The 1918 $1 Federal Reserve Bank Note (FRBN), colloquially known as the "Green Eagle", holds a unique place in American numismatic history. This note was part of the second issue of FRBNs, which ranged from denominations of $1 up to $50.
The obverse of the 1918 $1 Federal Reserve Bank Note is an intricate design
The Green Eagle was issued as an emergency response during a critical shortage of currency following the removal of silver certificates from circulation under the Pittman Act. This move was made due to the economic pressures of World War I and the subsequent demand for silver. The FRBNs stepped in to fill this gap, providing a valuable means of exchange during a turbulent time in American history.
Detailed Description of the 1918 $1 FRBN One Dollar Bill:
The 1918 $1 Green Eagle is a large-sized note with dimensions of 7.375 x 3.125 inches (187 x 79 mm). During World War I, a shortage of linen occurred due to the increased demand for resources to support the war effort. As a result, all of the notes from the Series of 1918 FRBNs were printed from 100% cotton paper.
Detailed Examination of the 1918 $1 FRBN Green Eagle:
The obverse side of the 1918 $1 Federal Reserve Bank Note is an intricate blend of design and declaration. On the left side dignified portrait of George Washington. This portrait of the nation's first president, painted by Gilbert Stuart.
A closer look at the $1 1918 Green Eagle from both sides.
The small blue scalloped seal is typically located on the right-hand side of the note. The blue serial number, a unique identifier for each FRBN, is repeated twice on the banknote. It is positioned both in the upper right and lower left of the note.
Above the portrait, at the top border the words "National Currency" are displayed. The words "Federal Reserve Bank Note" are prominently displayed at the lower border, distinguishing this type of note from other types of currency circulating at the time.
The reverse of the 1918 $1 Federal Reserve Bank Note is perhaps its most distinctive feature. It features a beautifully engraved depiction of a majestic bald eagle in mid-flight, clutching an American flag in its talons which make it famous with the nickname “GREEN EAGLE”.
Above the eagle, the denomination of the note is clearly stated: "One Dollar." The words "National Currency" and "Federal Reserve Bank Note" are also prominently displayed.
Learn more about: 1918 $2 FRBN "BATTLESHIP"
Signature Combinations on the Federal Reserve Bank Note (FRBN) Two Dollars Bill:
Unlike many other forms of U.S. currency, FRBNs feature a combination of four signatures. These signatures represent the individuals in key positions of authority and responsibility. Alongside the customary signatures of the Treasurer of the United States and the Register of the Treasury, FRBNs also bear the signatures of the Cashier and the Governor of the respective Federal Reserve Bank associated with the note's origin.
If you are a collector focusing on signature combinations, the Federal Reserve Bank of Atlanta's 1918 $1 Federal Reserve Notes are often considered one of the most challenging to find. However, it is worth noting that despite their relative scarcity, the 1918 $1 Federal Reserve Notes, including those from the Federal Reserve Bank of Atlanta, are still relatively easy to find in various conditions. This is primarily due to the significant quantities in which they were released at the time. The widespread availability of these notes allows beginner collectors to pursue and acquire examples for their collections without encountering significant scarcity challenges.
