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This series 1914 $50 Federal Reserve Note is from the Cleveland District and features a portrait of President Ulysses S. Grant on the face with a representation of Panama between two ships on the back.
- The first of the Federal Reserve Notes issued for general circulation.
- Sealed in an inert mylar PMG currency holder.
- Graded Fine-15 by PMG.
- Last printed in 1928 and bears the portrait of President Grant.
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Signature combination of White/Mellon—Friedberg #1039b.
Series 1914 Federal Reserve Notes were the first of this type issued after the Federal Reserve Act passed in 1913, which established the banking system and uniform currency that exists to this day. Denominations from $5 through $10,000, and districts A through L (Boston through San Francisco), were established.