Notable Notes Trivia Quiz

Answer: Demand Note

In the early days of paper money, government officials' salaries were paid in Demand Notes, in an attempt to build public confidence in this type of currency. The reverse side of the Demand Note was colored green, and gave way to the popular nickname "greenback", which is still commonly used today.

Answer: The National Bank Act

"The National Bank Act" was drafted under the heading of "The National Currency Act". The law stipulates that the comptroller of the newly created "Currency Bureau" be paid five thousand dollars, annually.

Answer: Monticello

Series 1963A features Thomas Jefferson's elaborate estate known as Monticello, while series 1976 features the signing, which is based on an engraved reduction of the painting by John Trumbull, entitled "The Signing of the Declaration of Independence".

Answer: $1, $2, $5, $10, $20, $50 and $100

Though not widely in circulation, the $2 note is still in production, while denominations exceeding $100 have not been in production since 1969. The Bureau of Engraving and Printing (BEP) states that the present circulation "satisfies the public at large", and does not plan to change the denominations in the future.

Answer: $100,000

The $100,000 Series 1934 Gold Certificate was the largest bill ever produced by the BEP. The notes were in production for less than a month, between December 1934 and January 1935. Since the notes were intended only for official transactions between Federal Reserve Banks, they were not circulated among the general public.

The $100,000 bill featured a portrait of Woodrow Wilson. Occasionally, $1,000,000 notes have surfaced, and some attempts have been made to cash them in. The BEP has never issued such a note, and therefore $1,000,000 notes are obviously counterfeit.

Answer: United States Note

United States Notes began circulating in 1862 as obligations of the U.S. Government, redeemable in gold. Due to limitations established by Congress, the total value of all United States Notes in circulation could not exceed $300 million. After the U.S. abandoned the gold standard in 1933, the United States Note served no function that was not already covered by the Federal Reserve Note (our dollar). Thusly, the United States Note was discontinued, and none have been circulated since 1971.

Answer: 1969

In 1969, denominations of $500, $1000, $5,000 and $10,000 were pulled from distribution. The large denominations were mainly used to facilitate bank transfer payments, and because of the advancements in technology, the physical representation of funds were no longer needed.

The notes remain legal tender to this day, although they are removed from circulation and destroyed as Federal Reserve Banks continue to receive them.

Answer: $10 (Prior to year 2000)

One might speculate that Henry Ford "paid a mint" to advertise on the ten dollar bill, but close inspection reveals that the four cars on the reverse side are not of any specific make, model or year, but rather an artist's rendering of the general style of automobiles that were being manufactured in the 1920's. The cars were removed when the new design was introduced in May, 2000.

Answer: Green

The Federal Reserve Note functions much like the earlier United States Note (with seal & serial colored red), but it is not subject to the same limitations as the U.S. Note. In addition, the Federal Reserve Note is an obligation of both the Federal Reserve System and the U.S. Government, and move into circulation through the Federal Reserve System, rather than directly into the population.

Answer: "A new order of the ages"

The two inscriptions surround the Great Seal of the United States, which depicts an incomplete pyramid with an "all-seeing" eye on the top. The pyramid represents strength, and the fact that it is unfinished means that the United States is always growing. The eye could be interpreted to be the watchful eye God, always guiding the American cause.