1914 $20 Kansas City District Federal Reserve Note Fr. 1000 PCGS Choice UNC 64

Authorized by the Federal Reserve Act of December 23, 1913. Although both were issued under the same act, “FRNs” Federal Reserve Notes differ from their “FRBNs” Federal Reserve Bank Notes counterparts, as “FRNs” were backed by the government proper not the individual issuing banks, like “FRBNs”. This is an outstanding example with none grading finer at PCGS Banknote and only 4 finer at PMG.