Series Of 1934 $500 Note FRN San Francisco Fr#2201-Llgs LA Block PMG VF20

Product Description

A Series of 1934 $500 Federal Reserve Bank of San Francisco, California Fr#2201-Llgs Light Green Seal LA Block with signatures Julian/Morgenthau and serial # L00018656A graded Very Fine 20 (VF-20) by Paper Money Guaranty (PMG). This note displays a light grey and yellowing of the paper, visible creases/folds, 4 pinholes on the top obverse margin that are not annotated and slightly 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.