Large Size Federal Reserve Notes
These historical and collectible Large Size Federal Reserve Notes are among the series of notes first issued in 1914 until 1928. They hearken back to a day when bank notes were redeemable for their value in silver coins at any Federal Reserve Bank. They were originally released in denominations of $5, 10, 20, 50, 100, 500, 1,000, 5,000, and 10,000 dollars.
Though the designs were slightly different from the current notes, the most significant difference was the size of the 1914 to 1928 issues. These earlier notes are about 25% larger, and therefore are usually referred to as Large Federal Reserve Notes. They are also more rare, artistic, and handsome, making them increasingly valuable to collectors as the notes age. While Lincoln, Grant, and Franklin were featured just as they are on the present day $5, $50, and $100 bills, Andrew Jackson instead of Alexander Hamilton was featured on the $10 note. Grover Cleveland appeared on the $20 note instead of Andrew Jackson as currently featured. In addition to their unique size, these design changes make the Large Federal Reserve Notes a pleasure to collect.
A brief exploration of the history of U.S. currency is worthwhile when considering the historical value of the Large Federal Reserve Notes. Federal Reserve notes are the latest in a storied history of paper currency in the United States before designs and denominations became standardized. A Federal Reserve Note is a type of legal tender issued by the United States and printed by the Bureau of Engraving and Printing under the authority of the Federal Reserve Act of 1913. Prior to the Civil War, paper currency was not uniform, appearing in many different sizes, shapes, and colors. In fact, each state issued its own currency as well as individual banks offering their own versions.
However, attempts to standardize the production of all currency and coins came after intense hoarding during the Civil War. Among the most notable paper currencies in circulation between the civil war and the 1914 Federal Reserve Notes were the following: United States Notes (1862 to 1923), National Bank Notes (1863 to 1922), Gold Certificates (1865 to 1922), and Silver Certificates (1878 to 1923). All of these earlier currencies also boasted the larger size. In the early years before the Great Depression, these notes were redeemable for their corresponding value in silver coin or bullion.
Conversely, rather than gold or silver backing, modern Federal Reserve Notes are backed by the Treasuries owned by the Federal Reserve Banks that provide collateral for the value of the notes. What is so fun about collecting these historical Large Notes is that they represent an era when a $50 note meant $50 dollars worth of silver bullion. Therefore, collectors of rare U.S. currency will enjoy browsing through our selection of these colorful and historical specimens, and you’ll enjoy their fine artistry, as well.