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Why Did U.S. Banknotes Shrink in Size?

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in U.S. & World Currency Forum

Modern circulating United States Federal Reserve Notes are about 30% smaller than they were before 1929, when the nation’s banknotes shrank in size from a standard 7.38 by 3.13 inches to the current 6.14 by 2.61 inches.

The last of the large-size notes were issued under Series 1923 and were replaced on July 10, 1929. The changes were made to the nation’s various circulating bill across the board, including Silver Certificates, Gold Certificates, United States Notes, National Bank Notes, Federal Reserve Bank Notes, and Federal Reserve Notes.

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Comments

  • ashelandasheland Posts: 23,189 ✭✭✭✭✭

    @mbwizkid said:
    Cool. These paper handouts were distributed by banks and other financial institutions to educate the public about the change and the new uniformity in our currency. It was the exact size as the new currency and listed the portraits found per denomination.


    That's really cool! :)

    My YouTube Channel

  • SaorAlbaSaorAlba Posts: 7,540 ✭✭✭✭✭

    One thing not mentioned in the article is that the new banknote size was based on the BEP printed notes for the Philippines that had been issued as early as ca. 1908.

    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
  • BLUEJAYWAYBLUEJAYWAY Posts: 9,108 ✭✭✭✭✭

    And I always thought it was because of smaller pockets and wallets.:)

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • Serial_no_8Serial_no_8 Posts: 455 ✭✭✭

    It's interesting that they were reduced just before the big stock market crashes in the fall of that year.

    **https://sites.google.com/view/notaphilycculture/collecting-banknotes **

  • GoldminersGoldminers Posts: 3,984 ✭✭✭✭✭

    Is there a PCGS currency registry. I can't find it very easy. It would be great to see a lot of these notes in sets
    Thanks

    My US Mint Commemorative Medal Set

  • RhodlRhodl Posts: 64 ✭

    They are getting smaller because it allows the fed to print more per year, per stimulus, or whenever they need to. Plus it saves them money on energy, paper, and ink. The USD is not worth even the paper and ink being used to print them out of thin air.

  • synchrsynchr Posts: 1,401 ✭✭✭✭

    What did they call the note "a Horseblanket"?

  • Steve_in_TampaSteve_in_Tampa Posts: 1,959 ✭✭✭✭✭

    @synchr said:
    What did they call the note "a Horseblanket"?

    Because comparatively speaking, the large-size notes looked big, like blankets you put on a horses back before the saddle.

  • derrybderryb Posts: 36,818 ✭✭✭✭✭

    Wallets got smaller

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • Steve_in_TampaSteve_in_Tampa Posts: 1,959 ✭✭✭✭✭

    Wallet’s became smaller to accommodate the new sized paper money...not the other way around.

  • synchrsynchr Posts: 1,401 ✭✭✭✭

    But only silver Certs are Horsey Blanket, right?
    I'm actually not a big Large Size collector so apologies on the terminology questions

  • Steve_in_TampaSteve_in_Tampa Posts: 1,959 ✭✭✭✭✭

    This quote is what I believe... Nickname: Horse blanket is a term that is normally used to describe any large size note because they were so big they could be used to cover the back of a horse. ...

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