Funnyback
A Funnyback is a type of one dollar silver certificate produced in 1928 in the United States. The note marked the introduction of small-size bank notes in the United States. People referred to the note a "Funnyback" based on the significantly lighter green ink and unusual font printed on the reverse.
Description
[edit]The Funnyback dollar measured 6.14 in (156 mm) by 2.61 in (66 mm) characterized by a blue treasury seal on the front. The reverse was devoid of symbolism or mention of the government and collectors dubbed the currency "Funnyback".[1] The obverse carries the portrait of the first American president, George Washington. Serial numbers are found to the left and right of the portrait. Also on the obverse the series is found, 1928, or 1934. In the lower fields on the obverse the signatures of the Treasurer of the United States and the United States Secretary of the Treasury.[2] Under the portrait of George Washington the bill stated that the paper was redeemable for "one silver dollar".[3] People called the note the Funnyback based on the dramatically lighter green ink used on the reverse and unusual large font which was used for the word ONE in the center of the design.[2]
History
[edit]
Planning and designing for the new small size note was completed by October of 1927.[4] The purpose of the redesign was to make the money harder to counterfeit and make the bills smaller so they would be easier to handle.[5] Released in 1928 the note was the first small-note and it was introduced to mirror other contemporary treasury paper money.[3] Initially some people refused to accept the new smaller notes because they were mot sure that they were real money.[6] Prior to the introduction of the Funnyback the United States currency was of the large-note variety often referred to as "Horse Blanket". The small-size 1928 $1 Legal Tender Note was 25% smaller and featured a new typeface.[7] In July of 1929 the BEP issued less than two million Funnybacks of the red-seal variety. The blue-seal variety were issued after July of 1929 and had a blue-seal.[3] The Funnyback was in use from 1928-1935.[7]
The dollar was issued with a red seal or a blue seal. Some Funnybacks have a serial number that begins with x, y or z and all were in the B-block printing. The x, y or z indicates experimental paper; the BEP was experimenting with different types of linen, cotton and paper combinations. The first experimental notes were printed in 1932 for 1933 circulation.[8] The 1928 red-seal Funnybacks are signed by W. O. Woods and W.H. Woodin and they were printed in April and May of 1933 for distribution. A total of 1,864,000 red seal Funnybacks were released in Puerto Rico 1948 and 1949 in response to the Recession of 1949.[8] In total the BEP printed more than 640 million Funnybacks.[2]
In 2021 one blue-seal example of a Funnyback sold for US$7,593.75. The example had a unique serial number cotaining all fives (U55555555A).[2]
Reception
[edit]When the note began circulating former BEP director Louis A. Hill said the bill was, "the poorest, confessedly the cheapest, and without doubt, the most dangerous issue of United States currency in history". In 1930 George H. Blake said the currency “…has had some severe criticism, as well as commendation. Only the future can tell whether this radical change in our paper money will be a success.”[7]
References
[edit]- ^ Miller, Zoë (17 October 2018). "How the dollar has changed over the years". Business Insider. Retrieved 10 September 2024.
- ^ a b c d "Solid 5: Unique Silver Certificate Sells for $7,600 at GreatCollections". CoinWeek: Rare Coin, Currency, and Bullion News for Collectors. 19 April 2022. Retrieved 10 September 2024.
- ^ a b c Judkins, Maggie; Brandimore, William (4 October 2016). Standard Catalog of United States Paper Money. China: Penguin. pp. 131–132. ISBN 978-1-4402-4708-8. Retrieved 10 September 2024.
- ^ "New. Smaller Size Dollar Bills to reach Public by October, 1928". Washington Evening Star. 17 October 1927. Retrieved 10 September 2024.
- ^ Colfax, Harden (7 July 1929). "Simplification Keynote of New Paper Money". NewspaperArchive.com. Retrieved 10 September 2024.
- ^ "Won't Accept New Currency". Ironwood Daily Globe. 11 July 1929. Retrieved 10 September 2024.
- ^ a b c P, Helen (10 September 2019). "How Funnyback Notes Earned Their Name". Littleton Coin Blog. Littleton Coin Company, Inc. Retrieved 10 September 2024.
- ^ a b Schwartz, John; Lindquist, Scott (4 October 2011). Standard Guide to Small-Size U.S. Paper Money. United Kingdom: Penguin. pp. 1–6. ISBN 978-1-4402-1723-4. Retrieved 10 September 2024.
