Series Of 2003 $1 FRN San Francisco Fr#1929-L Radar Note PMG Gem UNC 65 EPQ

Product Description

A Series Of 2003 $1 Federal Reserve Bank Note Of San Francisco, California Fr#1929-L (LG Block) with signatures Marin/Snow and Radar Serial # L28955982G graded Gem Uncirculated 65 Exceptional Paper Quality (EPQ) with an annotation for "FW" that this note was printed at the Forth Worth, Texas facility by PMG. This note displays an original white paper color, vivid green seal and fairly even margins. The total # of notes printed in this series: 1,267,200,000. Please view our photos for additional information and ask any questions prior to purchase.

Federal Reserve Notes otherwise referred to as United States banknotes are banknotes used primarily in the United States of America and are denominated using the United States dollar (USD). Official legislation enacted by Congress known as the Federal Reserve Act of 1913 established the Federal Reserve System in addition to a centralized banking system. In effect, the ability to issue Federal Reserve Notes as legal tender was created. Prior to the formation of centralized banking, commercial banks issued their own notes. The first institution that acted as a central bank was the First Bank of the United States and was charted by Alexander Hamilton in 1791. Starting in 1914, the first large sized notes ‘Series of 1914’ were printed in denominations of $5, $10, $20, $50 & $100 initially with red seals and later blue seals. Their average dimensions were: 7.375 x 3.125 inches (187 x 79 mm). It wouldn’t be until 1928 that cost cutting measures were taken to reduce the size of these notes.