Talk:Federal Reserve Note

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I edited this article to insert commas in "$1,000" and "$5,000" for consistency with "$10,000". This has now been reverted by 636Buster, stating: "the reason those notes are printed without commas is because they aren't printed so on the note."

Wikipedia has its own style guide that we follow, irrespective of what the Federal Reserve may print on banknotes, so we are not bound to follow their style. Wikipedia:Manual of Style/Dates and numbers#Delimiting (grouping of digits) currently says:

• Numbers with five or more digits to the left of the decimal point (i.e. 10,000 or greater) should be delimited into groups so they can be easily parsed, such as by using a
  decimal point
  .
• Numbers with four digits to the left of the decimal point may or may not be delimited (e.g. 1250 or 1,250).

So even if the banknotes read "$10000" without a comma, Wikipedia's style guide requires it ("$10,000"). There is a discussion at Wikipedia talk:Manual of Style/Dates and numbers#Comma delimiting for four-digit numbers proposing to amend the second point to read:

• Numbers with four digits to the left of the decimal point may or may not be delimited (e.g. 1,250 or 1250). They should be delimited when used alongside other numbers that are delimited, such as in lists or tables (e.g., $500, $1,000, $5,000, $10,000 instead of $500, $1000, $5000, $10,000).

Feel free to comment on the proposal there. —sroc 💬 14:24, 1 March 2014 (UTC)[reply]

I have moved some of the images around. The sections beginning with Production and distribution appear to be describing the small-size FRN of 1928 and later (or even more of the present day issue).

I reworked and inserted the existing 1914 type set (adding the four high denomination 1918 notes in the process). This was added between the section titled Value and the section on Production and distribution to serve as a more chronological bridge between the first (and only) large size FRN issues and the notes of today. Will add more information to the table.-Godot13 (talk) 18:51, 6 July 2014 (UTC)[reply]

"The popularity of the Saturday Night Live skit "Lazy Sunday" has led to $10 notes sometimes being referred to as "Hamiltons". " I recall hearing them called Hamiltons DECADES before that SNL skit. --Khajidha (talk) 10:41, 29 April 2015 (UTC)[reply]

Never mind, I have removed the uncited assertion. --Khajidha (talk) 12:05, 29 April 2015 (UTC)[reply]

So where's the info on the current paper money? That seems like important info. 108.203.78.77 (talk) 06:42, 19 June 2015 (UTC)[reply]

I agree that there doesn't seem to be a Wikipedia article on the list of current U.S. paper currencies that are valid as legal tender (meaning that they, if handed over to a creditor in a certain quantity, will erase the creditor's ability to undertake further action to induce the debtor to hand over more of either (a) paper currencies recognized as "legal tender" for the purpose of erasing (or partially erasing) the creditor's possibility for further action or (b) material things (including future actions) that can be readily exchanged for (a). By extension this applies to the nullifying of the possibility of a charge of theft by handing over such paper currency-notes at the time of taking possession of items formerly "owned" by another. This does not mean that handing over currency-notes that are deemed "legal tender" for this purpose is the ONLY way to nullify future actions against the person taking possession. Anyway, as to the incompleteness of Wikipedia's articles on U.S. legal tender currency-notes, many articles on these currency-notes omit the one-dollar bill. Where would be go to find that included in a full list?2600:1700:6759:B000:1C64:8308:33BC:E2D6 (talk) 20:15, 11 August 2023 (UTC)Christopher L. Simpson[reply]

What does this even mean? It's in the opening paragraph. --Rebroad (talk) 14:50, 12 September 2016 (UTC)[reply]

The "obligation" used to refer to the fact that there was text on the note saying that the United States would "pay to the bearer on demand" the value of the note. You could essentially read the note from top to bottom and see that "The United States" "will pay to the bearer on demand" "five dollars" (or whatever the denomination of the bill).Almostfm (talk) 17:34, 12 September 2016 (UTC)[reply]

==That's not clear enough==

The article states at least twice that these currency-notes are liabilities of the Reserve Banks and obligations of the United States. The article should then explain the difference between "liabilities" and "obligations". The legend on the paper itself does not explain. The word "pay" does not need to be explained when I buy a car by PAYING its owner for it in exchange for getting a document ("title") that controls the actions of certain people. Law-enforcement personnel will act to restore the car to my possession and control upon my say-so if the car has been removed from my possession and control by someone acting contrary to my will. Certain other personnel acting in the employment of government may physically act to cause the person who removed the car from my possession and control (contrary to my will) to be placed in prison for a certain amount of time or to have their possessions seized to a certain extent. Notice that when I explain the transaction in this way I don't say "own", because "own", without the STORYTELLING or NARRATIVE about what happens in physical reality, with actual people behaving in a certain manner, is an empty metaphysical concept. But while we don't need to define "pay" in the context of this car, I think we DO need to define "pay" in the context of banknotes. Does "pay" mean to take the note from the bearer and give the bearer a certain amount of a certain metal in return? How much metal? How is that determined? If "pay" does not mean that, what DOES it mean? Until the concept of "pay" is explained (as an encyclopedia should explain it), the reader does not know what the legend "will pay to the bearer" really MEANS. Also, the paragraph says that "obligation" is something that "USED TO refer to the fact ...". So if it FORMERLY referred to that fact, to what does it refer NOW? And that doesn't really explain the difference between an "obligation" and a "liability".2600:1700:6759:B000:1C64:8308:33BC:E2D6 (talk) 20:06, 11 August 2023 (UTC)Christopher L. Simpson[reply]

FRNs are secured liabilities. The United States, as obligor, promises to redeem them. The Federal Reserve Banks, as lienees, pledge assets to the US that may be used to redeem them. 98.248.84.55 (talk) 05:46, 21 August 2023 (UTC)[reply]

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A couple of days ago, an addition to the article was made suggesting that there had been a $100 million FRN "special wartime issue" had been made. I reverted the change because I've never seen any evidence that this actually happened, other than some laughably bad forgeries. 2607:fb90:6050:28d:0:40:748c:6201, who made the original addition reverted my change without explanation. I've left a note on his talk page asking if he's got any evidence, but I haven't heard back. I wanted to get consensus on this rather than engaging in an edit war. Almostfm (talk) 06:25, 21 March 2017 (UTC)[reply]

I don't get it; the article on United States Notes seems to imply they were printed until 1971, where they were replaced by Federal Reserve Notes. But according to this article, FRNs were being issued as early as 1914. Were they both issued concurrently? And what was the difference between the two? It ought to make this a little clearer, because I don't understand it at all.

Idumea47b (talk) 05:32, 27 September 2018 (UTC)[reply]

Yes-both FRNs and USNs were issued from 1914 through 1971 (although very few of the Series 1966 and 66A $100 USNs ever saw actual circulation). The main functional difference is that USNs were issued directly by the Treasury, while FRNs were issued through the Federal Reserve System, and the amount of USNs that could legally be in circulation was capped at a little under $400 million. Almostfm (talk) 20:48, 27 September 2018 (UTC)[reply]