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The 1914 $10 Red Seal Federal Reserve Note from the Cleveland district, cataloged as Friedberg #895b (Fr#895b), is a highly collectible example of early Federal Reserve currency issued during the formative years of America’s central banking system. Graded VF25 by Legacy Currency Grading, this note represents a solid mid-grade circulated specimen that retains sharp design detail and vibrant overprint color despite moderate handling. The Red Seal notes, printed in small quantities beginning in 1914, are among the scarcest and most visually distinctive large-size Federal Reserve Notes, with red serial numbers and Treasury seals standing in sharp contrast to the more commonly seen blue seal issues of the same series.
The 1914 $10 Red Seal note features a powerful and balanced design with a central portrait of President Andrew Jackson. This engraving, executed with fine detail, captures the determined expression of the seventh U.S. president and military hero, who played a pivotal role in shaping early American politics and finance. Jackson’s portrait is framed within an ornate oval cartouche and flanked by large numeral “10” counters. At the top, the bold title “FEDERAL RESERVE NOTE” is engraved prominently, while “THE UNITED STATES OF AMERICA” is printed directly beneath the portrait. Below this, the legal tender obligation reads: “Will pay to the bearer on demand Ten Dollars,” indicating the note’s redeemability in silver at the time of issuance.
The red Treasury seal is placed to the left of Jackson’s portrait, while the vivid red serial numbers appear at upper right and lower left. These red overprints—unique to the early Red Seal issues—set this note apart from the vastly more common Blue Seal Federal Reserve Notes that dominated subsequent printings. The Cleveland district is indicated by the letter “D” within the black district seal to the left of the Treasury seal, and the issuing institution is explicitly named as the “Federal Reserve Bank of Cleveland, Ohio.” Each of the twelve regional Federal Reserve Banks issued notes bearing their own seals and identifiers, and among these, notes from the Cleveland district are known to be particularly scarce in Red Seal format.
The reverse of the note, like all 1914 $10 Federal Reserve Notes, is printed in a rich green ink and showcases an allegorical vignette titled "Agriculture and Industry." This expansive design features a female allegorical figure representing Agriculture on the left, seated with a sheaf of wheat and surrounded by farming tools. On the right sits Industry, a male figure holding a hammer and accompanied by a gear, anvil, and other symbols of production. Between them is a neoclassical columned structure and the denomination spelled out prominently. The reverse design exemplifies the era’s emphasis on labor, productivity, and American self-reliance—values intended to inspire trust in this new national currency.
Fr#895b is defined by its red seal, red serial numbers, and the engraved signature combination of John Burke as Treasurer of the United States and John Burke (again) as Register of the Treasury—a rare pairing known as the "Burke-Burke" signature variety. This unique combination occurred briefly and adds considerable distinction and collectibility to this Friedberg number. The "b" suffix in the catalog number refers to this specific pairing and differentiates it from other Cleveland issues with different signatories. Very few of these Burke-Burke Red Seal $10 notes were printed or have survived, and they are seldom encountered in any condition.
In VF25 condition, this note exhibits moderate signs of circulation, including soft folds, minor edge wear, and light soiling, but it retains enough crispness to keep the design elements bold and legible. The red overprints remain vibrant and fully intact, and Jackson’s portrait shows strong clarity. Though not uncirculated, VF25 is an attractive grade for collectors who want a scarce and historically significant note with visible detail and original paper integrity at a more accessible price point than higher-grade specimens. The note likely retains good centering and solid margins, free of major distractions like tears, heavy stains, or repairs.
Red Seal Federal Reserve Notes were issued in 1914 and early 1915 as the first large-size currency printed under the new Federal Reserve Act of 1913. These notes were meant to introduce the public to a uniform national currency managed by the newly created Federal Reserve System. The red overprints and specific bank designations helped distinguish them from other types of notes in circulation at the time, such as National Bank Notes, Legal Tender Notes, and Silver Certificates. Once the Red Seal series was phased out, it was replaced by the more common Blue Seal series, making the Red Seals a relatively short-lived and rare issue.
Collectors value the 1914 $10 Red Seal from Cleveland (Fr#895b) not only for its rarity but for its deep historical roots in the reorganization of America’s banking system. The Federal Reserve was created in response to repeated banking panics and served as the cornerstone of a new, centralized financial infrastructure. Early Red Seal notes like this one marked the public debut of that system and carried the symbolic weight of the government’s efforts to modernize its economy. Notes from the Cleveland district, especially with the Burke-Burke signature pair, are especially hard to find, and their survival in collectible condition is increasingly limited.
Assembling a complete set of 1914 Red Seal Federal Reserve Notes by district is a daunting challenge due to the rarity and limited surviving populations of many varieties. The $10 denomination in particular is among the most visually balanced and artistically accomplished designs in the series. With allegorical vignettes on the reverse and a commanding historical portrait on the face, it embodies the best of American currency design from the early 20th century. For collectors focused on Federal Reserve history, Friedberg numbers, or large-size type notes, this VF25 example of Fr#895b offers exceptional value and historical significance.
In summary, the 1914 $10 Red Seal Federal Reserve Note from the Cleveland district, Fr#895b, graded VF25 by Legacy Currency Grading, is a rare and historically rich note from the earliest phase of America’s centralized banking system. With vibrant red overprints, a strong portrait of Andrew Jackson, and allegorical reverse art, this note remains a prized artifact of monetary reform. Its mid-grade status offers an appealing balance of affordability, authenticity, and eye appeal, making it an ideal addition to serious collections of early Federal Reserve Notes or large-size U.S. currency.