Originally, the New York Branch of the Federal Reserve issued approximately 636,000 1929 $50 notes. Although common at first, many of these bills no longer exist, and as a consequence have steadily increased in value over the decades.

Currency Highlights

Today it is estimated that about seventy star notes still exist. The term “star note” is used in reference to the serial number, which concludes with the star symbol rather than letter A. Each of these notes started with the serial number B00000001A for every denomination, and the currency with lower serial numbers usually command premiums.

All of the 1929 $50 Federal Reserve bills have serial numbers which begin with letter B. Four black letter B’s will be stamped on it. The B reveals that these notes were issued via the NY district. Each bill is signed by EE Jones who was the treasury register while WO Woods was treasurer for the U.S. Additionally; these notes were also signed by both the governor and deputy governor. President Ulysses Grant’s image can be seen in front. Both collectors and currency houses desire bills which are in an uncirculated condition, particularly if they have a lower serial number and star note.

Background

The Series of 1929 $50 New York Star note was created in honor of Ulysses S. Grant, who was the eighteenth U.S. President. Prior to becoming Commander in Chief, Grant was a Union Army leader and general who played a key role in winning the Civil War. During his presidency he worked closely with Radical Republicans to ensure the protection of Blacks during Reconstruction while rebuilding the American navy and public credit.

Grant grew up in Ohio where he demonstrated great equestrian abilities at an early age, which proved valuable during his military service. He graduated from West Point in 1843 and fought with distinction during the war with Mexico. He reenlisted during the Civil War and led men during the campaign at Vicksburg, gaining complete control of the strategic Mississippi River by 1863. He also emerged victorious at Chattanooga, which prompted President Abraham Lincoln to give him a Lieutenant General promotion.

Grant faced his greatest martial challenge from Robert E. Lee, the brilliant Confederate general, and fought a grueling thirteen month campaign against him. Although this resulted in high casualties for both sides, Lee would eventually surrender at Appomattox. After the assassination of Abraham Lincoln Andrew Johnson become president and he then promoted Grant to Army General in 1866. However, the two men came into conflict over the Reconstruction policies, and Grant would utilize Reconstruction Acts, which were passed despite Johnson’s veto, for enforcing the civil rights which had been recently granted to the former African American slaves.

Historians regard Grant as being reluctant to get involved in politics, but despite this he was an outstanding statesman who received the Republic Party nomination and became president by 1868.