The Federal Reserve Banks were also in a bind. Roosevelt was inaugurated) more than $624 million in gold had been withdrawn from the Treasury and Federal Reserve Banks, and currency in circulation had grown by a then huge $1.8 Billion. Matters worsened, and between January, 1933 and Ma(when Franklin D. Then came the Great Depression and years of inaction to stem the downward economic spiral. All of the 1928 Series FRNs were not only backed by, but were redeemable in, gold. The first issue of small size FRNs were series 1928 (which include Series 1928, 1928A, 1928B, 1928C and 1928D). No matter how you collect 1934 Series FRNs, they provide a wonderful insight into the BEP's printing operations during the formative years of Small Size currency. Some collect only stars, others seek the rare varieties.
Others pick and choose from all of the Districts.
Other collectors specialize, collecting one Federal Reserve District (like San Francisco). Yet, if you avoid stars or scarce varieties, a Series Set is well within the reach of most any collector. Some notes may not have survived because no one bothered to save them. More than a few notes are Unique or exceedingly rare. Such a task would require a huge budget, over 900 notes ($5 to $100, or over 200 for $10 alone), and - perhaps most importantly - an unlikely prospect for success. Unlike 1928/1928A series collectors, few endeavor to obtain every note (least of all every variety) from each of the twelve Federal Reserve Districts. It is rare that any two collections of 1934 Federal Reserve Notes will resemble the other. Although 19A Series FRNs are also found in $500 and $1000 denominations (and 1934 Light Green Seal $5000 and $10000), there is little of the variety found in the lower denominations (not to mention the much higher "cost" of collecting these high denominations).Īs a small size FRN collector, you have a lot of room to specialize and personalize what you collect. But, the 1934 series also offer Mules, (and sometimes scarcer Non-Mules), Late Used/Finished Plates, as well as Wide and Narrow Varieties and Old and New Backs. Like the 1928 Series, there are distinct Seal Color varieties and the popular Large Solid Stars (and Twelve Federal Districts from which to choose). The 1934 Series Federal Reserve Notes ($5 through $100) are perhaps the richest area of collecting for Federal Reserve Notes (and perhaps all Small Size Currency). The 1934 Series include the distinct series: 1934, 1934A, 1934B, 1934C and 1934D.Ĭollecting Series 1934 Federal Reserve Notes Series 1934 Federal Reserve Notes ("FRNs") were introduced during the height of the Great Depression to reflect the fact that, (unlike the various 1928 series), FRNs would no longer be redeemable in Gold. THE 1934 SERIES $10 FEDERAL RESERVE NOTES **
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