1914 $10 Federal Reserve Note – San Francisco | Fr. 951b | PMG AU 55

1914 $10 Federal Reserve Note – San Francisco | Fr. 951b | PMG AU 55 | Large Size

For collectors of early Federal Reserve Notes (FRNs), this 1914 $10 Federal Reserve Note from San Francisco (Fr. 951b) is an extraordinary find. Graded PMG About Uncirculated (AU) 55, this note remains in outstanding condition, preserving its crisp paper, strong ink contrast, and bold design. As part of the first series of large-size FRNs, this banknote represents a pivotal moment in U.S. monetary history.

Issued by the $10 Federal Reserve Note of San Francisco, this large-size $10 bill features a blue Treasury seal, a portrait of Andrew Jackson, and an intricately designed reverse illustrating Agriculture and Industry. With its rarity, historical significance, and high-grade preservation, this note is a prime collectible for both seasoned numismatists and investors.

Key Features of This 1914 $10 Federal Reserve Note (Fr. 951b – San Francisco District)

1. First Large-Size Federal Reserve Notes

• The 1914 Series represents the first $10 Federal Reserve Notes issued under the Federal Reserve Act 1913.
• It marked the transition from National Bank Notes to a unified currency backed by the newly established Federal Reserve System.

2. Large-Size Currency Design & Artwork

• Measuring 7.38 x 3.13 inches, this note is significantly larger than modern U.S. bills.
• The obverse (front) features President Andrew Jackson, the seventh U.S. president and a key figure in early American banking policy.
• The reverse (back) presents an allegorical vignette titled Agriculture and Industry, symbolizing the strength of the American economy.

3. San Francisco Federal Reserve Bank Issue

• Identified by the “L” seal, this note was issued by the Federal Reserve Bank of San Francisco, one of the 12 regional banks.
• Fr. 951b refers to the specific Friedberg catalog number, distinguishing it from other varieties of the 1914 $10 FRN.
• Treasury signatures of John Burke (Treasurer of the U.S.) and William G. McAdoo (Secretary of the Treasury) further authenticate this note.

4. PMG AU 55 Grade – Exceptional Condition

• Professionally graded by PMG (Paper Money Guaranty), one of the most respected currency grading services.
• AU 55 (About Uncirculated) means this note has minimal handling marks, retaining its original crispness and bold ink detail.
• This level of preservation is uncommon for early large-size notes, making this an excellent investment.

5. Collector Demand & Rarity

• Large-size Federal Reserve Notes from 1914 are becoming increasingly difficult to find, especially in higher grades.
• Notes from the San Francisco district (Fr. 951b) are particularly sought after due to their lower survival rates.

Historical Significance of the 1914 $10 Federal Reserve Note

The issuance of large-size Federal Reserve Notes in 1914 was a defining moment in U.S. banking history. Before the Federal Reserve system was established, the U.S. currency landscape was fragmented, with thousands of National Banks issuing their banknotes.

The $10 Federal Reserve Note Act of 1913 created a centralized banking system and introduced $10 Federal Reserve Notes, which became the foundation of modern U.S. currency. These 1914 FRNs were the first banknotes issued under the new system, making them highly significant to collectors and historians.

Investment Potential & Collectibility

✔ Rare Early Federal Reserve Issue – As one of the first FRNs, this note holds both historical and numismatic importance.
✔ Large-Size Currency Demand – Pre-1928 banknotes are highly sought after due to their detailed artwork and larger format.
✔ PMG Certified (Trusted Third-Party Grading) – Guarantees authenticity and preservation.
✔ Scarce in High Grades – Finding a 1914 $10 FRN from San Francisco in AU 55 condition is increasingly rare.

Given its scarcity, historical value, and strong demand among collectors, this note represents an excellent investment opportunity.

How to Preserve & Protect Your 1914 $10 FRN

To maintain the note’s condition and value:

✔ Store in a PMG/PCGS-Certified Holder – Ensures long-term protection from environmental damage.
✔ Handle with Gloves or Use Tweezers – Prevents oils from affecting the paper.
✔ Keep in a Climate-Controlled Environment – Avoids moisture, sunlight, and heat exposure.
✔ Flat Storage Recommended – Prevents creases or folds that could lower its grade.

Final Thoughts – A Rare and Historic Collectible

This 1914 $10 Federal Reserve Note (San Francisco – Fr. 951b, PMG AU 55) is an exceptional example of early U.S. paper money. With its large-size format, intricate design, historical importance, and high-grade condition, this note is a must-have for collectors of Federal Reserve history, large-size currency, and rare U.S. banknotes.

As demand for well-preserved early Federal Reserve Notes continues to grow, acquiring a high-grade example from the San Francisco district is a valuable investment that will stand the test of time.

Don’t miss your opportunity to own this rare and historic 1914 $10 FRN—secure it today!