Federal Reserve Notes - What are fiat currencies? Fiat currencies are currencies not backed by a physical commodity such as Gold or Silver. Fiat currencies are guaranteed by the issuing Government. Their value is related to supply and demand rather than the value of commodities.
What are Federal Reserve Notes?
Federal Reserve Notes are the paper monies used by fiat currencies. That is, there is no physical commodity backing the paper money. Rather, it is guaranteed by its issuing government. Issued by the Federal Reserve System, Federal Reserve Notes are the main type of paper currency in the United States today. These notes are legal tender and were printed to replace the U.S. Notes, which were once issued by the Treasury Department.
For your convenience, all notes are listed in Friedberg number order.
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