FRBNs

The Large Size Federal Reserve Bank Notes (FRBNs) , also known as National Currency, were issued in two Series and in denominations of $1 to $50. They are often confused with National Bank Notes because they have the inscription "National Currency" across the top. They feature blue seals and blue serial numbers. With FRBN's the obligation to pay the bearer falls to the specific Federal Reserve Bank, and not the United States Treasury Department.

  • The First Issue, Series 1915 was authorized by the Federal Reserve Act of December 23rd, 1913 and consisted of only $5, $10 and $20 notes. They were issued by the Federal Reserve Banks of Atlanta, Chicago, Kansas City, Dallas and San Francisco. They are titled as National Currency and are similar to National Bank Notes. The San Francisco Federal Reserve Bank issued only $5 notes. The obligation to pay the bearer is similar to that on the first charter national bank notes, differing only slightly in wording but not in meaning.
  • The Second Issue, Series 1918, consisted of $1, $2, $5, $10, $20 and $50 notes issued to all 12 Federal Reserve Banks (though all banks did not necessarily issue all denominations). St Louis was the only district that issued the $50 denomination and it is considered a rarity in high grade. The $20 denomination was issued by Atlanta and St Louis only and they are also considered rarities. Although Federal Reserve Bank notes are a rather recent issue, all are quite scarce in high grade.

Treasury Department records show that around $2 million is outstanding from a total issue of nearly $762 million.

Show:
Fr. 708 1918 $1 FRBN Boston PCGS 65PPQ
A Gem New $1 1918 FRBN Boston in a PCGS 65PPQ grade.  s/n A2273183A.   This is a..
$725.00
Fr. 717 1918 $1 FRBN Philadelphia PCGS 65PPQ
A gem new $1 1918 FRBN Philadelphia Fr. 717 in a PCGS 65PPQ grade.  s/n C50556597A. &..
$725.00
Fr. 719 1918 $1 FRBN Cleveland  PCGS 65PPQ
A gem new $1 1918 FRBN Cleveland Fr. 719 in PCGS 65PPQ grade.  s/n D17352531A.  The second..
$725.00
Fr. 719 1918 $1 FRBN Cleveland PCGS 65PPQ
A gem new $1 1918 FRBN Cleveland Fr. 719 in a PCGS 65PPQ grade.  s/n D17352530A  A beautif..
$725.00
Fr. 721 1918 $1 FRBN Richmond PMG 65EPQ
A gem uncirculated $1 1918 FRBN Richmond in a PMG 65EPQ grade.  s/n E2673568A.  ..
$925.00
Fr. 761 1918 $2 FRBN Richmond Battleship  PMG 35
A choice very fine $2 1918 Battleship FRBN Richmond Fr. 761 in a PMG 35 holder.  s/n E2292182A&..
$1,099.00
Fr. 776 1918 $2 FRBN Dallas Battleship PCGS 64PPQ
A very choice new $2 1918 Battleship FRBN Dallas Battleship Fr. 776 in a PCGS 65PPQ g..
$3,050.00