1918 $2 Federal Reserve Bank Note Boston Battleship Fr#749 PMG Ch F15 Stains

Product Description

A Series of 1918 $2 'Battleship' Large Size National Currency Federal Reserve Bank of Boston, Massachusetts Fr#749 with signatures Elliot, Burke, Willett & Morss and Serial # A7345807A graded Choice Fine 15 with an annotation for 'stains' by PMG. This note displays an original paper color with browning throughout, dark staining on the top right hand corner which bleeds through the other side and uneven reverse margins. Please view our photos for additional information and ask any questions prior to purchase.

Federal Reserve Notes otherwise referred to as United States banknotes are banknotes used primarily in the United States of America and are denominated using the United States dollar (USD). Official legislation enacted by Congress known as the Federal Reserve Act of 1913 established the Federal Reserve System in addition to a centralized banking system. In effect, the ability to issue Federal Reserve Notes as legal tender was created. Prior to the formation of centralized banking, commercial banks issued their own notes. The first institution that acted as a central bank was the First Bank of the United States and was charted by Alexander Hamilton in 1791. Starting in 1914, the first large sized notes ‘Series of 1914’ were printed in denominations of $5, $10, $20, $50 & $100 initially with red seals and later blue seals. Their average dimensions were: 7.375 x 3.125 inches (187 x 79 mm). It wouldn’t be until 1928 that cost cutting measures were taken to reduce the size of these notes.