Collecting Paper Money - Littleton Coin Company

guide to u.s. paper money small size notes
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Small-Size Federal Reserve Notes
1929-Present
In 1913, a central banking system was established as a result of the Federal
Reserve Act. This created a new type of note called the Federal Reserve Note
(commonly referred to as FRN), issued by the Federal Reserve System. Today,
these notes make up 99.85% of all paper money in circulation. They are
backed by the system, not the individual banks.
From $1 to $10,000
Although issued in
denominations from $1
through $10,000, the highest
denomination notes seldom
have ever been seen by the
public. The low
denomination $1 and $2
dollar Federal Reserve Notes
have only been issued since
1963, but the $5, $10, $20,
$50 and $100 notes have
been printed for the entire
75 years that small-size
paper money has been in
existence. Since 1945, no
FRNs over $100 have been
printed. Beginning in 1969,
a great many notes of $500
and higher have been
redeemed and destroyed as
they were deposited into the
Federal Reserve System.
Shown are many of the
familiar Federal Reserve
Notes, from the $1 note with
Washington’s portrait to the
new color-shifting Series
2004 $20 and the Series 1996
$100 note. Plus, there is the
high denomination $500
note with President William
McKinley, and the $10,000
note with Salmon P. Chase,
Secretary of Treasury. The
faces all have green seals
and serial numbers and
engraved backs.
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