Federal Reserve Notes, also United States banknotes, are the currently issued banknotes of the United States dollar. The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913 and issues them to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The Reserve Banks then circulate the notes to their member banks, at which point they become liabilities of the Reserve Banks and obligations of the United States.
The Treasurer of the United States is an officer in the United States Department of the Treasury who serves as the custodian and trustee of the federal government's collateral assets and the supervisor of the department's currency and coinage production functions. The current treasurer is Marilynn Malerba, who is the first Native American to hold the office.
The United States five-dollar bill ($5) is a denomination of United States currency. The current $5 bill features U.S. president Abraham Lincoln and the Great Seal of the United States on the front and the Lincoln Memorial on the back. All $5 bills issued today are Federal Reserve Notes. As of December 2018, the average life of a $5 bill in circulation is 4.7 years before it is replaced due to wear. Approximately 6% of all paper currency produced by the U.S. Treasury's Bureau of Engraving and Printing in 2009 were $5 bills.
The United States ten-dollar bill ($10) is a denomination of U.S. currency. The obverse of the bill features the portrait of Alexander Hamilton, who served as the first U.S. Secretary of the Treasury, two renditions of the torch of the Statue of Liberty, and the words "We the People" from the original engrossed preamble of the United States Constitution. The reverse features the U.S. Treasury Building. All $10 bills issued today are Federal Reserve Notes.
The United States twenty-dollar bill ($20) is a denomination of U.S. currency. A portrait of Andrew Jackson, the seventh U.S. president (1829–1837), has been featured on the obverse of the bill since 1928; the White House is featured on the reverse.
Large denominations of United States currency greater than $100 were circulated by the United States Treasury until 1969. Since then, U.S. dollar banknotes have been issued in seven denominations: $1, $2, $5, $10, $20, $50, and $100.
The United States one-dollar bill (US$1), sometimes referred to as a single, has been the lowest value denomination of United States paper currency since the discontinuation of U.S. fractional currency notes in 1876. An image of the first U.S. president (1789–1797), George Washington, based on the Athenaeum Portrait, a 1796 painting by Gilbert Stuart, is currently featured on the obverse, and the Great Seal of the United States is featured on the reverse. The one-dollar bill has the oldest overall design of all U.S. currency currently being produced. The reverse design of the present dollar debuted in 1935, and the obverse in 1963 when it was first issued as a Federal Reserve Note.
Symbols of the United States Department of the Treasury include the Flag of the Treasury Department and the U.S. Treasury Seal. The original seal actually predates the department itself, having originated with the Board of Treasury during the period of the Articles of Confederation. The seal is used on all U.S. paper currency, and on official Treasury documents.
Web notes are a type of United States currency named after the "web printing production" method of printing on continuous rolls of paper. There are several types of web printing production methods, including offset, gravure (intaglio), flexography, etc. However high-pressure web intaglio printing, front, and back of the intaglio process was a new idea.
Fractional currency, also referred to as shinplasters, was introduced by the United States federal government following the outbreak of the Civil War. These low-denomination banknotes of the United States dollar were in use between 21 August 1862 and 15 February 1876, and issued in denominations of 3, 5, 10, 15, 25, and 50 cents across five issuing periods. The complete type set below is part of the National Numismatic Collection, housed at the National Museum of American History, part of the Smithsonian Institution.
ABCorp, formerly the American Bank Note Company, is an American corporation providing contract manufacturing and related services to the authentication, payment and secure access business sectors. Its history dates back to 1795 as a secure engraver and printer, and assisting the newly formed First Bank of the United States to design and produce more counterfeit resistant currency. The company has facilities in the United States, Canada, Australia, and New Zealand.
This page is a glossary of notaphily. Notaphily is the study of paper money or banknotes.
Greenbacks were emergency paper currency issued by the United States during the American Civil War that were printed in green on the back. They were in two forms: Demand Notes, issued in 1861–1862, and United States Notes, issued in 1862–1865. A form of fiat money, the notes were legal tender for most purposes and carried varying promises of eventual payment in coin but were not backed by existing gold or silver reserves.
