Prior to centralized banking, each commercial bank issued its own notes. The first institution with responsibilities of a central bank in the U.S. was the First Bank of the United States, chartered in 1791 by Alexander Hamilton. … See more

Series 1914 FRN were the first of two large-size issues. Denominations were $5, $10, $20, $50, and $100 printed first with a red seal and then … See more

U.S. paper currency has had many nicknames and slang terms. The notes themselves are generally referred to as bills (as in "five-dollar bill"). Notes can be referred to by the first or last name of the person on the portrait (George for one dollar, or even more … See more

The Secretary of the Treasury is charged with the obligation to produce currency and bonds. 31 U.S.C. § 5114. Treasury Department regulations … See more

The authority of the Federal Reserve Banks to issue notes comes from the Federal Reserve Act of 1913. Legally, they are liabilities of the Federal Reserve Banks and obligations of the United States government. Although not issued by the United States Treasury See more

A commercial bank that maintains a reserve account with the Federal Reserve can obtain notes from the Federal Reserve Bank in its district … See more

Security
Despite the relatively late addition of color and other anti-counterfeiting features to U.S. currency, … See more