1929 (L-San Francisco) $5 Brown Seal FRBN VF-20 PCGS (Fr#1850-L)

1929 (L-San Francisco) $5 Brown Seal FRBN VF-20 PCGS (Fr#1850-L)

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Federal Reserve Bank Notes differ from Federal Reserve Notes in that they are backed by one of the 12 Federal Reserve Banks, rather than by all collectively. This $5 note, issued by the San Francisco FRB is a great collector's item!

Currency Highlights:
  • Brown seals and serial numbers,.
  • Housed in an archival quality currency sleeve.
  • Graded Very Fine-20 by PCGS.
  • Attributed with Premium Paper Quality (PPQ).
  • All small size Federal Reserve Bank Notes are from series 1929.
  • Issued by the San Francisco Federal Reserve Bank—Friedberg #1850-L.

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Small size Federal Reserve Bank Notes were printed as an emergency issue in 1933 using the same paper stock as National Bank Notes. They were printed in denominations of $5 through $100. A National Bank Note has a line for the national bank's president's signature. The small size Federal Reserve Bank Note printed a bar over the label for this line since Federal Reserve Banks had governors, not presidents. The wording also was changed to add, "Or by like deposit of other securities" after the phrase, "Secured by United States bonds deposited with the Treasurer of the United States of America". The twelve Federal Reserve Districts also appear on the bills as black alphabetically sequenced letters, from "A" to "L", a system essentially followed today on the $1 bill.

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