Twenty Dollar Bill Green Seal FRN Series 1928 US Currency

Item # IT058135
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We are pleased to offer for sale this Twenty Dollar Bill Green Seal FRN Series 1928 US Currency.  These $20 Green Seal FRNs are off-quality notes that may have some stains, tears, heavy folds or writing. These $20 Green Seal Federal Reserve Notes are Series 1928, 1928 A, B, or C (our pick).  Each bill comes in a currency sleeve for protection.  These $20 Green Seal Federal Reserve Notes will make a nice addition to any currency collection!

Information on these Federal Reserve Note Series 1928 Twenty Dollar Bills:

Series 1928 Federal Reserve Notes came in vivid green, dark green, and green seals. Series 1928 was the first small or modern size $20 bill.  The bills feature a portrait of Andrew Jackson on the obverse and a south view of the White House on the reverse.  Series 1928 $20 Federal Reserve Notes can be distinguished from future series by  the obligation statement.  The 1928 series obligation statement included the words "IN GOLD" which was changed in future series to "IN LAWFUL MONEY" because of the US being taken off of the gold standard.  

What is a Federal Reserve Note?

Federal Reserve Notes are United States Currency also known as Greenbacks, Feds, or FRNs.  Federal Reserve Notes were authorized by an Act of Congress, December  23, 1913.  Federal Reserve Notes are the main currency that we use today.   All Federal Reserve Notes can be distinguished by their green seals.  Federal Reserve Notes are obligations of the United States and are a first lien on the assists of the issuing Federal Reserve Bank.  These notes are also secured by a pledge of collateral equal to the face value of the note.  The collateral consists of one of the following assets:  1) Gold Certificates, 2) Special Drawing Right Certificates, 3) United States Government Securities, or 4) "eligible paper" as described by the statue.  

Federal Reserve Notes are currently issued in denominations of $1, $2, $5, $10, $20, $50, and $100.  The Department of the Treasury discontinued issuance of  $500, $1,000, $5,000, and $10,000 Federal Reserve Notes on July 14, 1969 because of a lack of demand.

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