PMG Featured Note: $1 1928E Silver Certificate Fr#1605 (FB Block)
The first issue of small-size Silver Certificates were dated Series 1928. Notes of this design are affectionately referred to as “funny backs” by collectors because of the back’s plain design which resembles play money. The Series 1928E is the scarcest of all the funny backs and considered the key to the series. The example shown is the finest 1928E $1 Silver Certificate graded by PMG — the only 68 EPQ yet certified.
The main purpose of the small-size notes, about 25% smaller than previous issues, was to reduce production costs. In addition, all of the notes were redesigned in a uniform style and introduced color-coded seals and serial numbers for each type. The Silver Certificates have the blue Treasury seal on the left and the denomination spelled out on the right. Washington, D.C. is inscribed at the bottom on the right, between the base of the central portrait of George Washington and the Secretary’s signature. As with the other denominations, the back of the note is printed in green.