50 Dollars Large-Size Federal Reserve Note

The 1914 Federal Reserve Notes were the first paper currency issued under the Federal Reserve Act of 1913, which fundamentally restructured American banking after the Panic of 1907 exposed the catastrophic fragility of the National Banking System. The fifty-dollar denomination was among the highest-value notes placed into general circulation, and early examples bear the signatures of either Burke/McAdoo or Burke/Glass — reflecting a mid-series change in Treasury personnel that collectors use to distinguish earlier from later printings.

Each note is overprinted with one of twelve district bank identifiers, which drives the Pick reference spread across Fr#1024–1054. The Boston district issues are considerably scarcer than New York or Chicago examples, a disparity traceable directly to regional commerce volumes at the time of issue.