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Currency Appraisal and Old Paper Money Dealer

Federal Reserve Bank Notes Series 1915

The first issued Federal Reserve Bank notes the BEP only issued in three denominations. $5, $10 and $20.
The goal with this series was to phase out the system of National Currency that started in 1863.
The problem with national currency was that the supply was fixed and inelastic.
In order to allow monetary expansion the fed would redeem national currency from a bank
and issue Federal Reserve bank notes instead. The money was backed by the same bonds but the fed could
issue more currency at will by issuing more of it's own bonds. The plan didn't work and take up was slight.
Because of this, series 1915 notes are scarce especially in $10 and $20 denominations.
These notes were issued in five federal districts. Chicago, Dallas, Atlanta San Francisco and Kansas City.
San Francisco is the scarcest over all because they only issued $5.00's.

1915 $5.00 Federal Reserve Bank Note. 1915 $5.00 Federal Reserve Bank Note
It's surprising to me that the $5.00 is less common than the $10.00 for the series.
While it's not the most common note from 1915 it's the least regarded based on price.
A nice mid grade example can be had for three to four hundred.
A full range of values for this note would be from $150 to $1500.
The scarcest districts are Dallas and San Francisco.

1915 $10.00 Federal Reserve Bank Note. 1915 $10.00 Federal Reserve Bank Note
With over 250 notes known to exist this is the most common note from the 1915 series.
Only four districts issued these notes. Atlanta, Chicago, Dallas and Kansas City.
Atlanta is by far the scarcest with less than 10 examples known.
An estimate of value on this note can fall in the range of $300 to $2500.

1915 $20.00 Federal Reserve Bank Note. 1915 $10.00 Federal Reserve Bank Note
The toughest note from Series 1915 with barely over 150 known from all four issuing districts.
Atlanta again proves the most scarce with just over 10 examples known.
These notes are pricey when they show up and a mid grade example can cost four figures.
A full range of values for this note would look something like $1000 to $25000.