Series 1934 A $500 Note FRN Philadelphia Fr#2202-C PMG VF25 Minor Thinning Ink

Product Description

A Series of 1934 A $500 Federal Reserve Bank of Philadelphia, Pennsylvania Fr#2202-C CA Block with signatures Julian/Morgenthau with serial # C00052857A graded Very Fine 25 (VF-25) with annotations for minor thinning and ink by Paper Money Guaranty (PMG). This note displays an original paper color with some light yellowing, heavy visible creases/folds, red ink visible on the reverse and uneven 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.