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The 1950E $10 Federal Reserve Note in About Uncirculated (AU) condition offers collectors a glimpse into mid-20th-century U.S. currency at the cusp of a design and policy transition. The "E" series is the sixth and final iteration of the 1950-design $10 note, released during a time when the U.S. economy was flourishing post–World War II and entering the early years of the Cold War. These notes circulated widely across the country and reflected a continuation of established currency designs dating back to the small-size note introductions of 1928. The 1950E $10 Federal Reserve Note is the last in its line before the 1963 series brought significant changes to note design, including the addition of the motto “In God We Trust.”
On the front, the note showcases the prominent portrait of Alexander Hamilton, the first Secretary of the Treasury and a founding father of the American financial system. Hamilton’s portrait, engraved with deep intaglio lines, faces left and is surrounded by intricate scrollwork and micro-patterns that not only enhance its visual appeal but also deter counterfeiting. Above Hamilton is the printed legend “THE UNITED STATES OF AMERICA,” while the denomination “TEN DOLLARS” appears boldly beneath. To Hamilton’s left sits the black seal of the issuing Federal Reserve Bank, accompanied by the identifying district letter and number, while the green U.S. Treasury seal is placed to his right, balanced by the green serial numbers flanking the portrait on either side.
Each note bears two serial numbers, printed in green ink—one at the upper right, the other at the lower left. The serial numbers begin with a prefix letter and end with a suffix letter, identifying their position in the printing cycle. Unlike STAR notes, which end with a star symbol to indicate a replacement issue, regular 1950E notes like this one use a letter suffix. Beneath Hamilton’s portrait appears the standard legal tender declaration: “This note is legal tender for all debts, public and private.” This reinforces the note’s authority as government-backed currency. The 1950E series carries the printed signatures of Elizabeth Rudel Smith as Treasurer of the United States and C. Douglas Dillon as Secretary of the Treasury, both of whom served in the early 1960s under President John F. Kennedy.
The reverse of the note retains the long-standing image of the U.S. Treasury Building in Washington, D.C., presented in a fine engraved depiction that emphasizes classical architectural features like the columned façade and formal landscaping. The image is framed by ornate border elements and flanked by the inscriptions “THE UNITED STATES OF AMERICA” at the top and “TEN DOLLARS” at the bottom. The denomination also appears in large numerals in each corner. This reverse design remained unchanged from the 1928 series until the note’s redesign in 1963, preserving a sense of aesthetic continuity across multiple generations of currency users.
The note was printed by the Bureau of Engraving and Printing (BEP) using high-quality cotton-linen blend paper with embedded red and blue security fibers. These fibers served as a rudimentary anti-counterfeiting measure prior to the introduction of advanced features like watermarks and security threads. The intaglio printing process gave the note a tactile quality, with raised ink textures present on key elements like the portrait, serial numbers, and seals. In About Uncirculated condition, most of these textural details remain sharply defined, though the note may exhibit a single light fold or faint handling marks that preclude a Mint State designation.
About Uncirculated (AU) notes are just one step below full Uncirculated (UNC) condition and are typically well preserved with crisp paper, sharp corners, and vivid inks. An AU note may display a faint center fold, light handling mark, or minimal paper waviness but lacks the heavier creasing, staining, or edge wear seen in circulated grades. For collectors, AU condition offers the opportunity to acquire a note with excellent eye appeal at a lower cost than a strict UNC example. The preservation of color, texture, and detail in AU notes makes them highly attractive for type sets and series runs, especially for those focused on 20th-century currency.
Each 1950E $10 note was issued by one of the twelve regional Federal Reserve Banks, identified by a unique letter and number code printed within the black district seal and at the beginning of the serial number. For instance, “B2” represents the Federal Reserve Bank of New York, while “K11” corresponds to Dallas. Some districts issued significantly fewer notes, making examples from those banks more difficult to find today in AU or better condition. While the majority of surviving 1950E $10 notes came from large districts like New York, Chicago, or San Francisco, lower-production banks are actively sought by specialized collectors.
The 1950E series was produced in relatively large quantities, but most were heavily used in circulation and later destroyed or redeemed. Few were retained in pristine or near-pristine condition. Notes from this series that survived in AU or better grades often came from hoards, uncirculated straps, or private bank holdings. Today, these notes represent the last chapter of the “classic” small-size design before Treasury notes underwent significant modernization and redesign. This transitional importance adds another layer of interest for collectors building representative collections of small-size U.S. paper money.
Many collectors choose to pursue the full run of 1950 series $10 notes—series 1950 through 1950E—making the 1950E a necessary final piece. Its significance lies not only in its position within the series timeline but also in its association with key historical figures and events. Elizabeth Rudel Smith was the last woman to serve as Treasurer until the mid-1970s, and C. Douglas Dillon oversaw Treasury policy during the early 1960s, a pivotal time of postwar monetary stability and growth. Their signatures help date the note precisely to a narrow period just before sweeping changes in note design and policy began with the 1963 series.
In conclusion, the 1950E $10 Federal Reserve Note in About Uncirculated condition is a well-preserved relic from a pivotal era in American currency history. Combining aesthetic refinement, sharp engraving, and transitional importance, it represents the final evolution of the 1928-1950 small-size note design tradition. With nearly flawless paper quality, bold colors, and only the most minimal signs of handling, this AU example offers collectors a desirable and accessible way to connect with the economic and historical legacy of early Cold War–era America. Whether as part of a type set, a series collection, or a focus on 20th-century monetary artifacts, the 1950E $10 note holds enduring appeal and historical value.