1928 Gold Certificate Value
Gold certificates are immediately recognizable by their gold-yellow Treasury seal and serial numbers, and by the bright orange reverse on large-size issues. The 1928 series is the small-size gold certificate, issued in denominations from $10 up to $1,000 and beyond.
In 1933 the government recalled gold and made private ownership of gold certificates illegal, which is why so few survive. That restriction was lifted in 1964 and the notes have been legal to own ever since, though they are no longer redeemable in gold.
Quick facts
- Type
- Gold Certificate, small size
- Series
- 1928, 1928A
- Seal and serials
- Gold
- Recalled
- 1933, legal to own again from 1964
- Denominations
- $10, $20, $50, $100, $500, $1,000
1928 Gold Certificate value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| $10, well worn | $70 to $110 | |
| $10, uncirculated | $300 to $900 | |
| $20, well worn | $90 to $150 | |
| $20, uncirculated | $400 to $1,200 | |
| $50, well worn | $200 to $400 | |
| $100, well worn | $220 to $400 | |
| $100, uncirculated | $900 to $3,500 |
The $500 and $1,000 gold certificates are rare and trade in the five figure range. Any note at that level should be authenticated professionally before sale.
Scan any banknote with Money Scanner
Point your camera at a bill and get the series, type, rarity, and an estimated value range in seconds. No typing, no guessing at the series letter.
- Reads the series, seal type, and signatures from a photo
- Flags star notes and collectible serial number patterns
- Estimates a value range by condition
- Works on US and world banknotes
The 1933 recall
Executive Order 6102 in 1933 required Americans to turn in gold coin, gold bullion, and gold certificates. Most gold certificates were surrendered and destroyed, which is the single reason surviving examples carry the premium they do.
Holding them remained technically illegal until 1964, when the restriction was quietly dropped. The notes are legal tender at face value today but cannot be redeemed for gold.
Telling a gold certificate from a yellow seal note
Two different things carry yellow-gold seals. Gold certificates say GOLD CERTIFICATE across the top and promise payment in gold coin. North Africa emergency notes are silver certificates with a yellow seal, and they say SILVER CERTIFICATE.
Read the heading rather than judging by the seal color. They are different issues with different price structures.
Frequently asked questions
Are gold certificates legal to own?
Yes. The 1933 prohibition was lifted in 1964. They are legal tender at face value but not redeemable for gold.
Can I exchange a gold certificate for gold?
No. The gold redemption obligation ended in 1933 and was never restored. The note is worth face value plus whatever collectors pay.
How do I know if my note is a gold certificate?
The seal and serial numbers are gold-yellow and the text across the top reads GOLD CERTIFICATE. Large-size versions also have a distinctive bright orange reverse.