Friedberg 1014a. 1914 Red Seal $50 Federal Reserve Note. Philadelphia. PMG Choice Uncirculated 64. Serial Number 1. This is a phenomenal Federal Reserve Note trophy note. Just three serial number 1 $50 Red Seal FRNs are known to collectors. This example, with boldly printed serial number C1A comes from the Philadelphia district. The other two known are from Chicago and San Francisco. Just 15 examples are reported in the Track & Price census for the catalog number. Ulysses S. Grant is portrayed at center. A black Federal Reserve district seal is at left while a sharply detailed cherry red scalloped Treasury Seal is at right. The serial numbers are to the lower left and upper right of center. All 1914 Red Seal FRNs are found with the engraved signatures of Treasury officials Burke and McAdoo to the lower left and right of center. The vibrant green back design displays a wonderful allegorical depiction of the Panama Canal. PMG has graded just two examples of the catalog number finer though neither can approach the grand appeal of this incredible serial number 1 note. <em>From William A. Philpott; Kagins sale of September 1981, lot 2340; our (Stacks) sale of March 1991, lot 1931; Currency Auctions of Americas sale of January 2001, lot 1687; Heritage/Currency Auctions of Americas sale of January 2002, lot 2849; Lyn Knights sale of October 2004, lot 125.</em>
