-looking examples.