Coin Shop Currency - Twelve Regional Federal Reserve Banks - 20180613
Coin Shop Currency - Twelve Regional Federal Reserve Banks
Today's Coin Shop Currency comes from by local bank.
Today's topic can interest you with the currency in your pocket right now.
WHAT'S IN YOUR POCKET?
Today, I have a dollar from the Regional Federal Reserve Bank in Chicago. It is identified by a large G. Each of the Twelve Regional Federal Reserve Banks are identified by a district number and a letter.
When I was at my local bank, I actually asked for 100 One Dollar Bills for this post. I wanted to get one bill from each of the 12 regional Federal Reserve Banks. Many don't realize that there are twelve regional Federal Reserve Banks. See below for the identifying symbols on a Federal Reserve Note to determine which bank provided the bill.
FEDERAL RESERVE SYSTEM
The Federal Reserve System gets its authority from the Federal Reserve Act, which was passed by Congress in 1913.
The structure of the Federal Reserve System is:
- 1 - The Board of Governors
- 2 - The Federal Open Market Committee
- 3 - The Twelve Regional Federal Reserve Banks
- 4 - The member banks throughout the country.
The Federal Reserve System is actually
"Twelve Regional Federal Reserve Banks"
| District # | Letter | Federal Reserve Bank |
|---|---|---|
| 1 | A | Boston |
| 2 | B | New York City |
| 3 | C | Philadelphia |
| 4 | D | Cleveland |
| 5 | E | Richmond |
| 6 | F | Atlant |
| 7 | G | Chicago |
| 8 | H | St Louis |
| 9 | I | Minneapolis |
| 10 | J | Kansas City |
| 11 | K | Dallas |
| 12 | L | San Francisco |
District 1 / Letter: A - Boston
District 2 / Letter: B - New York City
District 3 / Letter: C - Philadelphia
District 4 / Letter: D - Cleveland
District 5 / Letter: E - Richmond
District 6 / Letter: F - Atlanta
District 7 / Letter: G - Chicago
District 8 / Letter: H - St Louis
District 9 / Letter: I - Minneapolis
District 10 / Letter: J - Kansas City
District 11 / Letter: K - Dallas
District 12 / Letter: L - San Francisco
Here's the 100 One Dollar Bills
Here's the 100 One Dollar Bills organized by the corresponding Regional Federal Reserve Bank
WHAT'S IN YOUR POCKET?
Photos taken by me . . . . .
by @goldkey
..
Why do we have Twelve Regional Federal Reserve Banks and why do we have notes printed with their letters? Are there 12 BEPs?
Apparently, with the establishment of the Federal Reserve System in 1913, the nation was divided into twelve Federal Reserve Districts or regions. The districts/regions were determined back in 1913 based on the population numbers at that time. These Federal Reserve Banks distribute the currency to member banks. The letter indicates the bank that distributed the currency into circulation.
There is only one U.S. Bureau of Engraving and Printing, which apparently prints currency for "its customer".
I found this statement at their website:
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Nice, did the bank look at you funny when you requested 100 one dollar bills? I used to go to the bank and get rolls of half dollars and go through them looking for Silver/Clad and then return them to another bank. I found some banks refused to take them. I then tried to spend them and at a Walmart a checker asked me if they were real, the times we live in!
She was fine with the 100 one dollar bills, she grabbed a stack with a 100 band around it and said, "Do you want me to count these out?"
However, she was stunned when I asked for 50 Two Dollar bills. She could only come up with 25 Two Dollar bills.
Very interesting. I do not know all that. I enjoy learning something new. Great post
I am glad that you enjoyed it. I had some fun creating this post because I always look at the serial numbers and the letter. I look at the serial number for a star. The letter is usually a "G" for Chicago for me in Midwest USA, so I look to find other locations.
Great information here, thx @goldkey very interesting
Thanks @goldenarms, there are tidbits of information that I wanted to share about our currency.
Great Post...
Thanks :)
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Great post
Thank You!
excellent post!! (and thanks for your support)..
Thanks :)
and thank you!