-
Inventory:
OUT OF STOCK
- Product ID: 15480
Checkout
The 1929 $10 Federal Reserve Note from the Federal Reserve Bank of Boston, Massachusetts, is a notable piece of small-size U.S. currency issued during a pivotal time in American financial history. These notes were introduced following the Banking Act of 1933, which standardized U.S. currency in both size and format. The 1929 series marked the first appearance of small-size Federal Reserve Notes, replacing the larger notes used earlier. Issued amid the Great Depression, these notes reflect both a new direction in U.S. monetary policy and the challenges of a nation in economic crisis. A note in Fine to Very Fine (F-VF) condition provides collectors with a historically significant artifact that retains full legibility and considerable visual appeal despite showing moderate signs of circulation.
The obverse of the 1929 $10 Federal Reserve Note features a bold portrait of Alexander Hamilton, the first Secretary of the Treasury and architect of the U.S. financial system. Hamilton is presented in a formal oval frame, with the denomination “TEN DOLLARS” to his left and right, and “THE UNITED STATES OF AMERICA” and “FEDERAL RESERVE NOTE” prominently displayed across the top. The serial numbers and Treasury seal appear in dark green, indicating the standardized color adopted for Federal Reserve Notes beginning with the 1929 series. To the left of Hamilton’s portrait is the black seal of the issuing Federal Reserve Bank, in this case marked with the letter “A” for Boston, and to the right is the green Treasury seal. The note also includes the signatures of the Treasurer of the United States and the Secretary of the Treasury, along with a distinctive line identifying it as issued by the “Federal Reserve Bank of Boston, Massachusetts.”
The reverse of the note carries a classically styled image of the U.S. Treasury Building, a design element carried over from earlier large-size notes. Rendered in deep green ink, the engraving depicts the Treasury Building from a frontal angle with meticulous architectural detail. Above the building is the phrase “THE UNITED STATES OF AMERICA,” and below it is the denomination spelled out and presented numerically in each corner. The design of the back remained consistent throughout the small-size Federal Reserve Note series, reflecting the Mint’s effort to create a recognizable and secure national currency. The uniform green back design gave rise to the nickname “greenback,” widely used to describe U.S. paper money.
All 1929 Federal Reserve Notes, including this Boston example, were printed by the Bureau of Engraving and Printing on standardized paper stock with identical dimensions (6.14 x 2.61 inches). Each of the 12 Federal Reserve Banks issued their own notes, identified by a unique letter and district number. The Boston district is designated by the letter “A” and the district number “1,” and these are found on the note both in the black seal and in serial number prefixes. The 1929 $10 Boston notes were printed in large quantities initially, but few were saved in collectible condition, particularly in higher denominations and better grades. They circulated heavily during the 1930s, a time when most Americans used paper money for daily transactions rather than storing them as collectibles.
In Fine to Very Fine condition, a 1929 $10 Boston Federal Reserve Note shows moderate but honest circulation wear. In Fine (F) grade, the note will typically have several creases, edge wear, and rounded corners, but will remain fully intact with all design elements legible. The paper may feel soft from handling but is not severely damaged. In Very Fine (VF) grade, the note will be slightly crisper, with less pronounced creases and better retention of color and print contrast. The portrait of Hamilton, the Treasury Building on the reverse, and all text should remain clear and undisturbed. There may be light soiling, corner folds, or minor edge tears, but the overall structure remains solid and attractive for a circulated note. Collectors appreciate F-VF examples for their affordability and historical authenticity, as they offer a tangible connection to the economic conditions of the 1930s.
These notes are valued for their combination of historical significance, artistic design, and early placement in the evolution of modern U.S. currency. The 1929 series introduced the now-familiar format of small-size currency and was used to replace older National Bank Notes and large-size Federal Reserve Notes. The Boston district notes are especially sought after by collectors assembling district sets, where one note from each of the 12 Reserve Banks is collected. Though Boston notes are not especially rare compared to certain other districts or star notes, they retain strong collector interest, particularly when well preserved or accompanied by interesting serial numbers or markings.
In the context of the 1929 series, $10 was one of the most widely used denominations, and as such, many of these notes circulated for years before being withdrawn. Surviving examples in grades above Very Fine are increasingly hard to find, making a strong F-VF specimen an attractive and accessible option. Certified examples from PCGS or PMG are often favored in the collector marketplace, but uncertified notes in solid condition can still fetch strong interest, especially if they are problem-free and exhibit even wear without tears, graffiti, or staining. For those collecting district sets or studying the early development of Federal Reserve currency, the 1929 Boston note is a foundational and educational piece.
In summary, the 1929 $10 Federal Reserve Note from Boston, Massachusetts in Fine to Very Fine condition is a well-preserved relic from an era of significant change in U.S. monetary history. With its standardized format, green ink, and bold portraits and engravings, the note bridges the traditions of earlier banknote design with the modern era of American paper currency. Collectors value its place as one of the first small-size issues, its connection to the Great Depression, and its issuance by one of the original 12 Federal Reserve Banks. As such, this Boston note offers a valuable and historically rich addition to any collection of early 20th-century U.S. currency.