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BC Vintage

1928 $20 Gold Certificate Note. PMG Gem Uncirculated Unc 66 EPQ

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1928 $20 Gold Certificate
Last Year of the Gold Certificate
Gem Uncirculated 66 EPQ - Exceptional Paper Quality

Low Population! PMG has graded over 3,700 specimens of this particular note, of which only 70 are graded Gem Unc 66 EPQ, with only 4 graded higher

Superb uncirculated condition - beautifully centered, bright-white borders, deep-rich colors and perfect ink printing and contrast
Exceptionally rare in high grade - investment quality note - the proper way to collect paper money!

The United States Treasury last issued gold certificates in 1933. That year, the country went off the "gold standard". The reasons for abandoning gold-backed currency are plenty, perhaps the most important being that citizens were hoarding the metal during the Great Depression, fearing the treasury department would declare all paper currencies obsolete and thus worthless. And so on June 5, 1933 President Franklin Roosevelt signed a bill outlawing private citizens from owning gold; all remaining gold coins in one's possession had to be immediately exchanged at the Federal Reserve for paper money, or face confiscation. This rather sordid episode of course explains the scarcity of the gold certificate and why it is so collectible today.

Note: The treasury department scaled down the actual physical dimensions of all currency to today's present size in June, 1929; its chief reason was to save the cost of paper and printing. During the Roaring Twenties the government was printing money at an extremely high rate. Sound familiar?!

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1928 $20 Gold Certificate Note. PMG Gem Uncirculated Unc 66  EPQ
1928 $20 Gold Certificate Note. PMG Gem Uncirculated Unc 66  EPQ