Currency
Currency NOTESBu r e au o f en g r av i n g a n d Pr i n t i n gCurrency OF PAPEr Currency AN OvErviEw . . . . . . . . . . . . . . . . . . . . . 1The federal reserve sysTem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1CurrenCy Today . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Federal reser ve Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2PasT Currency Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2valuation of Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2Demand Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2United states Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Fractional Currency .
the United States. As a result, the Federal Reserve Act of December 23, 1913, established the Federal Reserve System and authorized the printing of Federal Reserve Notes. Since these notes were first issued in 1914, they have always been produced by the Bureau of Engraving and Printing. The 12 Federal Reserve banks and their code letters are: 1.
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