Federal Reserve Bank Notes

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Federal Reserve Bank Notes

NatCurr-FRB-20-1929.jpg

Federal Reserve Bank Notes or National Currency were currency issued by the Federal Reserve Bank without precious metal
backing. (Originally, the Federal Reserve Note was redeemmable in gold while this one was used to provide liquity in commerce).

The Federal Reserve Bank National Currency, issued by the Federal Reserve bank, this bill was backed by Treasury Securities similarly
purchased from and deposited with the Treasury Department. Aside from no longer differentiating the currency and note, this is not
materially different than recent Federal Reserve Bank actions. These continued to be in marginal circulation until 1945.


Federal Reserve Bank Notes were available to be purchased by the local bank from the Treasury Department in $5, $10, $20, $50, and $100 certificates.



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