1928 $20 Gold: In the fascinating world of rare currency collecting, some banknotes rise above their face value to become true pieces of American history. The 1928 $20 Gold Certificate is one such gem, recently stealing the spotlight by selling for a jaw dropping $670,000 at auction. This massive price tag highlights the note’s rarity and its deep connection to the past.
A Rare Piece from a Bygone Time
The 1928 $20 Gold Certificate comes from a key moment in U.S. money history, marking the end of an era for gold backed currency before major changes under President Franklin D. Roosevelt’s New Deal. These notes let people trade paper money for gold coins, a practice that stopped in 1933 to help the economy during the Great Depression.
After Roosevelt’s Executive Order 6102, Americans had to turn in their gold coins, bars, and certificates. Most 1928 gold certificates were taken out of circulation and destroyed, making the ones that survived incredibly rare, especially those in perfect condition.
What Makes This Note So Special?
The 1928 $20 Gold Certificate that sold for $670,000 stood out because of its scarcity, amazing condition, and huge collector appeal. It was graded by Paper Money Guaranty (PMG) as Superb Gem Uncirculated 67 EPQ (Exceptional Paper Quality), one of the best examples known.
Its stunning design, with a bright golden seal and serial numbers alongside a detailed portrait of President Andrew Jackson, shows off artistry that collectors adore. The note’s crisp paper and vibrant colors make it more than money—it’s a masterpiece.
| Feature | Details |
|---|---|
| Grade | PMG 67 EPQ |
| Sale Price (2025) | $670,000 |
| Key Design Elements | Gold seal, Jackson portrait |
Proof of Collector Passion
The auction, held by a top numismatic company, saw fierce bidding from collectors worldwide. Auction officials said the intense interest shows a growing love for rare U.S. paper money, especially notes tied to history or with few survivors.
“Finding a 1928 gold certificate is rare, but one in such pristine condition is a once in a lifetime discovery,” said the auction house’s spokesperson. “This sale sets a new standard for gold certificates and early 20th century U.S. currency.”
A Glimpse into America’s Past
More than just a valuable item, the 1928 $20 Gold Certificate connects us to a time when the U.S. dollar was tied to gold. It captures the highs of the Roaring Twenties, the struggles of the Depression, and the reforms that reshaped America’s financial system.
For collectors, historians, and investors, this note’s huge sale price is more than a number. It’s a sign of our fascination with history and how everyday items like money can become priceless treasures.
Frequently Asked Questions (FAQs)
Q1: What is a 1928 $20 Gold Certificate?
A: It’s a U.S. paper note that could be swapped for gold. Issued by the Treasury, it had a gold seal and serial numbers and was backed by gold held by the government.
Q2: Why is the 1928 $20 Gold Certificate so rare?
A: In 1933, President Roosevelt banned private gold ownership, and most gold certificates were collected and destroyed. Few survived, especially in great condition.
Q3: What made this $670,000 note so valuable?
A: Its near perfect PMG 67 EPQ grade, extreme rarity, and historical importance drove its record breaking auction price.
Q4: Who bought the note?
A: The buyer’s identity wasn’t shared, as is typical in big auctions. It’s likely a private collector or investor focused on rare U.S. currency.
Final Thought
The $670,000 sale of the 1928 $20 Gold Certificate is more than a headline grabbing deal—it’s a powerful reminder that history lives in the objects we leave behind. Once just a piece of everyday cash, this note now stands as a symbol of a lost financial era and the value collectors see in rarity, beauty, and heritage. As interest in historical treasures grows, these notes will keep shining as investments and windows into America’s story.