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    Choice Fr. 714 $1 1918 Philadelphia FRBN

    Fr. 714 $1 1918 Federal Reserve Bank Note PMG Choice Uncirculated 64 EPQ.
    The Federal Reserve Bank Notes (abbreviated FRBN) and the Federal Reserve Notes (FRN) were authorized under the same 1913 enactments. The FRBNs were intended to supersede National Bank Notes during the transition to nationwide usage of FRNs. However despite having "National Currency" engraved on their backs, the FRBNs were never utilized in that manner. Their role was short-lived; they replaced the Silver Certificates in circulation when silver prices escalated after World War I. Because the vast majority of Silver Certificates printed (such as the "Black Eagles" and other 1899 series notes) were $1, $2, and $5 denominations, so were the FRBNs. The $1 and $2 Series of 1918 notes were issued for all 12 Federal Reserve Bank districts. All notes have four signatures: a pair of U.S. Federal signatures and a pair for the local Federal Reserve Bank officials, generally creating signature combinations within the banks. Federal Reserve Bank Notes in general are much scarcer than Federal Reserve Notes. At left on the face is G.F.C. Smillie's Washington engraving; overprints are in blue. The green backs display Robert Ponickau's 1909 Eagle with Flag engraving. Mike Coltrane collected and studied the FRBN issues extensively, particularly signature variants, discovering some that were unpublished. This gorgeous Philadelphia FRBN shows Hardt and Passmore signatures. With nearly perfect centering and bold colors, a quintessential type note representative.
    From The Mike Coltrane Collection.

    Auction Info

    Auction Dates
    November, 2020
    4th-5th Wednesday-Thursday
    Bids + Registered Phone Bidders: 10
    Lot Tracking Activity: N/A
    Page Views: 291

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