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The 1934A $10 STAR Federal Reserve Note in Very Good (VG) condition is a notable piece of American numismatic history, representing both the transitional monetary policies of the post-Great Depression era and the rarer replacement note category designated by a star at the end of the serial number. Issued by the Federal Reserve during a time of economic rebuilding and currency stabilization, this note served as part of the backbone of U.S. commerce and finance in the 1930s and early 1940s. Its STAR designation marks it as a replacement for a defective note removed during production—a process that adds considerable collectible value due to lower print quantities.
At first glance, the obverse of the 1934A $10 STAR note presents a classic layout centered around a stately portrait of Alexander Hamilton, the nation’s first Secretary of the Treasury and chief architect of the U.S. financial system. Hamilton’s engraved likeness faces left and is surrounded by rich intaglio detailing. The inscription “THE UNITED STATES OF AMERICA” spans the top of the note, while “TEN DOLLARS” appears boldly at the bottom. A green U.S. Treasury seal is prominently displayed to the right of Hamilton’s portrait, while the corresponding district seal—black in color—sits to the left, identifying the specific Federal Reserve Bank of issue.
The STAR feature of this note is found at the end of the serial number, replacing the traditional alphabetical suffix. This small but significant star symbol denotes that the note is a replacement, printed to substitute for a note found to be defective during the production process. Because these replacement notes were produced in smaller batches, STAR notes are inherently scarcer than their regular counterparts. For collectors, the presence of a star immediately increases a note’s desirability, especially when matched with specific Federal Reserve districts known for low replacement print runs.
The green serial numbers, which flank the portrait on the upper right and lower left of the obverse, confirm the note's identity as a Federal Reserve Note rather than a National Bank Note or Silver Certificate. Above the portrait is the standard promise: “This note is legal tender for all debts, public and private,” reaffirming its function as everyday currency. The printed signatures on most 1934A $10 STAR notes are those of Treasurer of the United States W.A. Julian and Secretary of the Treasury Henry Morgenthau Jr., key figures in President Franklin D. Roosevelt’s administration during the New Deal era.
The reverse of the note showcases an intricately engraved image of the U.S. Treasury Building in Washington, D.C. Viewed from the southeast angle, the building’s neoclassical façade, fluted columns, and well-defined steps are rendered in exquisite detail. Above the central vignette is the text “THE UNITED STATES OF AMERICA,” while “TEN DOLLARS” is clearly inscribed along the lower edge. In each corner appears the denomination “10,” reinforcing the note’s value for easy public recognition. This reverse design remained consistent across multiple series of the $10 Federal Reserve Note throughout the early 20th century.
The note was printed on a high-quality cotton-linen blend paper, embedded with red and blue fibers for added security—a hallmark of mid-20th century U.S. currency. Unlike modern notes, the 1934A series lacks a security thread or watermark, but the intaglio printing provides a raised, tactile texture that is difficult to replicate. The deep inks used in both the portrait and seals give the note its distinctive appearance and are highly resistant to fading, contributing to the note’s longevity even after decades of circulation.
In terms of condition, a grade of Very Good (VG) indicates that the note has seen extensive circulation. It typically displays multiple folds, rounded corners, minor soiling, and possible small edge tears or pinholes. Despite this wear, all critical design features—including the portrait, serial numbers, seals, and inscriptions—remain legible. A VG note still maintains collector interest, especially for scarcer STAR issues, and provides an affordable entry point into Depression-era paper money for new collectors or those building comprehensive series sets.
Production of the 1934A $10 Federal Reserve Notes occurred at the Bureau of Engraving and Printing in Washington, D.C., and they were issued by the twelve regional Federal Reserve Banks. Each note’s issuing district is denoted by both the black seal on the left side of the face and by the prefix letter of the serial number (e.g., A for Boston, B for New York, etc.). Some districts—such as Dallas (K) or Minneapolis (I)—issued fewer STAR notes, increasing their scarcity and elevating the premiums they command on the collector market.
The 1934A $10 STAR note holds historical importance beyond its rarity. Issued in the midst of major fiscal reforms, it reflects a period of substantial federal intervention in banking and currency systems. It circulated during the years following the abandonment of the gold standard in 1933 and was part of a broader effort to reinforce public trust in paper money. By the time the 1934A series was released, the U.S. Treasury had effectively centralized monetary authority, and Federal Reserve Notes were becoming the predominant form of circulating currency, replacing earlier forms such as National Bank Notes and Gold Certificates.
Collectors of Federal Reserve STAR notes often specialize in building complete sets by denomination, district, or even series. The 1934A $10 STAR occupies a vital place in such collections due to its historical context and the transitional role it played in the development of the modern U.S. monetary system. Even in lower circulated grades like VG, these notes are increasingly difficult to find, especially with fully legible details and no major damage. When accompanied by provenance or grading certification, VG STAR notes can still fetch notable attention at currency shows or online auctions.
In conclusion, the 1934A $10 STAR Federal Reserve Note in Very Good condition stands as a compelling piece of numismatic and historical significance. Its status as a replacement note, its issuance during a transformative period in U.S. economic policy, and its link to Depression-era currency reform all contribute to its enduring collector appeal. Despite the evident signs of wear, this note offers an affordable and meaningful entry point into the rich world of early 20th-century American paper currency and remains a valued addition to any historical or STAR note-focused collection.