Why Did U.S. Banknotes Shrink in Size?

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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.

Find out more: https://www.pcgs.com/news/why-did-united-states-banknotes-shrink-in-size

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Steve_in_Tampa

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.

asheland

@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!

SaorAlba

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.

BLUEJAYWAY

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

Serial_no_8

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

Goldminers

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

Rhodl

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.

synchr

What did they call the note "a Horseblanket"?

Steve_in_Tampa

@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.

derryb

Wallets got smaller

Steve_in_Tampa

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

synchr

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_Tampa

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. ...