Series (United States currency)
Encyclopedia
On U.S. currency
, the series refers to the year appearing on the front of a bill, indicating when the bill's design was adopted. The printed series year does not indicate the year a bill was printed, instead it indicates the earliest year that bills of the same design were first made. For example, Series of 1882 gold certificates were being printed as late as 1927.
s introduced in 1869. Before that, paper currency was identified only by the act authorizing it, for example, the act of March 3rd, 1863. For these bills, the serial number uniquely identified the bill, except for some issues that exceeded one million bills. In that case, the sequence of serial numbers was restarted, and an extra overprint of 'Series 1' was added to the bill. When one million bills in 'Series 1' were printed, 'Series 2' was used, and so on. 'Series 187' is the highest series number of this sort that was used, on the United States Notes of 1863, in the $5 denomination.
Other notes were identified by a date of issue. Interest-bearing notes were carefully identified as to the date of issue, because they reached maturity a fixed amount of time later. Gold Certificate
s, issued upon the government receiving a deposit of gold, were dated by hand, and also the depositor was identified. Only the depositor could redeem an early gold certificate. Starting with the Series of 1882, Gold Certificates were made payable to the bearer.
National Bank Notes were given a date as well. However, this was not when the bill was first circulated, but rather when the bill was sent from the federal government to the issuing bank, which could then release it at its own convenience. National currency, issued and unissued, has a series date (corresponding to when the design was last changed) and a release date.
The first series printed by the Federal Reserve was Series 1914. It contained a $5 bill with Abraham Lincoln
, a $10 bill with Andrew Jackson
, and a $20 bill with Grover Cleveland
, all of which were large-sized note
s.
The next series was Series 1918, which had large-sized note
s in denominations from $50 to $10,000. The portraits were the same as the ones mentioned in United States dollar
with one exception; the $1000 bill had Alexander Hamilton
.
became Secretary of the Treasury. Before 1974, a change to either the signature of the Secretary of the Treasury
or the Treasurer
was considered a minor change; after 1974, a new Secretary of the Treasury was considered a major change. (The only exception to this was in 1979, G. William Miller
's signature appeared on Series 1977A instead of Series 1979.) A change in Treasurer is still considered a minor change. Changes in design, such as the recent changes to the $20 bill to deter counterfeit
ing, are still considered major changes.
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
, the series refers to the year appearing on the front of a bill, indicating when the bill's design was adopted. The printed series year does not indicate the year a bill was printed, instead it indicates the earliest year that bills of the same design were first made. For example, Series of 1882 gold certificates were being printed as late as 1927.
Before 1928
The first U.S. currency with a series year was printed on United States NoteUnited States Note
A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for over 100 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks" in their heyday, a...
s introduced in 1869. Before that, paper currency was identified only by the act authorizing it, for example, the act of March 3rd, 1863. For these bills, the serial number uniquely identified the bill, except for some issues that exceeded one million bills. In that case, the sequence of serial numbers was restarted, and an extra overprint of 'Series 1' was added to the bill. When one million bills in 'Series 1' were printed, 'Series 2' was used, and so on. 'Series 187' is the highest series number of this sort that was used, on the United States Notes of 1863, in the $5 denomination.
Other notes were identified by a date of issue. Interest-bearing notes were carefully identified as to the date of issue, because they reached maturity a fixed amount of time later. Gold Certificate
Gold certificate
A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a US paper currency and a current meaning as a way to invest in gold....
s, issued upon the government receiving a deposit of gold, were dated by hand, and also the depositor was identified. Only the depositor could redeem an early gold certificate. Starting with the Series of 1882, Gold Certificates were made payable to the bearer.
National Bank Notes were given a date as well. However, this was not when the bill was first circulated, but rather when the bill was sent from the federal government to the issuing bank, which could then release it at its own convenience. National currency, issued and unissued, has a series date (corresponding to when the design was last changed) and a release date.
The first series printed by the Federal Reserve was Series 1914. It contained a $5 bill with Abraham Lincoln
Abraham Lincoln
Abraham Lincoln was the 16th President of the United States, serving from March 1861 until his assassination in April 1865. He successfully led his country through a great constitutional, military and moral crisis – the American Civil War – preserving the Union, while ending slavery, and...
, a $10 bill with Andrew Jackson
Andrew Jackson
Andrew Jackson was the seventh President of the United States . Based in frontier Tennessee, Jackson was a politician and army general who defeated the Creek Indians at the Battle of Horseshoe Bend , and the British at the Battle of New Orleans...
, and a $20 bill with Grover Cleveland
Grover Cleveland
Stephen Grover Cleveland was the 22nd and 24th president of the United States. Cleveland is the only president to serve two non-consecutive terms and therefore is the only individual to be counted twice in the numbering of the presidents...
, all of which were large-sized note
Large-sized note
A large-sized note is a bill of any denomination of U.S. currency printed between 1863 and 1929. This is in contrast with small-sized notes, which were printed starting in 1928. Large-sized notes exist in denominations of $1 through $10,000. The most common large-sized notes are the Federal Reserve...
s.
The next series was Series 1918, which had large-sized note
Large-sized note
A large-sized note is a bill of any denomination of U.S. currency printed between 1863 and 1929. This is in contrast with small-sized notes, which were printed starting in 1928. Large-sized notes exist in denominations of $1 through $10,000. The most common large-sized notes are the Federal Reserve...
s in denominations from $50 to $10,000. The portraits were the same as the ones mentioned in United States dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
with one exception; the $1000 bill had Alexander Hamilton
Alexander Hamilton
Alexander Hamilton was a Founding Father, soldier, economist, political philosopher, one of America's first constitutional lawyers and the first United States Secretary of the Treasury...
.
Since 1928
Series 1928 was the first series of modern, small-sized notes issued. Since then, the series year has been changed when there is a major design change to a bill; a minor design change is indicated by a letter suffix being added to the series year. Major design changes were rare until 1974, when William E. SimonWilliam E. Simon
William Edward Simon was a businessman, a Secretary of Treasury of the U.S. for three years, and a philanthropist. He became the 63rd Secretary of the Treasury on May 8, 1974, during the Nixon administration. He was reappointed by President Ford and served until 1977. Outside of government, he was...
became Secretary of the Treasury. Before 1974, a change to either the signature of the Secretary of the Treasury
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
or the Treasurer
Treasurer of the United States
The Treasurer of the United States is an official in the United States Department of the Treasury that was originally charged with the receipt and custody of government funds, though many of these functions have been taken over by different bureaus of the Department of the Treasury...
was considered a minor change; after 1974, a new Secretary of the Treasury was considered a major change. (The only exception to this was in 1979, G. William Miller
G. William Miller
George William Miller served as the 65th United States Secretary of the Treasury under President Carter from August 6, 1979 to January 20, 1981...
's signature appeared on Series 1977A instead of Series 1979.) A change in Treasurer is still considered a minor change. Changes in design, such as the recent changes to the $20 bill to deter counterfeit
Counterfeit
To counterfeit means to illegally imitate something. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product...
ing, are still considered major changes.