Collectors can be on the lookout for the first U.S. paper money printed on 50-subject sheets to be released into circulation — Series 2013 $1 Federal Reserve notes.
The shipment in April of notes from 50-subject sheets rather than the 32-subject sheets introduced in the 1950s is the culmination of more than a decade of testing and experimentation by the Bureau of Engraving and Printing.
When exactly collectors should be seeing the notes is not clear, however.
“The time it takes the new series notes to get into circulation will depend on inventory levels of existing $1 FRNs at Federal Reserve Banks and the policies of each depository institution,” according to a spokesperson for the Federal Reserve Board.
The Series 2013 $1 FRNs were printed for the Kansas City, Dallas and Cleveland Federal Reserve Banks.
When the new notes do begin to circulate they will likely draw the intense interest of many paper money collectors; $1 Federal Reserve notes have been a collector favorite since the first ones were introduced in 1963.
A minor technical change to the alpha-numeric note-position identifier on the face of the new $1 notes will help distinguish them from older notes printed on 32-subject sheets. The note-position identifier is found in the upper left-hand corner on the face of $1 Federal Reserve notes.
The letter and number that form the note-position identifier on notes from a 50-subject sheet are of equal size, while on notes from 32-subject sheets, the letter is larger than the number. In addition, the alpha-numeric character combination on the 50-subject sheet notes is smaller than the same device on $1 32-subject sheet FRNs.
The Series 2013 $1 FRNs were printed on 50-subject sheets on Super Orloff Intaglio presses. Series 2013 notes all have the facsimile signatures of Treasury Secretary Jacob “Jack” Lew and Treasurer of the United States Rosa “Rosie” Gumataotao Rios.
For the immediate future, collectors may have to be satisfied with collecting individual 50-subject $1 notes from what they can find in circulation. Currently the BEP has no plans to sell 50-subject uncut sheets of notes. The bureau does sell sheets of older $1 notes, including partial sheets and full 32-subject sheets.