We are pleased to offer for sale this Twenty Dollar Gold Certificate Series 1928 US Currency. These $20 Gold Certificates are off-quality notes that may have some stains, tears, heavy folds or writing. These $20 Gold Certificates were redeemable for gold coins up until 1933. These notes are Series 1928. Each bill comes in a currency sleeve for protection. These $20 Gold Certificates will make a nice addition to any currency collection!
Information on these Gold Certificate Series 1928 Twenty Dollar Bills:
In 1929 all US Currency was changed to its current modern size. Series 1928 $20 Gold Certificates were the first small size $20 Gold Certificates issued (66,204,000 printed). The obverse features a cropped version of Andrew Jackson's portrait. The reverse of the bill features a south view of the White House. The series 1928 bill is unique because it shows the statement "IN GOLD COIN PAYABLE TO THE BEARER ON DEMAND". This series was the last time a redeemable in gold clause was featured on currency due to the U.S. withdrawing from the gold standard. On the 1934 Gold Certificate series (issued only to banks) "IN GOLD COIN" was replaced with "AS AUTHORIZED BY LAW".
What is a Gold Certificate?
Gold Certificates are United States Currency authorized by the Currency Act of March 3, 1863 and issued through 1934. Series 1934 was printed but never released to the public. They were released solely to banks. Only a few museum specimens of the 1934 series still exist. Gold Certificates were issued as small size bills starting with the series of 1928 and have distinguishing gold seals. They could be exchanged for gold coins but this changed on Dec. 28, 1933 when President Roosevelt issued Executive Order 6102 forbidding the holding of Gold Certificates (and gold coins) and in turn, ordered the banks to turn in all stocks of Gold Certificates. On April 24, 1964, Secretary of the Treasury C. Douglas Dillion removed the restrictions on acquiring or holding Gold Certificates. Gold Certificates have been issued in $10, $20, $50, $100, $500, $1,000, $5,000 and $10,000 denominations. There was also a $100,000 Gold Certificate printed for the series of 1934 featuring a portrait of Woodrow Wilson.
Small size Gold Certificates were printed and issued to the public only for the series of 1928. Series 1928 issued $10, $20, $50, $100, $500, $1,000, $5,000 and $10,000 denominations. There was a series 1928A $100 Gold Certificate printed but was later scheduled for destruction and never released to the public. There are, however, many series 1928A bills known to exist today. Series 1934 was printed but never released to the public. The 1934 denominations printed were the $100, $1,000, $10,000, and $100,000 bills.
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