One Dollar “Red Seal”
$1.00 · Series 1928 · Reverse “Funny Back”
Historical Context: A Numismatic Rarity Out of Its Time
TheUnited States Notes(also calledLegal Tender Notesor “greenbacks”) were notes issued directly by the Treasury since the Civil War, without gold or silver backing, identifiable by their red ink seal. The $1 bill from the 1928 series is, however, a unique case: it was the only year in which a small-sized $1 bill with a red seal was issued in the entire history of this denomination.
Its history does not follow a conventional chronology: although dated “Series of 1928”, it was not actually printed until 1933, under the signatures of Treasurer W. O. Woods and Secretary of the Treasury William H. Woodin, whose terms overlapped only from March to May of that year. More unusually still, these notes were not placed in circulation until 1948, twenty years after their printed date, and were distributed specifically inPuerto Ricoto facilitate their classification in the withdrawal process.
Their national print run —documented at 1,872,012 examples— makes them considerably scarcer than their contemporary $2 and $5 red-seal counterparts. Printing details appear later.
Color Scheme
Obverse:main print in black ink on white paper, with the Treasury seal and serial numbers in striking red ink.
Reverse:printed in green ink, with an atypical and asymmetrical design nicknamed by collectors “funny back” (“funny reverse”), very different from the usual symmetrical backs of this denomination.
Portrait and Obverse Images
- Center:oval portrait ofGeorge Washington, first president of the United States.
- Left:United States Treasury seal in red ink, together with the legal-tender clause.
- Right:the word “ONE” in large grayish letters, along with the serial number in red.
Reverse Images
The characteristic design “funny back”: the word “ONE” occupies almost the entire width of the bill in a thick, geometric typeface, superimposed on an asymmetrical ornamental frame —a design that breaks with the traditional symmetry of American bills of the era.
Legal Course Clause
“THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE” (this note is legal tender for all debts, public and private), the distinctive clause of theUnited States Notessince the Civil War.
Signatures
- W. O. Woods— Treasurer of the United States (Treasurer of the United States), on the left.
- William H. Woodin— Secretary of the Treasury (Secretary of the Treasury), on the right.
Print Run: $1 Red Seal “Funny Back”, Series 1928
They were printed in total1.872.012banknotes.
| Denomination | $1 |
|---|---|
| Series | 1928 |
| Type | United States Note / Legal Tender Note |
| Friedberg Number | Fr. 1500 |
| Seal and numbering | Red seals |
| Regular Series Block | A–A |
| Total printed | 1,872,012 banknotes |
| Total face value | $1.872.012 |
The Greysheet catalog identifies theLegal Tender Noteof $1, Series 1928, Fr. 1500, with an imprint of 1,872,012. That total matches the range of regular series documented by USPaperMoney.info (A 000 00001 A — A 018 72012 A).
Although the note says “Series of 1928”, it was produced in 1933, during the brief period when W. O. Woods and William H. Woodin were Treasury officials. According to BEP records, deliveries to the Treasury of this series were concentrated in April and May 1933.
Unlike the1934 $10 Federal Reserve Notes, these were not distributed among the twelve Federal Reserve Banks. The $1 red stamp is aUnited States Noteissued by the Treasury, so there is a single national printing total and not a breakdown from Boston to San Francisco.
This figure corresponds specifically to the banknote with red seal and numbering. The 1928 Silver Certificates with blue seals and a similar “Funny Back” reverse are a separate and much more common issue.
Legacy for Collectors
Being a single-year issue, delayed two decades before its circulation and distributed through a means as unconventional as Puerto Rico, the $1 “red stamp” from 1928 is today one of the most sought-after pieces by collectors ofUnited States Notessmall in size, prized both for its relative rarity and the curious story behind its serial date.
Sources
- CDN Greysheet — price/identification catalog for Fr. 1500 (Series 1928 $1 Legal Tender), with a circulation of 1,872,012:greysheet.com (new window)(opens in a new tab)
- USPaperMoney.info — Series 1928 $1 USN: BEP deliveries from April–May 1933 and range A 000 00001 A — A 018 72012 A:uspapermoney.info (new window)(opens in a new tab)
- Numista — 1 Dollar, United States Note; Red Seal (Fr. 1500), circulation 1,872,012:numista.com (new window)(opens in a new tab)
- Friedberg, Arthur L. & Ira S.Paper Money of the United States.
- Bureau of Engraving and Printing —bep.gov (new window)(opens in a new tab)
- Heritage Auctions —ha.com (new window)(opens in a new tab)