Tuesday, August 17, 2010
An Introduction to Federal Reserve Notes
By George Cuhaj
August 16, 2010
The “Nations Bank” is the Federal Reserve. It is broken up into 12 districts – Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco. Each of these branches control cash within their service areas, and the New York Fed branch is also given the job of international distribution of cash.
Each district can order qualities of currency from the Bureau of Engraving and Printing. On Federal Reserve Notes the seal color is green. Starting with the 1928 series the Federal Reserve bank name is in a seal at the left side of the note and has a large number in the center. On notes starting with the 1934 series the number in the seal switches to a letter. Each branch has a number-letter combination, Boston is A-1, New York B-2, and so on thru San Francisco L-12.
As an additional security feature that Branch letter is also printed as the starting letter in the serial number (the seal letter and the serial number prefix letter have to match). On currency greater than $5. with a series date since 1996, the Federal Reserve branch letter and number is now printed under the top left serial number, and the branch letter is printed as the second letter in the serial number prefix.