1929 $50 Fifty Dollars U.S. National Currency Bank Note - The Federal Reserve Bank of New York, New York (Star Note) (PMG 35) (EPQ)

Fr#1880-B*

  • Lot number 1533648
  • Total views 5
  • Total bids 36
  • Winning bid $625.00
  • Buyer's premium $106.25
  • Total $731.25
  • COIN NO RESERVE

Graded PMG 35 (Choice Very Fine) EPQ (Exceptional Paper Quality). Please see the images for more details on the condition of the bill.

Federal Reserve Bank Notes, issued 1915-34, are banknotes that are legal tender in the United States, together with United States Notes, silver certificates, Gold Certificates, National Bank Notes and Federal Reserve Notes. They had the same value as other kinds of notes of similar face value. Federal Reserve Bank Notes differ from Federal Reserve Notes in that they are backed by one of the twelve Federal Reserve Banks, rather than by all collectively. They were backed in a similar way to National Bank Notes, using U.S. bonds, but issued by Federal Reserve banks instead of by chartered National banks. Federal Reserve Bank Notes are no longer issued; the only U.S. banknotes still in production since 1971 are the Federal Reserve Notes.

Star notes are used by the BEP (Bureau of Engraving and Printing) to replace misprinted/damaged currency before it goes into circulation. These replacement notes are printed just like normal notes, except there is a star printed in the serial number. On Federal Reserve Notes, the star is where the block letter normally is (the last letter of the serial number). On Legal Tender notes and Silver Certificates, the star is where the prefix normally is (the first letter of the serial number).

Due to the uniqueness of each item, please refer to the photos provided in this auction. We offer high resolution images of each item rather than a written description of condition.

This item is being shipped from the Pristine Auction warehouse.