Spencer M. Clark was the first Superintendent of the National Currency Bureau, today known as the Bureau of Engraving and Printing, from 1862 to 1868.
The Washington–Franklin Issues are a series of definitive U.S. Postage stamps depicting George Washington and Benjamin Franklin, issued by the U.S. Post Office between 1908 and 1922. The distinctive feature of this issue is that it employs only two engraved heads set in ovals—Washington and Franklin in full profile—and replicates one or another of these portraits on every stamp denomination in the series. This is a significant departure from previous definitive issues, which had featured pantheons of famous Americans, with each portrait-image confined to a single denomination. At the same time, this break with the recent past represented a return to origins. Washington and Franklin, after all, had appeared on the first two American stamps, issued in 1847, and during the next fifteen years, each of the eight stamp denominations available featured either Washington or Franklin.
The Regular Issues of 1922–1931 were a series of 27 U.S. postage stamps issued for general everyday use by the U.S. Post Office. Unlike the definitives previously in use, which presented only a Washington or Franklin image, each of these definitive stamps depicted a different president or other subject, with Washington and Franklin each confined to a single denomination. The series not only restored the historical tradition of honoring multiple presidents on U.S. Postage but extended it. Offering the customary presidential portraits of the martyred Lincoln and Garfield, the war hero Grant, and the founding fathers Washington and Jefferson, the series also memorialized some of the more recently deceased presidents, beginning with Hayes, McKinley, Cleveland and Roosevelt. Later, the deaths of Harding, Wilson and Taft all prompted additions to the presidential roster of Regular Issue stamps, and Benjamin Harrison's demise (1901) was belatedly deemed recent enough to be acknowledged as well, even though it had already been recognized in the Series of 1902. The Regular Issues also included other notable Americans, such as Martha Washington and Nathan Hale—and, moreover, was the first definitive series since 1869 to offer iconic American pictorial images: these included the Statue of Liberty, the Capitol Building and others. The first time (1869) that images other than portraits of statesmen had been featured on U.S. postage, the general public disapproved, complaining that the scenes were no substitute for images of presidents and Franklin. However, with the release of these 1922 regular issues, the various scenes—which included the Statue of Liberty, the Lincoln Memorial and even an engraving of an American Buffalo—prompted no objections. To be sure, this series presented pictorial images only on the higher-value stamps; the more commonly used denominations, of 12 cents and lower, still offered the traditional portraits.
In early 18th century Colonial America, engravers began experimenting with copper plates as an alternative medium to wood. Applied to the production of paper currency, copper-plate engraving allowed for greater detail and production during printing. It was the transition to steel engraving that enabled banknote design and printing to rapidly advance in the United States during the 19th century.
US Treasury Department Specimen books, also known as BEP presentation albums, were published by the Bureau of Engraving and Printing (BEP) from the mid-1860s through the 1910s. Prepared upon request of the United States Secretary of the Treasury, albums were generally presented to Cabinet members, select Members of Congress, diplomats and visiting dignitaries. Some extant albums still in their original binding bear the name of the recipient impressed in gold lettering on the cover. While no two presentation albums have exactly the same contents, each book usually contained portraits, vignettes, and/or images of buildings. Specimen books which contain whole proof images of currency are extremely rare.
Cuban silver certificates were banknotes issued by the Cuban government between 1934 and 1949. Prior and subsequent issues of Cuban banknotes were engraved and printed by nongovernmental private bank note companies in the United States, but the series from 1934 to 1949 were designed, engraved, and printed by the US government at the Bureau of Engraving and Printing (BEP).
The United States two-dollar bill ($2) is a current denomination of United States currency. A portrait of Thomas Jefferson, the third president of the United States (1801–1809), is featured on the obverse of the note. The reverse features an engraving of John Trumbull's painting Declaration of Independence.
