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- Five Dollar Bills With Red Seals
- 5 Dollar Bills With Red Serial Numbers
- 1953 Five Dollar Bill With Red Serial Numbers
The red seal designates these bills as United States Notes. USNotes were issued directly by the Federal Government, alongsidesilver and gold certificates, and eventually Federal Reserve Notesissued by the central bank.
Paper Money: US Bank Checks, Colonial Currency. Us “birthday” $2 Dollar Bill April 1954 Serial Number “j019544xxa”. 1928 - G $2 Two Dollar Red Seal Note Bill In 8 photo. 1928g $2 Dollar Bill Old Us Note Legal Tender Paper Money Currency Red Sl Y949. I have two one dollar bills with serial numbers F50000939C, and H00029899*, two five dollar bills with serial numbers MJ23664111A,and JL04109504C, and a twenty dollar bill with the serial number.
US Notes and Federal Reserve Notes are 'unbacked' notes; thatis, they're accepted for payment because the vast majority ofcitizens are willing to accept them as representing a specificamount of money due to the stability, faith, and credit of the USTreasury. This contrasts with gold and silver certificates thatwere issued only in amounts that represented specific quantities ofthose metals on deposit with the government.
The US went off the gold standard during the Great Depressionand gold certificates were discontinued. The same thing happenedwith silver in the 1960s so silver certificates were alsodiscontinued. At that point US Notes and FRN's were the only formsof currency issued and were effectively the same. The governmentthen decided to combine all currency production and distributionunder the central bank to eliminate duplication of effort. Becausemany more FRNs were in circulation than US Notes, the latter werediscontinued in 1966.