1929 20 Dollar Bill Federal Reserve Bank Of Philadelphia
The 1929 $20 bill is a rare and valuable piece of American currency that was issued by the Federal Reserve Bank of Philadelphia. This bill is also known as the "National Currency" and is highly sought after by collectors and investors alike. In this article, we will discuss the history, design, and value of the 1929 $20 bill.
History of the 1929 $20 Bill
The 1929 $20 bill was issued during the Great Depression, a period of economic turmoil in the United States. The Federal Reserve Bank of Philadelphia was one of twelve regional banks that were authorized to issue currency under the Federal Reserve Act of 1913. The purpose of this act was to create a more stable and flexible monetary system in the United States.
The 1929 $20 bill was part of a series of National Currency bills that were issued by the Federal Reserve Banks. These bills were backed by the assets of the issuing bank and were redeemable in gold or silver at the discretion of the bank. The National Currency bills were in circulation from 1863 to 1935, and were replaced by Federal Reserve Notes.
Design of the 1929 $20 Bill
The 1929 $20 bill features a portrait of Andrew Jackson, the seventh President of the United States, on the front. The words "Federal Reserve Bank of Philadelphia" are printed above and below the portrait, along with the bill's denomination and series number. The back of the bill features an image of the United States Capitol building, along with the words "Twenty Dollars" and "National Currency".
The 1929 $20 bill was printed in a size of 6.14 inches by 2.61 inches, with a green seal and serial numbers. The bill was also printed with a unique serial number, which makes each bill distinct from all others in the series.
Value of the 1929 $20 Bill
The value of the 1929 $20 bill depends on a number of factors, including its condition, rarity, and historical significance. A well-preserved bill in uncirculated condition can be worth several thousand dollars, while a bill that has been heavily circulated may be worth less than its face value.
Collectors and investors typically look for bills that are in excellent condition, with no folds, creases, or tears. Bills that have been professionally graded and certified by a third-party grading service, such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC), are also highly desirable.
Conclusion
The 1929 $20 bill Federal Reserve Bank of Philadelphia is a rare and valuable piece of American currency that is highly sought after by collectors and investors. Its historical significance, unique design, and scarcity make it a prized addition to any collection. Whether you are a seasoned collector or a novice investor, the 1929 $20 bill is a must-have for anyone interested in the history of American currency.