Fr. 956a $20 1914 Red Seal Federal Reserve Note Front and Back Proofs PMG Choice Uncirculated 63.. ...

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Richmond District Fr. 956a $20 Red Seal Front and Back Proofs

Fr. 956a $20 1914 Red Seal Federal Reserve Note Front and Back Proofs PMG Choice Uncirculated 63.
An example of one of the few instances where a Proof note formally left the Bureau of Engraving and Printing. On December 23, 1913, President Wilson signed into law the Federal Reserve Act which eventually transformed the American monetary system. BEP Director Ralph was assigned the task of designing and producing the new Federal Reserve Notes. During the next year various prototypes were produced until a standardized design was finalized in the autumn of 1914. A small quantity of Proof examples were produced as a part of the design process. These Proofs were printed from the actual paper money plates onto card stock. The Treasury Seal and the all zero seven-digit serial numbers were glued on by hand at the BEP. The Treasury Department wanted FRNs of the Richmond Federal Reserve District printed first since this was the district that included Washington, DC. Therefore the Proofs to be awarded to various dignitaries were also from the Richmond district. Despite the mention of a previous mounting, this Proof pair should make a welcome addition into the next collection they enter.

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