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The 1974 $100 Federal Reserve Note graded Gem Uncirculated 65EPQ by PMG is an outstanding example of high-denomination U.S. currency issued in the aftermath of the Nixon Shock, during a time of growing inflation and sweeping changes to the global monetary system. As part of the long-running small-size note design, this series is one of the last to retain the traditional green-and-black color scheme and pre-security design format that had remained largely unchanged since 1928. With full original paper, vibrant engraving, and crisp detail, the 65EPQ grade places this note firmly in the gem-level tier, making it a premium choice for collectors of 20th-century Federal Reserve Notes.
The Series 1974 $100 note was issued with the signature combination of Treasurer Francine I. Neff and Treasury Secretary William E. Simon. These signatures mark the note’s printing window during the mid-1970s, a time of substantial economic adjustment in the United States. Following the suspension of the dollar’s convertibility to gold in 1971, the U.S. had fully embraced a floating fiat currency system. The note reflects this modern monetary policy with its simplified legal tender statement: “This note is legal tender for all debts, public and private.” It contains no reference to gold, silver, or redemption, confirming its place in the post–Bretton Woods fiat regime.
The obverse design features a masterfully engraved portrait of Benjamin Franklin, one of the most admired American Founding Fathers. His likeness faces right in a classic oval frame, surrounded by stylized linework and secure border detailing. To Franklin’s left is the black Federal Reserve District seal, and to his right is the green U.S. Treasury seal. Serial numbers are printed in dark green ink and appear in the upper right and lower left corners. In 65EPQ condition, these design elements are perfectly intact, with full color saturation, sharp line quality, and ideal centering—meeting the visual and structural standards of the gem uncirculated tier.
The reverse of the note features the east façade of Independence Hall in Philadelphia, depicted in a finely detailed engraved vignette. Architectural elements like windows, the clock tower, trees, and sky are rendered in classic style, with balanced proportions and strong linework. Above the vignette is the inscription “THE UNITED STATES OF AMERICA,” while “ONE HUNDRED DOLLARS” spans the lower edge. Large corner numerals frame the reverse. In this grade, the printing is bold and even, with no signs of wear, fading, or handling, preserving the strength and symmetry of this traditional currency design.
PMG’s Gem Uncirculated 65EPQ designation signifies a note with superb eye appeal, full original paper integrity, and no signs of circulation. A 65 note is allowed only the most minimal deviations in centering or corner sharpness while maintaining complete structural and visual excellence. The EPQ label—Exceptional Paper Quality—is especially important, as it certifies that the note has not been cleaned, pressed, trimmed, or altered in any way. It retains its natural embossing, paper wave, and brightness—traits that elevate it above many uncertified or lower-tier uncirculated examples.
Although Series 1974 $100 notes were printed in large numbers, few were saved in pristine condition, as they were intended for use in high-value commercial and banking transactions. The face value alone meant that most of these notes were quickly absorbed into circulation, and many surviving examples show signs of use. Certified Gem Uncirculated notes with EPQ designation are relatively scarce and highly collectible, particularly for those interested in the last purely traditional issues before the anti-counterfeiting redesigns of the 1990s began with the Series 1996 $100.
This note was issued at a time of significant economic change in the United States. The early 1970s witnessed the end of the Bretton Woods system, high inflation, and the onset of energy crises that challenged domestic monetary policy. Despite these pressures, the $100 note remained a trusted instrument of commerce and international finance. It played a critical role in large business payments, banking transfers, and currency reserves—both domestically and abroad. In this way, the Series 1974 $100 note is both a monetary tool and a historical document of American financial resilience during turbulent times.
Collectors value this series for its bold design, classic layout, and role as the last of the non-enhanced Federal Reserve Notes. The use of Benjamin Franklin on the front and Independence Hall on the reverse ties the note to foundational themes in American history—freedom, innovation, and institutional trust. These design elements would carry through to later redesigns, but the Series 1974 note represents the final iteration before major alterations in color, security printing, and layout began to reshape U.S. currency in the 1990s and 2000s.
High-grade examples like this one are ideal for collectors assembling a denomination type set, a complete Federal Reserve District series, or a focused collection of post-gold-standard currency. The combination of top-grade condition and historical importance also makes the note appealing for display, research, or long-term investment. As the population of certified 65EPQ notes continues to thin due to collector demand, examples like this are increasingly recognized for their premium quality and enduring value.
The Certified 1974 $100 Federal Reserve Note graded Gem Uncirculated 65EPQ by PMG is an exceptional piece of modern U.S. currency. With flawless preservation, vivid engraving, and deep ties to a crucial era in monetary history, it offers collectors a powerful blend of artistry, rarity, and significance. Whether acquired for investment, educational purposes, or the sheer appreciation of fine paper money, this note stands as a high-grade testament to American economic evolution and design excellence.