1928: To lower manufacturing costs, the first $50 small-sized Federal Reserve note is 30% smaller than the large-sized notes of prior years. Its design is also standardized with the other denominations.
October1997: A major new design is introduced to further deter counterfeits. It includes an enlarged and off-center portrait, an enlarged and updated view of the U.S. Capitol on the back, a security thread which glows yellow under ultraviolet light, a numeric "50" which shifts color from black to green when tilted, and a watermark. For those with vision limitations, it includes a large dark "50" on a light background on the reverse of the note.
2004: A new design is introduced, with the first use of multiple colors since 1905. Behind the portrait of Ulysses Grant appears a subtle stylized blue and red background image of the flag. A small metallic silver_blue star is to the lower right of the portrait. It still includes a security thread, and a color_shifting numeric "50", though it now shifts from copper to green. The new design retains the enlarged portrait of Grant, though the oval borders surrounding both the portrait on the obverse and the Capitol on the reverse have been removed. The new design also seems to have the "EURion constellation" on the back.
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