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The 1914 $5 STAR Federal Reserve Note is a highly collectible piece of early 20th-century U.S. paper currency, distinguished by its historical significance and unique star designation. Federal Reserve Notes were first introduced in 1914, a year after the Federal Reserve System was established. These notes were part of the first series issued under this new system and were intended to provide the U.S. economy with a more stable, flexible, and unified currency system. STAR notes, in particular, are even more desirable to collectors due to their scarcity. A STAR note is a replacement note that was printed to replace a defective or damaged note that was removed from circulation before issuance. The star symbol is located before the serial number, marking it as a replacement, and thus making it rarer than standard issue notes. In Very Fine (VF) condition, this 1914 $5 STAR Federal Reserve Note retains much of its original detail and remains a valuable and sought-after collectible.
The obverse of the 1914 $5 Federal Reserve Note features a portrait of President Abraham Lincoln, one of the most revered figures in American history. Lincoln’s image, facing right, is framed by intricate scrollwork and surrounded by various inscriptions, including "Federal Reserve Note," "The United States of America," and the denomination "Five Dollars." The note’s serial number, with the star symbol preceding it, appears twice on the obverse, adding to its distinctiveness. The Federal Reserve seal, specific to the issuing Federal Reserve Bank, is also present on the left side of the note. In VF condition, the note shows some signs of circulation, such as light folds and wear, but it remains in relatively good shape, with all major design elements clear and legible. The portrait of Lincoln, in particular, is still sharp and detailed, making the note visually appealing despite its signs of use.
The reverse of the 1914 $5 Federal Reserve Note is equally impressive, featuring a detailed vignette titled "Pioneer Family." This scene shows a frontiersman, his wife, and their child standing before a log cabin, symbolizing the rugged determination and pioneering spirit that helped build the United States. The reverse also includes the denomination "Five Dollars" in prominent numerals and text, along with intricate geometric patterns that enhance the note’s aesthetic appeal. In VF condition, the reverse of the note may exhibit light fading or wear, but the primary design elements, including the pioneer vignette, remain well-preserved and recognizable. The artistry and symbolism of the reverse design make it one of the more memorable features of this note, adding to its appeal among collectors.
Federal Reserve Notes from the 1914 series were issued by all twelve Federal Reserve Banks, each serving a specific region of the United States. The star on the serial number of this particular note indicates that it was a replacement for a defective note that was removed before it could enter circulation. STAR notes were printed in smaller quantities than regular notes, making them scarcer and more valuable to collectors. The issuance of STAR notes was an important part of the U.S. Treasury’s quality control process, ensuring that only high-quality currency reached the public. The mintage of these notes varied depending on the region and the need for currency in different parts of the country. STAR notes, in particular, were printed in more limited numbers, and fewer of them have survived over the years, making them a prized addition to any collection.
The 1914 $5 Federal Reserve Note was printed in large size, measuring approximately 7.375 x 3.125 inches, making it significantly larger than the modern Federal Reserve Notes in use today. These large-size notes were known for their detailed designs and intricate engravings, which added to their aesthetic and historical value. The Federal Reserve Note series from 1914 was the first to be issued under the Federal Reserve Act, marking a major shift in U.S. monetary policy. Prior to this series, the country had relied on a mix of National Bank Notes, Gold Certificates, and Silver Certificates, which often created inconsistencies in the currency supply. The introduction of Federal Reserve Notes provided the country with a standardized currency that was backed by the credit of the Federal Reserve System, giving the public greater confidence in its use for everyday transactions.
In Very Fine condition, this 1914 $5 STAR Federal Reserve Note shows moderate signs of circulation, including light folds, creases, and possible edge wear, but it remains in a well-preserved state overall. The VF grade indicates that while the note has been used, it has retained most of its original detail, and its design elements are still clearly visible. For collectors, notes in VF condition strike a balance between affordability and aesthetic appeal, as they offer a good level of preservation without the high price tag of uncirculated examples. The scarcity of STAR notes, combined with the historical significance of the 1914 Federal Reserve Note series, makes this note particularly valuable to numismatists and collectors of early U.S. paper currency.
The 1914 $5 STAR Federal Reserve Note is not only a piece of American monetary history but also a work of art, reflecting the craftsmanship and attention to detail that went into early 20th-century currency production. Its connection to the founding of the Federal Reserve System, along with its unique status as a STAR note, makes it a desirable collectible for those interested in U.S. history, economics, and numismatics. In VF condition, this note retains much of its original charm, offering collectors a tangible link to the early days of the Federal Reserve and the evolution of the American financial system.