We are offering a 1918 $1 Federal Reserve Bank of Chicago note. There are a few heavy folds and moderate fading. There are some small tears and cuts around the edges.
Federal Reserve Bank Notes are banknotes that are legal tender in the United States issued between 1915 and 1934, together with United States Notes, silver certificates, Gold Certificates, National Bank Notes and Federal Reserve Notes. They had the same value as other kinds of notes of similar value. Federal Reserve Bank Notes are different from Federal Reserve Notes in that they are backed by one of the twelve Federal Reserve Banks, rather than by all collectively. They were backed in a similar way to National Bank Notes, using U.S. bonds, but issued by Federal Reserve banks instead of by chartered National banks. Federal Reserve Bank Notes are no longer issued; the only U.S. banknotes still in production since 1971 are the Federal Reserve Notes.
Large size Federal Reserve Bank Notes were first issued in 1915 in denominations of $5, $10, and $20, using a design that shared elements with both the National Bank Notes and the Federal Reserve Notes of the time. Additional denominations of $1, $2, and $50 were issued in 1918.
T-2 - QXZQ- 1/19 - S8 - BC4/21
DISCLAIMER: Please examine the photos carefully and purchase based on the condition you see and believe the item is. We do not offer any of our currency or coins that are raw with grades, we offer them only with photos and our asking price. We will state our opinion, but, you be the judge of the quality of our raw currency and coins. We will not specify or guarantee a grade unless the coin or currency has been professionally graded by PCGS, NGC, or PMG. Further, we do not guarantee any raw coin or currency to meet any specific grade by any other standards.