Editor's note: The following is the first of a multi-part Coin World series prepared by Michele Orzano for the September 2014 monthly edition of Coin World.
Read the latest post in the series:
Pull out the paper cash in your pocket or wallet.
What do you see? Probably some $1s and $5s … maybe a $20, if it’s early in the week.
Nothing much to collect, right?
If you haven’t looked closely, you’ve missed some valuable details about those notes.
Let’s start by looking at the $1 Federal Reserve notes you’ve got.
Series year dates
First, look for the series year date. Unlike coins, U.S. paper money has a series year date that traditionally does not change each calendar year.
Generally, the series date changes when a denomination has a major redesign or when a new U.S. Treasury secretary is confirmed. The addition of a letter to the series date generally happens when a new United States treasurer takes office. Though aspects of the process have changed through the years, this is enough information to get started.
The series year date is usually in the lower right of the face of the note. What’s the newest series you have, and what’s the oldest?
You may find it helpful to know that in June and July of 2014, the Bureau of Engraving and Printing produced Series 2009 and Series 2013 $1 FRNs, Series 2013 $5, $10, $20 and $50 FRNs and Series 2009A $100 FRNs.
Federal Reserve notes continue to circulate based on their physical condition, not current series year date in production.
Next look in the lower right corner on the face of your note. If you see a small “FW” right next to the plate-letter-number combination you have a “Fort Worth note,” from the BEP’s Western Currency Facility in Fort Worth, Texas.
Notes began to be printed at the Fort Worth facility in February 1991 and all notes bear what is called the FW facility mark to distinguish the notes from those printed at the BEP headquarters in Washington, D.C. Notes printed at the Washington, D.C., facility have no specific designation of origin.
Federal Reserve districts
Searching for the $1 Federal Reserve note can be the easiest way to form an inexpensive collection with plenty of variations.
One of the easiest ways to collect is to assemble from circulation a collection of $1 FRNs from each of the Federal Reserve District Banks.