How Much Is a 1928 $20 Gold Certificate Worth

How Much Is a 1928 $20 Gold Certificate Worth?

The 1928 $20 Gold Certificate is a historical currency note that holds significant value for collectors and enthusiasts. While its face value states $20, the actual worth of this particular banknote can vary considerably depending on its condition, rarity, and demand in the market.

In general, a 1928 $20 Gold Certificate can be worth anywhere from a few hundred dollars to several thousand dollars. The exact value is determined by factors such as the grade (condition) of the note, any unique or rare characteristics it possesses, and the current market demand for such collectibles.

When assessing the grade of a banknote, collectors refer to a scale known as the Sheldon Grading Scale, which ranges from 1 to 70. A note graded 70 would be considered in perfect condition, while a note graded 1 would be heavily damaged or worn. The higher the grade, the more valuable the banknote becomes.

Rarity is another crucial factor determining the worth of a 1928 $20 Gold Certificate. If there were fewer notes printed or if certain variations or errors occurred during the printing process, the banknote’s rarity increases, making it more valuable to collectors.

Lastly, market demand plays a significant role in determining the price of a 1928 $20 Gold Certificate. The level of interest and demand from collectors and investors can greatly influence the price. Factors such as historical significance, aesthetic appeal, and popularity among collectors can all contribute to increased demand and a higher price tag.


1. Is a 1928 $20 Gold Certificate made of actual gold?
No, despite including the word “gold” in its name, the 1928 $20 Gold Certificate is not made of gold. The term “gold certificate” refers to a type of currency note that was once redeemable for gold at the United States Treasury. These notes were discontinued in the early 1930s when the United States moved away from the gold standard.

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2. How can I determine the value of my 1928 $20 Gold Certificate?
To determine the value of your 1928 $20 Gold Certificate, it is recommended to consult with a professional currency dealer or appraiser who specializes in collectible banknotes. They will assess the condition, rarity, and current market demand to provide an accurate valuation.

3. Are all 1928 $20 Gold Certificates worth a significant amount?
Not all 1928 $20 Gold Certificates are worth a significant amount. Factors such as condition, rarity, and demand determine the value. Some notes may be more common and therefore have a lower value, while others with unique characteristics or in pristine condition can be highly sought after and more valuable.

4. Where can I sell my 1928 $20 Gold Certificate?
You can sell your 1928 $20 Gold Certificate through various avenues, such as online marketplaces, currency dealers, or auction houses that specialize in collectible banknotes. It is advisable to do thorough research and seek multiple opinions to ensure you receive a fair price for your banknote.

5. Can I still use a 1928 $20 Gold Certificate as legal tender?
No, 1928 $20 Gold Certificates are no longer considered legal tender. They were officially demonetized in 1933 by President Franklin D. Roosevelt’s Executive Order 6102, which prohibited the hoarding of gold and required individuals to exchange their gold certificates for Federal Reserve Notes.

Please note that the information provided here is for informational purposes only and should not be considered as financial or investment advice. It is always recommended to consult with professionals in the field when dealing with collectible banknotes or any valuable assets.

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