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Value of Twenty Dollar Bill from the Series of 1928B

Series of 1928B Federal Reserve twenty dollar bills are common.  Circulated examples sell for around $30 and uncirculated examples are usually available for around $75 from most districts.

Keep in mind that the letter than begins or ends the serial number has nothing to do with the series.  Series of 1928B twenty dollar bills will have the letter B after or below “series of 1928” as shown below.


Series of 1928B twenty dollar bills have a black seal on the left hand side of the note that contains a letter.  This letter can be any letter from A to L.  The letter can slightly affect the value if the $20 bill is in uncirculated condition.  This seal is a design change from 1928 and 1928A $20 Federal Reserve note.  Those two years each had a seal with a number inside of it.

Star notes were issued for the series of 1928B twenty dollar bill.  All twelve districts issued star notes.  All star notes will command a premium over regular issue serial numbers.  If the serial number on your 1928B $20 bill ends with a star symbol, then you have a star note.

1928B twenty dollar bills are special because they were redeemable in gold.  They read “Redeemable In Gold On Demand At The United States Treasury, Or In Gold Or Lawful Money At Any Federal Reserve Bank.”  The above phrase is known as the gold clause.  This phrase does not make 1928B Federal Reserve $20 bills also gold certificates.  Gold certificates have a gold colored seal and serial number. 

You can also find “Federal Reserve Note The United States Of America Will Pay To The Bearer On Demand Twenty Dollars” printed on each note.  All series of 1928B $20 bills were signed by W.O. Woods as the Treasurer of The United States and by A.W. Mellon as the Secretary of the Treasury.

All series of 1928B $20 Federal Reserve notes were printed in Washington DC.  They feature a portrait of Andrew Jackson and show The White House on the back of each bill.  They have a green seal on the right and green serial numbers.  Remember that “In God We Trust” didn’t start until 1956.  Therefore no 1928B notes ever have that motto on them.  There are actually two different shades of green used for 1928B $20 bills.  This color can affect values for uncirculated notes and some star notes.

We only purchase 1928B $20 bills if they are in perfect condition or if they are star notes.  Send us an email (admin@oldcurrencyvalues.com) to get our offer on what you have.