Federal Reserve Note Series 1928 $20 Redeemable in Gold Clause: The Variety That Disappeared After 1933
The Series 1928 $20 Federal Reserve Note carries one of the most historically charged phrases ever printed on American paper money: ‘Redeemable in Gold on Demand at the United States Treasury.’ Understanding why that clause vanished after 1933, and how it affects rarity and value today, is essential knowledge for any serious collector of small-size currency.
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