Series of 1928 $20 Bill Value

Value of Twenty Dollar Bill from the Series of 1928

1928 $20 Federal Reserve notes in circulated condition are very common and typically worth around $35.  Truly uncirculated green seal series of 1928 twenty dollar bills can be worth $150 or more depending on the serial number and issuing district.  Uncirculated means that the note has never been folded and it looks brand new.

Series of 1928 twenty dollar green seals are sometimes called numeral notes.  This is because the black seal on the left hand side of the note contains a number (1 – 12) which represents the issuing Federal Reserve bank.  All twelve Federal Reserve banks printed series of 1928 $20 bills.

1928 twenty dollar bills were a little bit different because they were redeemable in gold.  They read “Redeemable In Gold On Demand At The United States Treasury, Or In Gold Or Lawful Money At Any Federal Reserve Bank.”  The above phrase is known as the gold clause.  This phrase does not make 1928 Federal Reserve notes also gold certificates.  Gold certificates have a gold colored seal and serial number and are worth more than green seal twenties.

You can also find “Federal Reserve Note The United States Of America Will Pay To The Bearer On Demand Twenty Dollars” printed on each note.  All series of 1928 $20 bills were signed by H.T. Tate as the Treasurer of The United States and by A.W. Mellon as the Secretary of the Treasury.

All series of 1928 Federal Reserve $20 notes were printed in Washington DC.  They feature a portrait of Andrew Jackson and have The White House on the back.  They have a green seal on the right and green serial numbers.  Remember that “In God We Trust” didn’t start until 1956.  Therefore no 1928 notes ever have that motto on them.

Two things are very important when looking at a series of 1928 twenty dollar bill.  Condition is extremely important.  The serial number on a series of 1928 twenty dollar bill can be the difference between $25 and hundreds of dollars.

Look for notes that have serial numbers that start with six or more zeros.  Serial numbers that end with a star symbol could be valuable.  $20 star notes from the series of 1928 typically start at about $50 and can go up quickly from there based on condition, district, and how low the number is.

We are very interested in purchasing uncirculated 1928 $20 bills.  We are especially interested in consecutive runs.  We purchase all series of 1928 twenty dollar star notes.  Send us an email ( to get our offer on what you have.