1928 $20 Gold Certificate Note Fine

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The First-Ever Small-Sized $20 Gold Certificate

In 1928, the United States government issued a new series of Gold Certificates. These notes were the new smaller size we all now carry in our pockets. And, if you look closely, you’ll see that they are very similar to the notes we used to carry before the recent redesigns.

This $20 note, for example, features the same portrait we see of President Andrew Jackson that appears on today’s $20 bills. The reverse has the same green color as later notes and features an intricate engraving of the White House. But here’s where they differ. While the back of today’s $20 bill shows a view of the White House from the North Lawn, the 1928 Gold Certificate shows an intricate engraving of the White from the South Lawn. More importantly, the front of the note shows an eye-catching seal and serial number printed in gold. At the bottom center, the notes proclaim that the face amount is “In gold coin payable to the bearer on demand.”

These 1928 Gold Certificates circulated right alongside the better-known Federal Reserve Notes only until 1933. Everything changed that year after President Franklin D. Roosevelt pressed for passage of the Gold Reserve Act, causing the Federal Reserve to transfer its stash of gold certificates and bullion to the Treasury. Most of these notes were gathered up and destroyed, making them difficult to find in any quantity today. Fortunately, a small number of notes escaped the conflagration of the federally mandated bonfire.

These small-sized notes are much scarcer than their large-sized 1907 and 1922 cousins. Here’s your chance to own a collectible right out of U.S. gold history – each in nice Fine (F) condition. Stake your claim before it’s too late; secure one or more for your collection before we burn through our supply.

Year of Issue 1928
Country United States
Composition Currency
Condition Circulated
Grade F
Denomination 20.00
Currency Type Dollar