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Series of 1928 Five Dollar Federal Reserve Notes - Values and Pricing

A circulated 1928 five dollar Federal Reserve note is typically worth around $25.  However, truly uncirculated green seal series of 1928 fives can be worth $100 or more.  We would need scans or digital photos of your note in order to determine the actual grade.

Series of 1928 five dollar green seals are sometimes called numeral notes.  This is because the black seal on the left hand side of the note contains a number (1 – 12) which represents the issuing Federal Reserve Bank.

Series of 1928 green seal five dollar bills were signed by H.T. Tate as the Treasurer of The United States and by A.W. Mellon as the Secretary of the Treasury. 

1928 five 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 1928 Federal Reserve note five dollar bills also gold certificates.  Gold certificates have a gold seal and were not even printed for the five dollar denomination in 1928. 

You can also find “Federal Reserve Note The United States Of America Will Pay To The Bearer On Demand Five Dollars” printed on each note.

All series of 1928 Federal Reserve notes were printed in Washington DC.  They feature a portrait of Abraham Lincoln and show the Lincoln Memorial on the back.  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 1928 notes ever have that motto on them.

Two things are very important when looking at a series of 1928 five dollar bill.  Condition is extremely important.  The serial number on a series of 1928 five can be the difference between $20 and hundreds of dollars.

Look for notes that have serial numbers that start with six or more zeros.  Serial numbers that end with a star symbol could be especially valuable. 

Keep in mind that the condition and serial numbers are very important when determining values for star notes.  However, assuming lightly circulated condition and a generic serial number, the following chart is a basic guideline for 1928 five dollar green seal star notes:

Boston (1) - $400+
New York (2) - $200+
Philadelphia (3) - $250+
Cleveland (4) - $150+
Richmond (5) - $350+
Atlanta (6) - $350+
Chicago (7) - $75+
St. Louis (8) - $500+
Minneapolis (9) - $650+
Kansas City (10) - $250+
Dallas (11) - $400+
San Francisco (12) - $650+

We are very interested in purchasing high grade 1928 five dollar notes.  We are especially interested in consecutive runs.  We purchase all series of 1928 five dollar star notes.  Send us an email (admin@oldcurrencyvalues.com) to get our offer on what you have.