EMNofSeattle
Regular Member
So I got my hands on these last year, when I was working at a QFC grocery store, we had an older customer tender these as payment. I immediately had my friend drop a 5 in the till and paid my friend a small finders fee for showing them to me.
If you'll notice these have Red serial numbers and treasury seals These are UNITED STATES NOTES, wheras the paper currency circulating today are FEDERAL RESERVE NOTES what's the difference you ask? well for a period of time, not much, and today they're collectors items.
From what I can understand and this is where F1man might be able to correct me, US notes began to be issued directly by the United States Treasury during the civil war and was currency that was supported by bullion and other tangible assets owned by the US government.
Versus today where Federal Reserve notes are issued by the treasury to the federal reserve (who basically owns all debts of the US government which is in turn indebted to the fed) and the federal reserve then decides to circulate the FRNs. US Notes ceased to be printed in 1971 after the US finally put the final nail in the gold standard coffin. actually for a few years the BP&E made both US Notes and Fed notes side by side for several years and to average joe blow on the street they meant the exact same thing (cash) nowadays the few remaining US notes are collectors items, although they still are considered circulating currency and are still legal tender for debts.
now my Series 1926Gs are worth 20 dollars a piece in mint (haha, money pun, shut up I know the mint is for coins) condition. as collector item maybe I can squeeze 5 dollars becuase of their obviously well worn condition. too bad the old geezer didn't pay in Series 1926A or I'd get like 45 bucks a piece! lol
The Secratary of the treasury signature is that of John W Snyder, who was the Sec of Treasury appointed by Harry Truman in 1946, and he served until 1953 so they must have been printed in that time period
If you'll notice these have Red serial numbers and treasury seals These are UNITED STATES NOTES, wheras the paper currency circulating today are FEDERAL RESERVE NOTES what's the difference you ask? well for a period of time, not much, and today they're collectors items.
From what I can understand and this is where F1man might be able to correct me, US notes began to be issued directly by the United States Treasury during the civil war and was currency that was supported by bullion and other tangible assets owned by the US government.
Versus today where Federal Reserve notes are issued by the treasury to the federal reserve (who basically owns all debts of the US government which is in turn indebted to the fed) and the federal reserve then decides to circulate the FRNs. US Notes ceased to be printed in 1971 after the US finally put the final nail in the gold standard coffin. actually for a few years the BP&E made both US Notes and Fed notes side by side for several years and to average joe blow on the street they meant the exact same thing (cash) nowadays the few remaining US notes are collectors items, although they still are considered circulating currency and are still legal tender for debts.
now my Series 1926Gs are worth 20 dollars a piece in mint (haha, money pun, shut up I know the mint is for coins) condition. as collector item maybe I can squeeze 5 dollars becuase of their obviously well worn condition. too bad the old geezer didn't pay in Series 1926A or I'd get like 45 bucks a piece! lol
The Secratary of the treasury signature is that of John W Snyder, who was the Sec of Treasury appointed by Harry Truman in 1946, and he served until 1953 so they must have been printed in that time period
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