The Federal Reserve Act of 1913 resulted in the release of two different kinds of paper notes with the term “Federal Reserve” included. The Federal Reserve Note is the only one of those two still in circulation. The Federal Reserve Bank Note was a separate series that was only accepted through 1934. Right now, 1918 $1 Flying Eagle Federal Reserve Bank Notes in Very Fine condition are available to purchase online from JM Bullion.

Note Highlights:

• Arrives in a protective currency sleeve!
• First date for the $1 Federal Reserve Bank Note!
• Now-popular effigy of President Washington featured!
• Bears a face value of $1 (USD) backed by the federal government.
• On the obverse is a portrait of President George Washington along with other notations.
• The reverse has an artistic rendition of the bald eagle clutching an American flag.
• Very Fine notes.
• Please note that Federal Reserve Bank Notes were issued by individual branches of the Federal Reserve Bank system. As such, you could find various jurisdictions noted in the obverse field.

Each 1918 $1 Flying Eagle Federal Reserve Bank Note listed here was introduced for the first time in 1918 and comes with a protective currency sleeve for shipping. This sleeve helps protect the Very Fine condition of the notes. A note in Very Fine condition boasts its original crispness from when it was first printed. However, as a result of light circulation, you will notice folds, wrinkles, or other creases. Otherwise, the other flaws in the note are not easily seen by the naked eye. The overall appeal is above average for such a note.

Federal Reserve Bank Notes and Federal Reserve Notes had one major difference when in circulation together. The Federal Reserve System consists of 12 branch banks across the country. Federal Reserve Notes were then, and are now, backed by all 12 branches. However, Federal Reserve Bank Notes are only backed by one of the 12 branch locations. You can tell which one by looking at the obverse field. In the center, you will find the name of the Federal Reserve Bank that issued and backs the note.

On the obverse of 1918 $1 Flying Eagle Bank Notes is a portrait of President George Washington. Unlike other notes, this design puts Washington’s bust in an oval shape to the left of the central design field. In the center of the note are inscriptions of “The Federal Reserve Bank” followed by the name of one of the 12 Federal Reserve Banks. This includes banks such as Boston, Philadelphia, Cleveland, Atlanta, Chicago, Dallas, or Minneapolis.  The serial numbers and US Treasury seal are featured in blue ink.

The reverse face of 1918 Flying Eagle Federal Reserve Bank Notes comes with a depiction of the American bald eagle. Similar to the Black Eagle from the 1899 Silver Certificate, this bald eagle has its wings flexed with its talons clutching an American flag on a flagpole.

If you have any questions, JM Bullion would be happy to help. Please call us at 800-276-6508, chat with us live online, or simply send us an email with your inquiries.