-
Inventory:
1 In Stock
- Product ID: 10432
Checkout
The 1923 $1 Red Seal United States Note is an iconic piece of American currency that was issued during a pivotal time in the nation's financial history. These notes, which are often referred to as "Red Seals" due to the prominent red serial numbers and treasury seal, were issued as part of a broader effort to stabilize the U.S. monetary system following the tumultuous periods of the Civil War and the end of the gold standard. The 1923 series represented a turning point, as it was the last year of issue for the $1 United States Note with the distinctive red seal before the transition to the Federal Reserve Notes that dominate modern U.S. currency. This note's place in history, combined with its unique design, makes it a highly sought-after piece by collectors and historians alike.
The Red Seal $1 Note was first introduced in the early 1860s as part of a broader initiative to address the nation’s financial challenges during the Civil War. Following the war, the government continued to issue these notes as a part of its broader effort to back U.S. currency with U.S. Treasury certificates rather than gold or silver alone. By the time the 1923 series was introduced, the U.S. was well into the 20th century, and the United States Notes were undergoing significant changes as the Federal Reserve System became more prominent in regulating the nation’s money supply. The 1923 $1 Red Seal note is notable because it marks the final year in which these notes were printed, serving as a bridge between the older U.S. Treasury Notes and the Federal Reserve Notes that would become the standard after 1934.
In terms of design, the 1923 $1 Red Seal features a prominent portrait of George Washington, the first president of the United States. Washington’s image is encircled by the words "THE UNITED STATES OF AMERICA" and "ONE DOLLAR," both of which are displayed in bold, serifed letters. Below Washington’s portrait is the large inscription, "This Note is a Legal Tender at Its Face Value in Payment of All Debts and Dues," reflecting the legal status of the note as currency backed by the full faith and credit of the U.S. government. The most striking feature of the 1923 note, and the one that gives it its name, is the red seal and red serial numbers. These elements were used on U.S. Treasury notes from 1862 through the early 1900s, and they were designed to make the notes more secure and visually distinctive. On the reverse side of the note, the design is more straightforward, featuring the words "ONE" in large numerals and "UNITED STATES NOTE" printed around the edges. The reverse side also includes the seal and serial numbers, and the entire design reflects the note’s role as a secure and government-backed piece of currency.
The 1923 $1 Red Seal was printed in large quantities, with over 1 billion notes being issued during this series. This was part of a broader initiative to ensure that currency was available to meet the growing demands of the U.S. economy during the 1920s. While the mintage for this note was significant, the 1923 $1 Red Seal is still considered rare in higher grades, particularly those in Uncirculated condition. The note’s transition into collectible status began soon after its circulation, as people began to recognize its importance as a part of American currency history. Today, the 1923 $1 Red Seal is highly regarded by collectors, particularly those who specialize in U.S. paper currency. Notes in higher grades, particularly those in Fine to Very Fine (VF) condition, are the most common and are often collected for their affordability and historical value.
In terms of condition, the 1923 $1 Red Seal note is often found in grades ranging from Fine to Very Fine. Notes in Fine condition exhibit noticeable wear and tear, such as creases and folds, but the overall design is still clearly visible. The note’s edges may show signs of rounding, and the paper can appear soft due to its age. Very Fine notes, on the other hand, show less wear, and the features of the note are still crisp and distinct. The serial numbers and red seal remain legible, but slight folds or creases may be present. Notes in these conditions are often quite affordable, but they still represent an important piece of American currency history. However, notes in higher grades such as Extremely Fine (XF) or Uncirculated (UNC) are considered much rarer and command significantly higher prices in the marketplace. Uncirculated notes of the 1923 $1 Red Seal series are particularly prized for their exceptional condition and their sharp, fresh appearance, which reflects the note's original state before it was ever exposed to circulation.
The 1923 $1 Red Seal is a significant coin in the history of U.S. currency, and its collectible value is determined by several factors, including rarity, condition, and historical significance. Although millions of these notes were printed, few survived in high grades, which is why they are highly valued by collectors today. Their unique design, historical importance, and the scarcity of high-quality examples make the 1923 $1 Red Seal an important piece in any U.S. currency collection.