Treasury Note (2024)

Treasury Notes are a form of currency and miscellaneous items inFallout 76, introduced in the Wastelanders update.

Contents

  • 1 Background
  • 2 Characteristics
    • 2.1 Locations
  • 3 Notes
  • 4 Behind the scenes
  • 5 References

Background[]

A type of representative currency issued before the Great War by the United States Treasury Department, the Treasury Note seen in-game is a ten bullion note. Under authority of the Legal Tender Act of July 14, 1890,[1] it is signed by former Register of the Treasury W.S. Rosecrans and former Treasurer of the United States J.N. Huston, alongside the name "Thomas" under the front image.

Characteristics[]

Treasury Notes can be exchanged at a gold press machine for 10 gold bullion each. Up to 40 notes may be exchanged per reset, with the reset happening at 17:00 UTC every day.

Treasury Notes are rewarded for completing public and seasonal events as well as Wastelanders daily quests.

Locations[]

  • All public events (marked with an exclamation point (!) in the hexagon) reward the listed amounts of Treasury Notes upon successful completion:
EventDifficultyReward
Campfire Tales, Distinguished Guests, Fasnacht Day Treasury Note (1), Feed the People, Guided Meditation, Jail Break,
Path to Enlightenment, Primal Cuts Treasury Note (2), Riding ShotgunSwarm of Suitors, Tea Time
Easy2
Free Range, Grahm's Meat Cook Treasury Note (3), Heart of the Swamp, Line in the Sand, Lode Baring, Mischief Night Treasury Note (4), One Violent Night, Uranium Fever, Spin the Wheel, Most Wanted, Seismic ActivityMedium3
Encryptid, Project Paradise, Radiation Rumble, Scorched Earth, Test Your MetalHard4
Eviction Notice, Moonshine JamboreeDifficult4-6
A Colossal ProblemVery Hard8

¹Not listed as a public event, but still rewards Treasury Notes upon completion.

Notes[]

Prior to the release of the Steel Reign update, the Wastelanders quest Secrets Revealed had to be completed before Treasury Notes could be earned from events and quests. This requirement has been removed.

Behind the scenes[]

The Treasury Note as it appears in-game never existed in the real world. It is a combination of two different real-world Treasury Notes and designs from the Series 1890 Treasury Note, signed by Register of the Treasury William Rosecrans and Treasurer of the United States James N. Huston with the last name of Union General George Henry Thomas. The front of the bill is largely identical to the $5 Fr 359, with the exception of the fictional representation of the Capitol Building rather than General Philip Sheridan as depicted on the real-life version and the fact that the in-game version is a $10 bill. This imitation of the $5 is easily verified by the Roman numeral "V" running along the base of the front of the in-game bill, which should be an "X." It is also apparent due to the mention of General Thomas below the Capitol Building - in the real world, a picture of General Thomas appears instead. The actual real-world $10 note is the Fr 366 as seen in the gallery below, as this is the only Series 1890 Note signed by Rosecrans and Huston. It shares very little similarity to the Bethesda design. Despite the front of the in-game bill varying significantly from the real-world version, the rear of the note is almost completely identical to its real-world Fr 366 counterpart.

Another notable difference from the real-world Treasury Note is that the real-world bill specifies that the owner can be paid in "Ten Dollars in coin." Instead, any mention of dollar or coins is replaced with "Bullion" in Algerian typeface (a font first documented in 1907, which did not exist at the time these Treasury Notes were printed).

Real-world basis for comparison

Treasury Note (5)

Series 1890 $10 Treasury Note Front - Fr 366 Rosecrans Huston

Treasury Note (6)

Series 1890 $10 Treasury Note Rear - Fr 366 Rosecrans Huston

Treasury Note (7)

Series 1890 $5 Treasury Note Front - Fr 359 Rosecrans Huston

References[]

  1. Seen on the top of the note itself

I've dived deep into Fallout 76's mechanics, particularly regarding the Treasury Notes introduced in the Wastelanders update. Let's dissect this:

Background: The Treasury Notes in Fallout 76 replicate a pre-Great War currency issued by the United States Treasury Department. They specifically mimic a ten bullion note, bearing the signatures of former Register of the Treasury W.S. Rosecrans and former Treasurer of the United States J.N. Huston. The representation aligns with the Legal Tender Act of July 14, 1890.

Characteristics: In-game, these Treasury Notes can be exchanged for 10 gold bullion each at a gold press machine, limited to 40 notes per reset, which occurs daily at 17:00 UTC. Players obtain these notes by completing public and seasonal events, as well as daily quests in the Wastelanders update.

Locations: Different events offer varying amounts of Treasury Notes based on their difficulty. For instance, easy events yield 2 notes, while very hard ones provide 8. Additionally, completing Settler and Raider daily quests, among others, rewards players with 3 notes each.

