Product Description:
MetalStacks proudly presents an exceptional and historically significant piece of American currency with this Series 1928 $1 United States Note — affectionately known to collectors as the "Funnyback" — featuring the iconic red Treasury seal and signatures of Walter O. Woods (Treasurer of the United States) and Andrew W. Mellon (Secretary of the Treasury). This note represents the very first $1 United States Note ever issued in the modern small-size format, marking a pivotal moment in American monetary history when the Bureau of Engraving and Printing transitioned from the older large-size currency to the compact dimensions still used today.
(PSV 35)
The Series 1928 $1 United States Note is a rare and standalone issue — the only series of $1 United States Notes (Legal Tender Notes) ever produced in the small-size format. Unlike its Silver Certificate and Federal Reserve Note counterparts, the $1 denomination was never again issued as a red-seal United States Note after 1928, making this single series a closed and finite chapter in U.S. currency history. The note features the bold red Treasury seal and red serial numbers that immediately distinguish it as a Legal Tender Note rather than a Silver Certificate or Federal Reserve Note — a critical visual identifier for collectors and a defining mark of its Treasury-direct issuance.
This particular example is housed in a protective rigid currency holder and elegantly presented within a handsome wood display frame with a black matted backdrop, transforming it into a finished showcase piece ready for immediate display. The note exhibits natural signs of age and circulation consistent with its nearly century-old vintage, including subtle toning, paper texture variations, and minor staining that enhance its authenticity and historical character. Only one note is available, and it bears a unique serial number, making this a truly one-of-one collectible offering.
Note Information
- Series: 1928
- Denomination: $1
- Type: United States Note (Legal Tender Note) — "Funnyback"
- Seal Color: Red Treasury Seal
- Serial Number: A01746645A
- Signatures: Walter O. Woods (Treasurer) / Andrew W. Mellon (Secretary of the Treasury)
- Grade: Circulated
- Issuer: United States of America (Direct Treasury Issue)
- Paper Type: Government-issued cotton/linen blend
- Legal Tender Clause: "This Note Is a Legal Tender at Its Face Value for All Debts Public and Private Except Duties on Imports and Interest on the Public Debt"
- Distinction: Only $1 United States Note ever issued in small-size format
- Presentation: Rigid currency holder mounted within a wood display frame
- Availability: One (1) note only
Design Details
Obverse: Features the centered engraved portrait of George Washington, framed by ornate scrollwork — a design that would later become standard across all small-size $1 notes. The bold red Treasury seal appears on the left side of the portrait, with matching red serial numbers (A01746645A) flanking the central design. The inscription "UNITED STATES NOTE" appears prominently across the top, distinguishing this note from Silver Certificates and Federal Reserve Notes. The legal tender clause appears to the left of Washington's portrait: "THIS NOTE IS A LEGAL TENDER AT ITS FACE VALUE FOR ALL DEBTS PUBLIC AND PRIVATE EXCEPT DUTIES ON IMPORTS AND INTEREST ON THE PUBLIC DEBT." The "SERIES OF 1928" designation appears beneath Washington's portrait, alongside the signature of Secretary Andrew W. Mellon — one of the most influential Treasury Secretaries in American history. Treasurer Walter O. Woods's signature appears at the lower left.
Reverse: Displays the unique design that gives this note its famous nickname — the "Funnyback". The reverse features an elaborate, intricate ornamental layout with a large central "ONE DOLLAR" lettered across the middle, framed by complex green scrollwork, lathework, and decorative flourishes. Bold "1" numerals appear at all four corners, with "THE UNITED STATES OF AMERICA" arched across the top and "ONE DOLLAR" repeated at the bottom corners. This distinctive busy, ornate reverse design — markedly different from the familiar Great Seal layout introduced in 1935 — is why collectors affectionately dubbed these notes "Funnybacks." The Funnyback reverse was used only on Series 1928 $1 notes (both Silver Certificates and this United States Note), making it one of the most visually distinctive designs in 20th-century U.S. currency.
Historical Significance
The Series 1928 $1 United States Note holds multiple distinctions that make it one of the most significant $1 notes in American numismatic history:
First Small-Size $1 Note Ever Issued: In 1928, the United States transitioned from large-size currency (often called "horse blankets" due to their size) to the small-size format we use today. The Series 1928 $1 notes — including this United States Note — were the very first $1 bills produced in the new compact dimensions, marking a foundational moment in modern American currency design.
The Only Small-Size $1 United States Note: Unlike Silver Certificates (which were issued in $1 denomination from 1928 through 1957) and Federal Reserve Notes (issued from 1963 to present), the $1 United States Note was only ever issued in the Series of 1928 in small-size format. No subsequent series of $1 Legal Tender Notes were ever produced — making this a singular, closed-issue category of U.S. currency.
The "Funnyback" Reverse: The elaborate ornamental reverse design that earned these notes their nickname was used exclusively on Series 1928 $1 notes. By 1935, the reverse was redesigned to feature the Great Seal of the United States — the design familiar today. This makes Funnyback reverses a one-series-only design feature highly prized by collectors.
Mellon-Era Treasury History: Secretary Andrew W. Mellon, whose signature appears on this note, served as Treasury Secretary from 1921 to 1932 under three presidents (Harding, Coolidge, and Hoover) — one of the longest tenures in the office's history. Mellon was a pivotal figure in American economic policy during the Roaring Twenties and the early years of the Great Depression, making notes bearing his signature historically meaningful far beyond their numismatic value.
United States Notes (also called Legal Tender Notes) represent a distinct class of U.S. currency, issued directly by the U.S. Treasury rather than through the Federal Reserve System, with a history dating back to the Civil War. They are identified by their distinctive red Treasury seal and red serial numbers, in contrast to the green seals of Federal Reserve Notes. Production of United States Notes was officially discontinued in 1971, making every surviving example a finite artifact of a closed chapter in American monetary policy.
Presentation
This nearly century-old note is securely housed in a protective rigid currency holder and elegantly mounted within a wood display frame with a black matted background, ready for immediate display on a desk, shelf, mantel, or wall. The framed setup protects the fragile vintage paper while allowing full visibility of its design, vibrant red seal, serial number, and signatures. As with all MetalStacks offerings, the note has been carefully handled and verified for authenticity.
Because only one example is available, the exact note shown — including its distinct serial number, individual condition, and authentic Funnyback reverse — is the note you will receive.
For additional details or collector inquiries, please contact MetalStacks at (561) 529-3001.