Types of U.S. Notes

There have been many different types of currency recognized by the United States (or parts within) since its inception. Some discontinued forms include Fractional Currency, Confederate Currency, and Military Payment Certificates. U.S. currency is often refered to as either Large or Small Sized Currency.

Large Sized Currency

More than a dozen different types of Large Sized Currency (7 3/8" by 3 1/4") have circulated in the United States since the beginning of the 19th Century. Some of these include War of 1812 Treasury Notes, Compound Interest Treasury Notes, and Refunding Certificates. A brief description of two important type of Large Sized notes follows.

Demand Notes (1861)

Coming in $5, $10, and $20 denominations, Demand Notes were one of the earliest forms of currency issued by the United States government. These notes were unique at the time in that they had printing on their back - in green ink. Hence, they earned the nickname "Greenbacks".

National Bank Notes (1863-1935)

These notes were printed by the federal government, but issued by banks with national charters and backed by securities held at the U.S. Treasury.

Small Sized Currency

The United States began issuing currency that was about 25% smaller than the Large Sized Currency it had been issuing. All notes in this series contain dimensions of 6 1/8" wide by 2 5/8" tall. All six types of Small Sized Currency (listed below) had larger versions that preceded them.

Legal Tender/United States Notes (1862-1966)

The longest running type of currency, these notes were dated from 1862-1923 in the Large Sized variety and 1928-1966 in the Small Siz variety. Backed only by the good word of the government, these notes were a fiat currency. These notes ranged in denomination from $1 to $1000. The sample Atlantic Collection note pictured in the Note Gallery section is a Legal Tender Note.

National Currency (1863-1929)

Bearing the words "National Currency" at the top of the note in the center, these notes were issued by those banks that received a charter from the United States. The government was hardly selective; over 14,000 banks issued this type of currency.

Gold Certificates (1865-1934)

This currency, was backed by and redeemable in gold coin. Gold Certificates ranged in denomination from $10 to $10,000. Owning gold certificates became illegal in 1933. When Franklin Delano Roosevelt issued an executive order requiring citizens to turn in all gold coin, gold bullion, and gold certificates. Interestingly, these certificates were printed the year after Congress passed this act, although they were never circulated.

Silver Certificates (1878-1963)

As with Gold Certificates, their silver counterparts were issued in both Large and Small Size currency. They were redeemable for silver coins being reserved in the Treasury for these certificates. Until 1964, they could still be redeemed for silver dollars, and for silver bullion until 1968.

Federal Reserve Bank Notes (1913-1933)

Very similar to National Bank Notes, these notes were issued and backed by the Federal Reserve Bank. The smaller versions of these notes were issued in 1933 (although dated Series of 1929) and were printed on paper that had already been partially printed for National Bank Notes.

Federal Reserve Notes (1913-Present)

This is the same money you carry in your wallet today and the only kind that is currently issued by the federal government. Each note bears a letter corresponding to the Federal Reserve Bank that issued it (“A” for Boston, “F” for Atlanta, “I” for Minneapolis, etc.)