Fr. 2201-A. 1934 $500 Federal Reserve Note. Boston. PCGS Gem New 66 PPQ.;Locating well centered examples of these $500 Federal Reserve Notes can be challenging and fortunately for collectors this note fits the criteria. Pack fresh original paper is quickly identified with deep embossing, a trait not normally seen with these as well. Large even borders and precise detail of this powerful McKinley design.