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It's "all about" the Federal Reserve District for which the bill was printed and distributed. K (11) refers to the Dallas district.

You did notice that all bills have letters, right? There are 12 districts and each has a number and letter associated with it. All U.S. bills are only printed in Washington and Fort Worth, but with in separate batches for the district that will be responsible for distributing them to the commercial banking system.

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Q: What is a one dollar bill with a K on the front all about?
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