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Coin and Paper Money Collecting/1928 $20 gold clause note


1928 $20
1928 $20  
 I have a 1928 gold clause? note. It was printed in Minneapolis. Could you give any information about scarcity and approximate value?

Thank you, Bernie

Hi Bernie:

Okay. Let's go with what you've given me.  It appears you have a lightly circulated 1928 Series Star note, relatively low serial number $20 Federal Reserve Note, with the signatures of "Tate" and "Mellon". The current trends in "Paper Money Values" for a (Friedburg # 2050-I*) 1928 $20 note is $500 in VF condition. Your note is probably a higher grade, so let's say $750 for Extra Fine condition. The lower serial number may be of some added value to an interested collector.

Remember, dealers usually pay about 50-60% of retail for items they are interested in.

Check with a reliable auction firm for more information, like Heritage Auctions, at: or see:

Hope this gives you the information you were looking for and good luck in your collecting.  

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Ronald Fern


I can answer most all questions relating to US coins, tokens, and currency. I'm not strong on world coins or ancients. Primary field of expertise is errors and varieties. Over 55 years experience in coin collecting. Part time dealer since 1976. Employed by McDonnell Douglas/Boeing for over 34 years as an Industrial Engineer/Technical Specialist before retiring in 2002.


Worked weekends for "Lonesome" John in the late 1960's to mid 1970's processing error coins, packaging, and preparing orders. Worked with John Devine and Fred Weinberg on several California Error A Rama's in the early 1970's. Served as display judge at annual Error-A-Rama coin shows. Opened and operated mail order coin business DBA "CAL ERRORS" in 1976. Contributor to Alan Herbert's "Official Price Guide To Mint Errors" and Fivaz/Stanton "Cherrypickers' Guide". Worked Saturdays at Huntington Beach Coin Exchange 1980-1999. Had table and sold coins at a number of coin and gun shows in So CA, AZ and NV. Sell coins, tokens and currency on Facebook. Past "Errorscope" Editor. Presently CONECA Examiner.


Errorscope, Numismatic News, Civil War Token Journal, Error and Variety News

AA Degree LBCC pre Engineering, 1964 BS Degree CSULB Ind Technology, 1968

Awards and Honors
1st Place EAR Trophy for Civil War Token Errors, NLG Author of Year Award for best monthly coin column "Error News and Views" in small Numismatic paper, owned and published by Ray Anthony.

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