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The 1993 $50 Federal Reserve Note graded Gem Uncirculated 66EPQ by PMG is an exceptionally well-preserved and visually striking example of late 20th-century American paper currency. Issued just before the major design and security overhauls of the mid-1990s, this note represents the final iteration of the traditional “greenback” style $50 bill—featuring classical symmetry, rich intaglio engraving, and no modern security enhancements such as color-shifting ink or security threads. With a PMG grade of 66 and the coveted Exceptional Paper Quality (EPQ) designation, this note is among the finest known for its series, making it a standout addition to any high-grade U.S. currency collection.
The Series 1993 $50 Federal Reserve Notes were issued with the signature pairing of Mary Ellen Withrow as Treasurer of the United States and Lloyd Bentsen as Secretary of the Treasury. Bentsen, a former Senator from Texas and Secretary under President Bill Clinton, served during a time of economic growth and fiscal reform. The 1993 notes were printed just before the redesigns that introduced enhanced anti-counterfeiting features beginning with the 1996 series. As such, this issue marks the end of the classical small-size currency design that had been in use—with only modest revisions—since 1928.
The obverse features an elegantly engraved portrait of Ulysses S. Grant, the 18th President of the United States and commanding general during the Civil War. Set in a neoclassical oval, Grant’s image is flanked by the black Federal Reserve District seal on the left and the green U.S. Treasury seal on the right. Serial numbers, printed in deep green, are located in the upper right and lower left. The bold heading “FEDERAL RESERVE NOTE” spans the top of the note, while the denomination is clearly displayed at all four corners. In 66EPQ condition, the ink appears rich and uniform, with sharp impression lines and perfectly balanced margins—characteristics that signify precision in both printing and preservation.
The reverse of the note showcases the east façade of the United States Capitol in Washington, D.C. This intricate engraving highlights architectural symmetry, with carefully rendered columns, landscaping, and sky. Above the vignette is “THE UNITED STATES OF AMERICA,” while “FIFTY DOLLARS” anchors the lower border. Large numeral “50s” appear at each corner, and the engraving quality remains exceptionally high. In this certified grade, all details are cleanly struck, the green coloration is vivid and unblemished, and the layout retains the formal elegance of classic American currency design.
PMG’s Gem Uncirculated 66EPQ grade denotes a note that is not only uncirculated but exceptionally well-centered, crisp, and vibrant. The “66” grade is reserved for notes with perfect or near-perfect margins, excellent registration, and no distracting flaws. The EPQ designation—Exceptional Paper Quality—further certifies that the note has not been altered, cleaned, or pressed. It retains its original paper wave, embossing, and surface texture, providing collectors with confidence in the note’s authenticity and preservation. These combined designations place this note well within the top few percent of surviving 1993 $50 notes.
The $50 denomination was widely used in both banking and commercial transactions throughout the late 20th century, and the vast majority of these notes entered general circulation. Very few were preserved in uncirculated condition, and fewer still have been certified in Gem grades with EPQ. Most surviving examples exhibit signs of wear, folds, or surface compromise due to their use in day-to-day transactions. For this reason, a PMG 66EPQ example stands out as a particularly scarce and desirable find, suitable for both advanced collectors and high-grade type note enthusiasts.
The 1993 series was printed for all 12 Federal Reserve Districts, each identifiable by its corresponding district letter and number within the black seal. Some districts, especially those with lower print runs or less common serial number combinations, are pursued by specialized collectors. However, at the 66EPQ level, the overall condition becomes the dominant factor in the note’s desirability, regardless of district—especially given the short printing period of the 1993 series before the redesigned 1996 notes began appearing in circulation.
Historically, the 1993 $50 note circulated during a time of relative economic calm and fiscal transition. It is part of the final generation of currency printed without embedded security features such as watermarks, security threads, microprinting, or color-shifting ink—hallmarks of post-1996 notes. As such, the 1993 $50 note is the last of the old-style, pre-enhancement Federal Reserve Notes, making it an important end-of-era collectible. It reflects a cleaner, more restrained design philosophy before the U.S. currency landscape evolved for the digital age.
Collectors prize this note for its sharp visual balance, strong engraving quality, and historical placement. In Gem 66EPQ condition, it is especially well-suited for type sets, denomination runs, or thematic collections focused on late-20th-century currency. It also makes an ideal candidate for those seeking the best condition examples of every major U.S. Federal Reserve Note design before the arrival of the colorized and security-enhanced series that would soon follow. Its visual and structural perfection, combined with its transitional historical significance, make it an especially rewarding piece to own.
The Certified 1993 $50 Federal Reserve Note graded Gem Uncirculated 66EPQ by PMG is an elite example of a short-lived and increasingly difficult-to-find series. With its flawless presentation, vibrant detail, and full originality, it captures the last moment of America’s traditional currency design in its highest form. Whether collected for investment, display, or appreciation of fine banknote engraving, it stands as a premier piece from the twilight of the pre-modern U.S. paper money era.