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Inventory:
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- Product ID: 24025
The 1928A $50 Federal Reserve Note is an important piece of American currency, representing both the economic realities of the post-World War I era and the evolution of the U.S. monetary system. This series of notes, issued under the provisions of the Federal Reserve Act, marked a significant shift in American currency, reflecting the transition from older, more traditional forms of money to the modern paper money system. The 1928A $50 note was part of a broader initiative to modernize U.S. currency, which included new designs and a shift from large-sized to smaller notes. These notes were issued by Federal Reserve Banks across the country, and the 1928A series is particularly interesting because of its role in the time period following the end of the Great War.
The 1928A series of Federal Reserve Notes was introduced to address a number of issues that arose from the economic challenges of the 1920s. The Great War had disrupted global economies, and the U.S. was emerging as a leading economic power on the world stage. The Federal Reserve, which had been established in 1913, had a significant role to play in stabilizing the U.S. financial system. The 1928A $50 note was issued as part of the second series of small-sized currency notes, and it was designed to be more practical and easier to handle than the previous larger-sized notes. The 1928A series was the first to feature the smaller, more compact size that is standard in today’s U.S. currency, and it was also the first to feature a portrait of President William McKinley on the $50 denomination.
The design of the 1928A $50 Federal Reserve Note is a beautiful reflection of the U.S. Treasury’s design philosophy at the time. The obverse of the note features a large portrait of William McKinley, the 25th President of the United States, who was assassinated in 1901. McKinley’s portrait is framed by ornate borders, with intricate patterns and detailing that were designed to prevent counterfeiting. McKinley was chosen for the $50 note because of his leadership during the Spanish-American War and his role in expanding U.S. influence abroad. His image on the currency represented American progress and strength at the turn of the 20th century. The note also features the words "Federal Reserve Note" prominently at the top, along with the seal of the U.S. Treasury and the issuing Federal Reserve Bank.
The reverse of the 1928A $50 Federal Reserve Note features a simple yet striking design, with a large "50" prominently displayed at the center of the note. This design was meant to emphasize the denomination of the note, making it easy for users to identify the value at a glance. The reverse also features the words "The United States of America" and "Will Pay to the Bearer on Demand" along with the familiar U.S. Treasury seal. The design of the 1928A notes was created by the Bureau of Engraving and Printing, which was responsible for producing the majority of U.S. paper currency at the time. The detailed engravings on these notes, combined with the security features like the use of specific fibers and inks, made counterfeiting difficult, although it was still a problem during this time.
The 1928A $50 Federal Reserve Note was issued in significant quantities, as it was an important part of the U.S. money supply during the economic boom of the 1920s. The notes were printed by the U.S. Treasury, and each was assigned to one of the twelve Federal Reserve Districts. The notes are marked with a letter prefix corresponding to the district of issuance, making them identifiable based on their origin. The total mintage of the 1928A $50 Federal Reserve Note is not readily available, but it is known that these notes were issued in substantial numbers to meet the demand for currency during the time. However, as with all currency, many notes were removed from circulation over time due to wear and tear, leading to a limited number of high-quality examples surviving today.
In terms of value, the 1928A $50 Federal Reserve Note is a sought-after piece for collectors, especially those who focus on U.S. paper money from the early 20th century. The value of these notes is primarily determined by their rarity, condition, and the desirability of the specific series and denomination. The 1928A $50 note is relatively common in lower grades, but high-quality examples in Fine or Extremely Fine condition are more rare and command a premium in the market. Notes in Fine condition, such as the one being described here, typically show signs of wear from circulation, including creases, folds, and slight fading of the ink, but the design and text are still clearly visible. This level of wear is typical for notes that have been in circulation for several decades, but they remain highly collectible for their historical value.
The 1928A $50 Federal Reserve Note is considered to be in Fine (F) condition if it has moderate wear but still retains its legibility and design. A note in Fine condition will have creases and folds, with some wear to the paper, but the overall design and text remain legible. Notes in this condition are still valuable to collectors, particularly those focusing on notes from the early 20th century. A note graded as Very Fine (VF) will show less wear, with fewer folds and a clearer design. As the grade increases to Extremely Fine (EF) or Uncirculated (UNC), the note will show less wear, with little to no signs of circulation and much sharper details. Uncirculated notes are highly sought after and command the highest prices in the numismatic market.
The 1928A $50 Federal Reserve Note is an important part of U.S. history, representing a key moment in the development of the American financial system. This note, with its intricate design and the image of President William McKinley, serves as a reminder of the economic and political landscape of the late 19th and early 20th centuries. The transition to smaller-sized currency, coupled with the significant changes in the American economy during this period, make the 1928A $50 note a fascinating item for collectors and historians alike. Whether in Fine, Very Fine, or higher grades, this note remains a significant piece of U.S. currency that tells the story of a nation’s evolving financial infrastructure.