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    Description

    Choice Uncirculated $5 1914 Chicago Red Seal FRN

    Fr. 838b $5 1914 Red Seal Federal Reserve Note PMG Choice Uncirculated 63.
    The paper money we use today evolved from the large size notes created by the December 23, 1913, Federal Reserve Act. This central banking system, the first since the Second Bank of the United States shuttered in 1836, emitted Federal Reserve Notes (abbreviated "FRN") from 12 districts across the country. Those were, and continue to be, located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. The districts are assigned numerals from 1 to 12 and letters from A to L, respectively. The corresponding numerals and letters are included in each particular location's district seal at the left. Color overprints and the treasury seal at the right were initially printed in red ink, but this was short-lived because the ink was prone to fading and blurred when wet. Blue ink was substituted, and the majority of the FRNs are blue seal notes. Although the faces are simple, the backs are elaborate. On the $5 denominations, Charles Burt's portrait of Lincoln appears on the face; the ornate green back uses two retouched historical vignettes from earlier Federal types: Columbus' Discovery of Land at the left and Landing of the Pilgrims at the right. All red-seal FRNs are very popular and much scarcer than their corresponding blue seals. This Chicago note is an available red seal $5, perfect for a type set. Mike bought it decades ago, and the serial number is not reported within the 242 Track & Price records. It does fall into a short run of Uncirculated/About Uncirculated notes on the census currently (the Chambliss Collection note, for example, fell into this range). Although PMG cites this note as "Toned," it is very well centered, and the red seal and serials provide excellent contrast. An excellent type note and always in demand.
    From The Mike Coltrane Collection.


    Auction Info

    Auction Dates
    June, 2021
    24th-25th Thursday-Friday
    Bids + Registered Phone Bidders: 17
    Lot Tracking Activity: N/A
    Page Views: 267

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