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The 1969A $100 Federal Reserve Note graded Choice Uncirculated 64 by PMG is an excellent example of high-denomination U.S. paper currency issued during a pivotal era in American economic history. Produced near the end of the Bretton Woods system and amid growing domestic inflation, this note reflects the final phase of the classic Federal Reserve Note design prior to the introduction of modern security features. The MS64 grade confirms that the note is fully uncirculated, with vibrant printing, strong visual appeal, and only the most minor flaws keeping it just shy of the Gem level. It remains a desirable acquisition for collectors seeking a well-preserved and historically significant $100 note from the early fiat currency era.
The Series 1969A was part of a broader family of 1969-dated Federal Reserve Notes, which began following the currency redesign of the late 1950s and included several signature changes and printing variations throughout the early 1970s. The 1969A $100 note bears the signature combination of Dorothy Andrews Elston as Treasurer of the United States and David M. Kennedy as Secretary of the Treasury. This pairing situates the note firmly in the early years of the Nixon administration, a period marked by escalating inflation, rising deficit spending, and mounting pressures on the U.S. dollar’s gold convertibility—pressures that would ultimately culminate in President Nixon's 1971 suspension of the gold standard for international settlements.
The obverse of the note features a finely engraved portrait of Benjamin Franklin, one of the most prominent American Founding Fathers, celebrated for his roles in science, diplomacy, and government. Franklin’s dignified visage is framed in a classic oval design, surrounded by formal border ornamentation. To the left of the portrait is the black seal of the issuing Federal Reserve Bank, while the green U.S. Treasury seal appears to the right. The serial numbers are printed in green and are located in the upper right and lower left corners. In MS64 condition, all of these elements remain fully intact, with no signs of circulation, crisp edges, and strong ink contrast throughout the design.
The reverse of the note displays the iconic engraving of Independence Hall in Philadelphia, where both the Declaration of Independence and the U.S. Constitution were debated and adopted. The building is rendered in exquisite detail, with clean lines highlighting its windows, tower, and architectural symmetry. The background includes trees and lightly stylized clouds, all framed by the inscriptions “THE UNITED STATES OF AMERICA” above and “ONE HUNDRED DOLLARS” below. Large corner numerals provide visual balance. The reverse, like the front, exhibits strong color and bold linework in this grade, with no smudging or print defects.
PMG’s Choice Uncirculated 64 grade denotes a note that is fully uncirculated with no folds or creases, but which may show minor imperfections—such as slightly uneven centering or a soft corner—that prevent it from reaching the Gem Uncirculated (65) tier. The absence of an EPQ (Exceptional Paper Quality) designation suggests the note may have slightly subdued embossing or brightness, though it still retains full structural integrity and original ink. Many 64-graded notes without EPQ still maintain excellent eye appeal, making them attractive alternatives to higher-graded examples at a more accessible price point.
The 1969A $100 note was printed for all twelve Federal Reserve Districts, each distinguished by a unique black seal and serial number prefix. While all districts are collectible, some have lower surviving populations in high grades, adding variety and challenge for collectors seeking complete district sets. Due to their face value, $100 notes were used primarily in commercial and banking transactions, which means that very few were saved in pristine condition. As such, any uncirculated example—particularly one graded MS64—is a notable survivor from a series that saw heavy everyday use.
Historically, this note circulated during a period of major transformation in the U.S. and global financial systems. The decade following the issuance of the 1969A series would witness the collapse of the Bretton Woods system, the delinking of the dollar from gold, and the rise of inflationary pressures that challenged monetary policy through the 1970s. In this context, the 1969A $100 note marks the last full series of traditional, large-denomination Federal Reserve Notes before modern redesigns and security features were introduced, making it a significant marker of the end of an era in American currency.
The $100 denomination has always carried prestige and importance, not only as the largest denomination still issued today but also as a key symbol of financial trust and stability. Franklin’s portrait adds further gravitas, connecting American monetary credibility to Enlightenment ideals and scientific advancement. The symmetry, restrained color scheme, and refined engraving found on this note represent the height of classical U.S. currency design before the 1990s ushered in color-shifting ink, microprinting, and security threads.
For collectors, an MS64 example of the 1969A $100 note offers strong visual appeal and historical relevance. It fits well in a type set of high-denomination Federal Reserve Notes or as part of a full run of 1969-series issues. It also serves as a key piece in collections exploring Nixon-era monetary policy, Cold War economics, or the evolution of American fiat currency. While Gem Uncirculated and EPQ examples may command premium pricing, a 64-graded note delivers near-Gem quality at a more attractive value, especially when original surfaces and crisp detail are still present.
The Certified 1969A $100 Federal Reserve Note graded MS64 by PMG is a sharp, high-quality artifact from a defining moment in U.S. economic history. With its bold engraving, formal design, and high purchasing power, it reflects the enduring symbolism of American currency and its role during a time of profound global monetary transition. For collectors seeking classic notes with strong visual appeal and compelling historical context, this example provides both numismatic satisfaction and investment-grade preservation.