Series Of 2001 $20 FRN New York Fr#2088-B Butterfly Fold Error Note PMG AU55
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This Series of 2001 $20 Federal Reserve Bank Note from New York, Fr#2088-B, features a unique Butterfly Fold Error, graded About Uncirculated 55 by PMG. The note showcases original white paper color with minor red staining and residual ink smearing, along with fair margins. This specific banknote is a part of the Federal Reserve Notes used in the United States and denominated in USD. A distinctive addition to any currency error collection, this note is a testament to the intricacies of banknote production and the variations that can occur in circulation.
Official legislation enacted by Congress known as the Federal Reserve Act of 1913 established the Federal Reserve System in addition to a centralized banking system. The first institution that acted as a central bank was the First Bank of the United States and was charted by Alexander Hamilton in 1791.
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