Posts Tagged ‘seal’

Facts About the One Dollar Bill

Wednesday, March 11th, 2009

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Did you know:

o that the 1st one dollar notes were issued by the Federal Government in 1862. They featured a portrait of Secretary of the Treasury Salmon P. Chase?

o that the first use George Washington’s portrait on one dollar notes was on the 1869 United States Notes?

o that the inclusion of “In God We Trust” on all currency was required by law in 1955. It first appeared on paper money in 1957, on one dollar Silver Certificates, and on all Federal Reserve Notes starting in 1963?

o that the first one dollar Federal Reserve Notes were issued in 1963. It had George Washington on the face and the Great Seal on the back? This remains unchanged.

o that of all the notes printed by the Bureau of Engraving and Printing, one dollar notes make up 45% of all currency made?

o that the life span of a one dollar bill is 21 months?

o that the face and back designs of all U.S. paper currency, except the backs of the one and two dollar bills were adopted in 1928?

o that George Washington is on the one dollar bill, Thomas Jefferson is on the $2, Abraham Lincoln is on the $5, Alexander Hamilton is on the $10, Andrew Jackson is on the $20, Ulysses Grant is on the $50, and Benjamin Franklin is on the $100?

o that notes of higher denominations, while no longer produced featured William McKinley on the $500, Grover Cleveland on the $1000, James Madison on the $5000, and Salmon Chase on the $10,000?

o Faceplate Numbers and Letters are the small numbers and letters that can be found in the lower right and upper left corners of a bill?

o In the left corner of the dollar bill is the Note Position Number? This consists of the Note Position Letter and a quadrant number. The Note Position Letter is followed by the Plate Serial Number. This identifies the plate the note was printed from. The Plate Serial Number for the back side of the note is in the lower-right corner.

o that bills that have a small “FW” in the lower right corner on the front of the bill indicate that the bill was printed at the Bureau of Engraving and Printing’s Western Currency Facility in Fort Worth, Texas?

All of these things contribute to what the dollar is today. You probably haven’t thought much about The Great Seal or the Note Position Letter and Plate Serial Number. If you take a closer look at that dollar in your pocket, you can trace it back to its exact location on the plate it was printed from. It may not be top on your list of things to do when you’re paying for your cup of coffee but someone could certainly track this dollar to its roots if they wanted to. Take a look, you might find something interesting yourself!

Silver Certificates

Sunday, September 7th, 2008

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silver certificatesThe first silver certificates were printed in the United States in response to people who were upset with the Fourth Coinage Act that put the United States money on the gold standard. The certificate was designed to match the same value in silver coins. For example, one $50.00 Silver Certificate would be worth 50 silver dollars.

The seal and serial numbers on a Silver Certificate were printed in red, brown, and blue until Series 1899. At that time the seal and color numbers were permanently changed to blue for the $1, $2, and $5 dollar denominations.

In World War II, the government issued a 1935a Silver Certificate with a brown seal for Hawaii, and a yellow seal for North Africa distributions. The reasoning behind this move was if the money fell into enemy hands it could be easily identified and cancelled to prevent monetary losses in the United States.

In 1928, the United States Treasury reduced the size of the money to speed up transactions and cut the costs of printing. Thus, for Series 1928 only $1 Silver Certificates were printed.

In 1929 the Great Depression hit the United States and the country fell into economic disaster. The majority of citizens blamed the ever changing price of gold for the depression. President Franklin Roosevelt agreed and persuaded Congress to recall all gold coins, gold bullion, and gold certificates. At this time Congress very quietly placed the United States on the silver standard. May 12th, 1933, the Agricultural Adjustment Act was passed. This Act included a clause that allowed for huge amounts of silver to be pumped into the economy to replace the gold.

In 1934, Congress passed a low that changed the obligation on Silver Certificates to denote the current location of the silver. This law also gave the government the power to exchange silver bullion for these certificates, not just silver dollars. The 1928 one-dollar Silver Certificates were phased out and replaced with the certificates of Series 1934.

In March of 1964, Secretary of the Treasury, C. Douglas Dillion stopped the ability of citizens to redeem their Silver Certificates for Silver Dollars. Then in the 1970’s huge numbers of silver dollars in the vaults of the U.S. Mints were sold to collectors at collector value.

Finally on June 4, 1963 Congress abolished Silver Certificates and a citizen could no longer redeem their Silver Certificates for silver on June 24, 1968. This act pretty much ended the life of Silver Certificates. Kind of sad, really.

Do you have any Silver Certificates? If so, tell us about them or post a picture!