1969-B $1 U.S. Federal Reserve Star Notes // 12 District Set ABCDEFGHIJKL // Deluxe Collector's Pouch

This set contains one $1 note from each of the 12 federal reserve districts from Boston to San Francisco dated 1969. Each note is in crisp uncirculated condition and will be preserved in an archival currency sleeve and presented in a deluxe collector’s pouch.

Federal Reserve Notes (FRNs) are the only banknotes currently produced in the United States. They were first authorized by Section 16 of the Federal Reserve Act of 1913 and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The notes are then placed into circulation by the Banks, at which point they become liabilities of the Federal Reserve Banks and obligations of the United States. FRNs are legal tender and bear the obligation "this note is legal tender for all debts, public and private" printed on each note. They replaced United States Notes, which were once issued by the Treasury Department. FRNs are backed by the assets of the Federal Reserve Banks, which serve as collateral under Section 16. These assets are generally Treasury securities which have been purchased by the Federal Reserve through its Federal Open Market Committee in a process called debt monetizing.