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 Replies: 11 / Views: 2,130 |
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Pillar of the Community
United States
4691 Posts |
Very scarce 1928 star note. Some may say rare. Very few were made and they were not saved. The Great Depression hit and the few of these still in circulation remained there. These 1928 notes have a redeemable in gold clause, although they are not gold certificates. So before the gold standard was revoked, this note could have been redeemed in gold at the time. Hence, a lot of reasons 1928 star notes are just very hard to find. Twenty bucks was a lot of money during the Great Depression. I've had this for a long time and have not yet sent it in for grading. Thanks for looking.   Edited by jimbucks
10/13/2014 10:58 pm
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Pillar of the Community
United States
4409 Posts |
I'd bet that quite a few of these notes were also turned in for redemption when FDR issued Executive Order 6102.
Thanks for sharing this Jim.
-MV
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Pillar of the Community
United States
7614 Posts |
That is a tough, tough note with a very short print run. You could search high and low at major show and not find any 28 star FRN 20$'s anywhere on the floor. Heck, 1928 yellow seal gold certificate stars are easier to find than some of the 1928 $20 FRN stars!
Grade-wise I'd say it's probably around F-15.
Nice!
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Pillar of the Community
United States
2850 Posts |
I have a thing for 1928 FRNs. I have a bigger thing for 1928 FRN stars. Nice!  |
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Pillar of the Community
United States
1358 Posts |
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Pillar of the Community
978 Posts |
westernsky really? I just searched ebau and found 13 of them.
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Bedrock of the Community
 United States
12815 Posts |
Super cool note and a great history lesson. Thanks for sharing. I too searched ebay and saw a number of these 1928 FRN $20 Star notes for sale, though I didn't see any from Kansas City. Still pretty darn cool. |
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Pillar of the Community
United States
1748 Posts |
Just think, a few of those would have bought you a Model A Ford in 1928. A decent Model A was about $500.
Twenty dollars in 1928 was also .9675 oz of gold.
Times certainly do change.
Edited by DoubleEagle20
11/15/2014 8:07 pm
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Pillar of the Community
United States
7614 Posts |
"J" 28 star $20 is very tough. You see them from the larger Chicago and New York districts but not from the smaller districts like KC and Dallas.
All are underrated and undervalued in my opinion.
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Pillar of the Community
United States
1116 Posts |
Jimbucks I find it interesting about what you say about the $20 1928 note being redeemable in gold. I was wondering if the same could be said about a $10 1929 note issued by the FRB Cleveland?
Thanks.
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Pillar of the Community
 United States
4691 Posts |
ghostrider, no the 1929 notes did not have a redeemable in gold clause. As a sidenote, although the 1928 FRNs had a redeemable in gold clause, they were legal to own and circulate, whereas the 1928 gold certificates were later illegal to own as of December 1933 (along with all gold certificates). The restriction on owning gold certificates was lifted in 1964.
Edited by jimbucks
11/16/2014 4:19 pm
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Pillar of the Community
 United States
5029 Posts |
Great looking note... nice to see one that you are not likely to see elsewhere...
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Replies: 11 / Views: 2,130 |
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Posted 10/14/2014 01:53 am
