Last Updated on April 13, 2022 by Mark P.
It may look like a regular twenty-dollar bill, but this particular bill from 1928 represents a kind of currency we do not have anymore. The 1928 $20 gold certificate is a rare bill that is not in circulation anymore. It’s a collector’s item sold online and can be priced fairly high.
With Andrew Jackson on it and some gold lettering, there are subtle differences that make the bill stand out from the regular $20 bill. Let’s learn a bit about this bill, and why it’s a hot item to collect.
Where to Buy a 1928 Twenty Dollar Gold Certificate
These bills are easily found all over eBay. There are filters to select grade levels and whether or not they have been circulated. All of the buyers have photographs of the gold certificate, and some sell them in physical shops you can go to.
See 1928 $20 Gold Certificates for Sale
See 1928 $20 Gold Certificates for Sale
History of the 1928 Twenty Dollar Gold Certificate
In 1863, these bills started circulating in varying amounts. They were place holders for people who owned gold, so they didn’t have to lug it around to use as currency. It’s a certificate for gold owners to show off all that gold they have. The notes are smaller than other American currencies, and are the same size of the bills we have today.
These $20 gold certificates only circulated until 1933, when the Federal Reserve Act was instated by President Franklin D. Roosevelt. There was a federal mandate to burn the bills, making them very hard to come by today.
The backs of the notes are the color we have on them today, and on the front with a gold stamp and gold ID numbers along with Andrew Jackson on them. For a currency collector, this is definitely something to get your hands on.
How Much does a $20 Gold Certificate Cost?
Well, it depends on a few things. The bills were only in circulation for a few years, so the ones that have been handled are still in good shape. However, they do have wear and tear which brings down the cost. If you don’t want to break the bank, try to find one that was passed around. A $20 gold certificate that has been circulated with creases can go for around $140 on eBay. This depends entirely on condition. Some can be listed as low as $60 if they are really beat up.
On the other hand, there are the mint condition notes. These babies go for a pretty penny. Uncirculated $20 gold certificates can run you about $1000 on eBay. There is also a grading system involved that can affect prices, as well. Another thing to look at are the serial numbers. If the number is below 100, it’s probably worth more. There are also a few bills that have stars in the serial numbers, also making them worth a bit more.
Grading and Authentication
Counterfeit money has always been an issue, and with collector’s items there are unfortunately people out there who will try to scam you. There is a grading and authentication process that sellers can use to get values for the bills to gain trust of their buyers. Grading is when they assess the quality of the bank note, and usually preserve it in a sealed bag so it cannot be tampered with.
Letter grades are given to notes based on condition, so it’s good to pay attention to the grades since photographs can sometimes be deceiving. A PO grade code is the lowest, and the $20 gold certificate is probably very tattered. A grade of F is when a note is in fine condition, and practically mint. These will cost more money than a note with a lot of wear and tear.
Why a $20 Gold Certificate From 1928?
The 1928 $20 gold certificate was the only one made in the smaller size and was circulated for a very short amount of time. It is much easier to get your hands on than the older versions from 1863 and on, so it’s a more affordable way to add to your collection.
Since they were only circulating for such a short amount of time, getting your hands on one that never floated around would be a great collector’s item. This is a bill that will never be made again, so it’s definitely worth adding a $20 Gold Certificate from 1928 to the collection.