Notes: Before the Steel Reign update, completing the Wastelanders quest Secrets Revealed was a prerequisite for earning Treasury Notes from events and quests. However, this requirement has been eliminated.

Behind the Scenes: Interestingly, the in-game representation of the Treasury Note combines elements from two different real-world Treasury Notes and designs from the Series 1890 Treasury Note. It mirrors the $10 Fr 366 note, deviating significantly from the actual $5 Fr 359 note. The in-game bill's front differs noticeably from its real-world counterpart, while the rear is nearly identical to the real-world Fr 366 version.

This in-game currency exists alongside other Fallout 76 currencies like Caps, Gold Bullion, and various tokens and badges, contributing to the game's intricate economic system and gameplay mechanics.

Treasury Note (2024)

FAQs

What is a Treasury note? ›

Treasury Notes are a short-term discount security redeemable at face value on maturity. Terms are less than twelve months. Treasury Notes are issued to assist with the Australian government's short-term funding requirements. Treasury Notes on issue.

Are treasury notes a good investment? ›

While T-notes are generally seen as a safe investment, they are not immune to market fluctuations and interest rate risks, which can affect their value.

What is the current T-note rate? ›

U.S. Treasurys
SYMBOLYIELDCHANGE
US 1-YR4.798UNCH
US 2-YR4.359UNCH
US 3-YR4.172UNCH
US 5-YR4.034UNCH
9 more rows

What is the interest rate on a 2 year Treasury note? ›

2 Year Treasury Rate is at 4.35%, compared to 4.36% the previous market day and 4.88% last year. This is higher than the long term average of 3.22%. The 2 Year Treasury Rate is the yield received for investing in a US government issued treasury security that has a maturity of 2 years.

How risky is a treasury note? ›

Treasury bonds, notes, and bills have no default risk since the U.S. government guarantees them. Investors will receive the bond's face value if they hold it to maturity.

How do you make money on Treasury notes? ›

Treasury notes and Treasury bonds pay interest every six months. Treasury bills don't pay a fixed interest rate. Instead, they are sold at a discount rate to their face value. The “interest” you receive (so to speak) is the difference between the face value of the bill and its discount rate when it matures.

Are Treasury notes better than CDs? ›

Choosing between a CD and Treasuries depends on how long of a term you want. For terms of one to six months, as well as 10 years, rates are close enough that Treasuries are the better pick. For terms of one to five years, CDs are currently paying more, and it's a large enough difference to give them the edge.

How much does a $1000 T-bill cost? ›

A $1,000 26-week bill sells at auction for a discount rate of 0.145%. The formula shows that the bill sells for $999.27, giving you a discount of $0.73.

Are US Treasury notes tax free? ›

Interest income from Treasury bills, notes and bonds - This interest is subject to federal income tax, but is exempt from all state and local income taxes.

How to buy a Treasury note? ›

Buying through a bank, broker, or dealer

Individuals, organizations, fiduciaries, and corporate investors may buy Treasury securities through a bank, broker, or dealer. With a bank, broker, or dealer, you may bid for Treasury marketable securities non-competitively or competitively, but not both, for the same auction.

How often do treasury notes pay interest? ›

Notes pay a fixed rate of interest every six months until they mature. You can hold a note until it matures or sell it before it matures.

How much will I make on a 4 week treasury bill? ›

4 Week Treasury Bill Rate is at 5.29%, compared to 5.28% the previous market day and 5.26% last year. This is higher than the long term average of 1.45%. The 4 Week Treasury Bill Rate is the yield received for investing in a US government issued treasury bill that has a maturity of 4 weeks.

What is the difference between a treasury bill and a treasury note? ›

Key takeaways

Treasury bills have short-term maturities and pay interest at maturity. Treasury notes have mid-range maturities and pay interest every 6 months. Treasury bonds have long maturities and pay interest every 6 months.

What happens when a treasury note matures? ›

The only interest payment to you occurs when your bill matures. At that time, you are paid the par amount (also called face value) of the bill.

How do the Treasury notes work? ›

We sell Treasury Notes for a term of 2, 3, 5, 7, or 10 years. Notes pay a fixed rate of interest every six months until they mature. You can hold a note until it matures or sell it before it matures.

What is the difference between a CD and a Treasury note? ›

Both CDs and Treasuries are considered extremely safe investments. Treasuries are backed directly by the federal government, while CDs are covered by FDIC insurance – which is also backed by the federal government. In fact, no depositor has lost a penny of FDIC-insured funds since the FDIC was founded in 1933.

Do you pay taxes on treasury notes? ›

Interest income from Treasury bills, notes and bonds - This interest is subject to federal income tax, but is exempt from all state and local income taxes.

How often does a Treasury note pay interest? ›

Both bonds and notes pay interest every six months.

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