– There ‘s a rich history both on and behind US paper currency, which makes collecting it such a satisfy hobby. The state ‘s initial foray into paper money dates from the american english Revolution and the ephemeral Continental Notes used to finance the War for Independence. But they were issued in such quantity that they lost their value and disappeared from circulation .
It would take the Civil War before Congress authorized, again, the general circulation of composition currency. In 1863, the US Treasury Department engraved and printed the first paper currency. They were called fractional Notes because they were in denominations of less than one dollar .
BEP and the Federal Reserve Bank
In 1874, Congress passed legislation establishing the Bureau of Engraving and Printing ( BEP ) to manage the blueprint, printing and, initially, the distribution of all wallpaper currency. A sequence of ever-larger print plants went up in Washington, DC.
By 1985, the BEP was looking for a satellite facility west of the Mississippi River. It chose Fort Worth, TX for a total of reasons. High on that tilt was cutting transportation costs to get newly printed paper currency to Federal Reserve Banks in San Francisco, Kansas City and Dallas for regional distribution .
In 1913, Congress had passed the Federal Reserve Act, creating a cardinal monetary system to promote the effective operation of the economy and to serve the public interest. To help carry out those functions – including the distribution of all newspaper currency – it established 12 Federal Reserve Banks located in major fiscal districts around the area. They besides serve the U.S. territories and commonwealths .
Beginning composition currency collectors can read our utilitarian information on how to start a collection. More expereienced collectors will enjoy our advance collection advice. For a fun read, check out Littleton Coin ‘s Heads & Tails blog on collecting fancy serial numbers.
The engraver ‘s art is on full display on wallpaper currency, and the design details on Federal Reserve Notes make them specially collectible. At the Littleton Coin Company ‘s Learn Center you can discover fascinate and more detail information about the dub “ horse blankets “ and the small-size Federal Reserve Notes that replaced them ! We blogged about two specific examples of outsize paper currentness in Heads & Tails. One looks at the note nicknamed “ funnyback “ and the other looks at wallpaper money that featured Christopher Columbus .
The BEP has a legal mandate to foil counterfeiters of our nation ‘s paper currency. It initially did therefore with flowery, complex designs which contribute to their collectability. In 1991 the BEP added microprinting and translucent security threads as deterrents. The following steps in protecting our newspaper currentness were off-center portraits, watermarks, color-shifting ink and concentric fine-line print. It is illegal to counterfeit US paper money. This Heads & Tails blog looks at some of the schemes that were successfully thwarted .
In a slenderly different vein about juke wallpaper currency, here ‘s blithe blog on movie money.
Littleton Coin Company ‘s Learn Center is helpful if you’re looking precisely to collect special Federal Reserve Notes. many numismatists develop an interest in World War II history and find these unusual examples of wartime paper currency worth adding to their solicitation .
Two final notes on collecting paper currency
If you are wondering how to protect the newspaper currency you’re acquiring as you build a collection, check out our tips at our Learn Center .
In 2019, Littleton launched the american english Paper Money Club. You can find out more about it here .