PostgreSQL 8.0.1 Documentation
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DROP SEQUENCE

Name

DROP SEQUENCE -- remove a sequence

DROP SEQUENCE name [, ...] [ CASCADE | RESTRICT ]

DROP SEQUENCE removes sequence number generators.

name: The name (optionally schema-qualified) of a sequence.
CASCADE: Automatically drop objects that depend on the sequence.
RESTRICT: Refuse to drop the sequence if any objects depend on it. This is the default.

To remove the sequence serial:

DROP SEQUENCE serial;

DROP SEQUENCE conforms with SQL:2003, except that the standard only allows one sequence to be dropped per command.