FREE: 1929 $10 Dollar Brown Seal Federal Reserve Bank of Kansas City MO

The listing, 1929 $10 Dollar Brown Seal Federal Reserve Bank of Kansas City MO has ended.

U--GRADE

Federal Reserve Bank Notes, issued 1915-34, are banknotes that are legal tender in the United States, together with United States Notes, silver certificates, Gold Certificates, National Bank Notes and Federal Reserve Notes.[1] They had the same value as other kinds of notes of similar face value. Federal Reserve Bank Notes differ 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.

This emergency issue was prompted by the public hoarding of cash because of the many bank failures happening at the time. This also limited the ability of the National Banks to issue notes of their own. Small size Federal Reserve Bank Notes were discontinued in 1934 and no longer available from banks since 1945.[2] As small size notes, they have brown seals and serial numbers, as do National Bank Notes of the era. But while they look very similar, and both say "National Currency" across the top of the obverse, the issuers were not the same and they are considered to be distinctly different types of bills.

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