A humble $20 bill from nearly a century ago, tucked away in a dusty wallet, suddenly transforms into a collector’s holy grail, selling for a jaw-dropping $670,000 at auction. This isn’t just any old cash—it’s the 1928 $20 Gold Certificate, a dazzling piece of American history that’s got collectors buzzing and wallets dreaming. Let’s dive into why this note is worth more than a luxury car and what makes it a glittering star in the world of numismatics.
The Allure of the 1928 $20 Gold Certificate
A Snapshot of a Bygone Era
In 1928, the U.S. was riding the wave of the Roaring Twenties, and the $20 Gold Certificate was a symbol of a time when paper money promised gold in return. These notes, with their vibrant golden seal and serial numbers, were more than currency—they were a guarantee of “IN GOLD COIN PAYABLE TO THE BEARER ON DEMAND.” Featuring President Andrew Jackson’s stern portrait, the note’s intricate engravings and bold gold overprint scream craftsmanship that modern bills can only dream of.
Why So Rare?
The 1928 series marked the final hurrah for small-size gold certificates. Then came 1933, when President Franklin D. Roosevelt’s Executive Order 6102 flipped the script. Gold ownership was banned, and most certificates were recalled and destroyed to stabilize the economy during the Great Depression. Only a handful survived, especially in pristine condition, making them rarer than a unicorn at a rodeo. This particular $670,000 note? It’s a “star note,” a replacement for misprinted bills, produced in tiny quantities and coveted for its scarcity.
What Drove the Sky-High Price?
Pristine Perfection
This 1928 $20 Gold Certificate wasn’t just any survivor—it was a superstar. Graded by Paper Money Guaranty (PMG) as Superb Gem Uncirculated 67 EPQ (Exceptional Paper Quality), it’s among the finest examples known. No folds, no smudges, just crisp paper, sharp corners, and vibrant ink that looks like it was printed yesterday. Its golden seal and serial numbers pop against Jackson’s portrait, making it a visual masterpiece.
The Star Note Factor
Star notes are the rockstars of currency collecting. Marked with a star in the serial number, they’re printed to replace defective notes, meaning far fewer exist. Combine that with uncirculated condition, and you’ve got a recipe for a bidding war. Collectors and investors, hungry for tangible pieces of history, pushed the price to $670,000—a record for a small-denomination U.S. note.
A Piece of Art and History
Design That Dazzles
The 1928 $20 Gold Certificate isn’t just money; it’s art. The front boasts Andrew Jackson in a finely engraved portrait, framed by a golden Treasury seal and serial numbers that scream exclusivity. The reverse features intricate green engravings with a bold “20” at the center, a nod to the era’s meticulous craftsmanship. It’s a snapshot of a time when money was backed by gold, not just trust.
A Window to America’s Past
This note tells a story of economic upheaval. Issued during the twilight of gold-backed currency, it was phased out as the U.S. shifted to fiat money. Its survival through the 1933 gold recall makes it a tangible link to a pivotal moment in American financial history. Owning one is like holding a piece of the Great Depression’s legacy.
Could Your Wallet Hold a Fortune?
Not every 1928 $20 Gold Certificate is worth six figures, but the potential is there. A lightly circulated note might fetch $75, while an uncirculated one starts at $500 and climbs with condition and rarity. Check your grandma’s attic or that old cigar box—your pocket change could be a goldmine!
| Condition | Estimated Value |
|---|---|
| Lightly Circulated | ~$75 |
| Uncirculated | $500+ |
| Superb Gem (PMG 67) | Up to $670,000 |
Conclusion: A Golden Legacy
The $670,000 sale of the 1928 $20 Gold Certificate isn’t just a headline—it’s a testament to the enduring allure of rare currency. This note, once a simple $20 bill, now stands as a symbol of America’s financial evolution, blending beauty, rarity, and history. As collectors continue to chase these treasures, the 1928 Gold Certificate reminds us that sometimes, the past is worth its weight in gold. So, next time you find an old bill, take a closer look—you might just be holding a fortune.
FAQs
What is a 1928 $20 Gold Certificate?
It’s a U.S. paper currency note from 1928, redeemable for gold coin until 1933, featuring a gold seal and Andrew Jackson’s portrait.
Why is it so valuable?
Its rarity, due to the 1933 gold recall, plus its star note status and pristine condition, drives its value sky-high.
How can I tell if my bill is valuable?
Check for a gold seal, star in the serial number, and uncirculated condition. Professional grading by PMG or PCGS can confirm its worth.
Where can I sell a rare note?
Auction houses, reputable dealers like APMEX, or platforms like eBay are good options, but always verify authenticity first.