The letter O is not used because of its similarity to the digit 0, and the letter Z is not used because it is reserved for test printings. At the time of a series change, the suffix letter returns to the letter A and repeats the cycle.
2 DOLLAR BILL SERIAL NUMBER SEARCH SERIAL NUMBERS
The last letter advances through the alphabet when all eight character serial numbers have been printed for a specific Federal Reserve Bank within the same series. Each note of the same denomination has its own serial number.
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