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1918, $1 Federal Reserve Bank Note. Boston

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:500.00 USD Estimated At:1,000.00 - 1,100.00 USD
1918, $1 Federal Reserve Bank Note. Boston
<Our item number 127894><B>1918, &#36;1 Federal Reserve Bank Note. Boston. Fr-<B>708</B>. KL-61. PCGS Gem New 66 PPQ.</B> Low serial number and a popular design featuring a large eagle for the back. Excellent centering plus bright color and embossing give it the necessary advantage that is so admired by collectors.<BR><BR>National Currency, or Federal Reserve Bank Notes as they are also called, were a subset of the contemporary Federal Reserve Notes in that the obligation to pay the bearer on demand is made by the specific Federal Reserve Bank indicated on the front of the note and not by the United States or the Federal Reserve System in general. Although technically neither a gold nor a silver certificate &#40;they are IOU-nothings and purely fiat&#41;, at the time &#40;and until 1933&#41;, these could be redeemed in specie at banks or at the local Reserve bank of issue by the bearer. <BR>Estimated Value &#36;1,000 - 1,100. <BR><BR>Our item number 127894<BR><IMAGES><P ALIGN="CENTER"><IMG SRC="http://www.gol dbergcoins.net/liveauction/44jpegs/127894.jpg"> <BR><IMG SRC="http://www.goldbergcoins.net/liveauction/44jpegs/127894N2.jpg"> <BR><IMG SRC="http://www.goldbergcoins.net/liveauction/44jpegs/127894N3.jpg"> <BR><IMG SRC="http://www.goldbergcoins.net/liveauction/44jpegs/127894N4.jpg"> </P></IMAGES>