1928 $20 Bill - Probably Not, But Going To Ask Anyways

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Author	Replies: 7 / Views: 1,633
catskillcoin New Member United States 33 Posts	Posted 06/05/2020 11:06 am So, the Teller at the bank showed me this $20 bill and I bought it.. It's not in the best of condition, but curious, can somebody still send this bill to the Treasury for gold? Report this Post to the Staff

hfjacinto Pillar of the Community United States 7276 Posts	Posted 06/05/2020 11:16 am No, all gold redemption stopped in 1934. While the below is for gold certificates, the law still applies to the 1928 note. " A 1934 federal law ordered all of these certificates taken out of circulation; the law allows the certificates to be swapped for currency but prohibits the government from exchanging them for gold. According to the Treasury Department, you can bring certificates to a Treasury office or any bank and exchange them for modern currency of the same face value. In other words, if you have a $10 gold certificate, you could turn it in and get $10 worth of "regular" money." My Slabbed Dansco 7070 with Gold Page My Slabbed IHC Set My Slabbed 20th Century Type Set Edited by hfjacinto 06/05/2020 11:18 am Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 06/05/2020 11:27 am Your Series 1928 note is from the first issue of the (then) new small-size Federal Reserve Notes, in this case from the Cleveland district. While the premium is not huge, it is certainly worth well over face value. Edited by Coinfrog 06/05/2020 11:28 am Report this Post to the Staff
catskillcoin New Member United States 33 Posts	Posted 06/05/2020 11:59 am Thanks for the info coinfrog, I hadn't done much research on it yet, but that info is good news. Report this Post to the Staff
SteveInTampa Pillar of the Community United States 4637 Posts	Posted 06/05/2020 12:26 pm If you could get gold,...let's see, at $54 per gram, you'd get about 1/3rd of a gram. Report this Post to the Staff
jbuck Moderator United States 188122 Posts	Posted 06/05/2020 1:33 pm Quote: While the premium is not huge, it is certainly worth well over face value. That being said, very nice! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 06/05/2020 1:46 pm Apologies - I was valuing this as a 1928-A Cleveland, which is a fairly tough note. For the 1928 issue as shown, if you wanted to buy it at a coin shop, you would pay a premium but not much. Edited by Coinfrog 06/05/2020 2:19 pm Report this Post to the Staff
suipakpaikungfu Pillar of the Community United States 992 Posts	Posted 06/07/2020 6:16 pm Still worth $20!! Report this Post to the Staff
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