From 1915 to 1934, the United States Treasury produced both the modern series of Federal Reserve Notes and a series of Federal Reserve Bank Notes. The two collections had distinctive designs separating the two visually and offered different legal backing. While Federal Reserve Notes were backed by all Federal Reserve Bank branches, Federal Reserve Bank Notes were backed only by the branch location that issued it. Today, 1918 $1 Flying Eagle Federal Reserve Bank Notes are available to you online in Very Fine condition at Silver.com.
Note Highlights:
- Available to ship to you inside plastic currency sleeves!
- First issue of the $1 Federal Reserve Bank Note!
- Includes the popular effigy of President Washington!
- The face value of $1 (USD) is fully backed by the US government.
- President George Washington is depicted on the obverse.
- An American bald eagle clutches a flagpole with the American flag on it in the reverse design.
- Very Fine condition.
- Please keep in mind Federal Reserve Bank Notes were issued by individual Federal Reserve Banks, meaning the notes can have various branch banks noted on the obverse.
Federal Reserve Bank Notes debuted in 1915 with denominations of $5, $10, and $20. The original Federal Reserve Notes shared the same designs as the early Federal Reserve Bank Notes in these denominations, though the visuals would change across the two collections with time. In 1918, these $10 Flying Eagle Federal Reserve Bank Notes were issued along with $2 and $50 denominations. Known as the 1918 Series, these three new Federal Reserve Bank Notes were released in an emergency issue to replace Silver Certificates that had been temporarily halted due to the passage of the Pittman Act.
All of these 1918 $1 Flying Eagle Federal Reserve Bank Notes are available to you for purchase in Very Fine condition. A paper note in this condition has its original crispness with clear, untarnished visuals. The notes may, however, show folds, creases, and wrinkles from folding, but otherwise showcase very minimal levels of flaws and detractions.
President George Washington is depicted in the obverse design of 1918 Flying Eagle Federal Reserve Bank Notes. This portrait of Washington is set in an oval field to the left of the design element. The center of the design field includes a large inscription that reads, in part, “The Federal Reserve Bank of” … “Will Pay to the Bearer on Demand One Dollar.” As each Federal Reserve Bank Note was issued and backed by just one of the 12 Federal Reserve Banks, a different bank name was featured in the middle between the aforementioned markings. Possible bank notations include New York City, Philadelphia, Richmond, St. Louis, Kansas City, and Dallas.
An American bald eagle is found on the reverse of the 1918 $1 Federal Reserve Bank Note. Reminiscent of the 1899 Black Eagle Silver Certificate, the design shows an American bald eagle perched on a flagpole with the American flag as its spreads its wings wide.
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