Series Of 1934 A $500 Note FRN San Francisco Fr#2202-L LA Block PMG VF30 Toning

Product Description

A Series of 1934 A $500 Federal Reserve Bank of San Francisco, California Fr#2202-L LA Block with signatures Julian/Morgenthau with serial # L00132433A graded Very Fine 30 (VF-30) with an annotation for 'toning' by Paper Money Guaranty (PMG). This note displays a light yellow/brown paper color, visible creases/folds and fair margins. Please view our photos for additional information and ask any questions prior to purchase.

Federal Reserve Notes otherwise referred to as United States banknotes are banknotes used primarily in the United States of America and are denominated using the United States dollar (USD). Official legislation enacted by Congress known as the Federal Reserve Act of 1913 established the Federal Reserve System in addition to a centralized banking system. In effect, the ability to issue Federal Reserve Notes as legal tender was created. Prior to the formation of centralized banking, commercial banks issued their own notes. The first institution that acted as a central bank was the First Bank of the United States and was charted by Alexander Hamilton in 1791.