1928 $20 Star Note

[SilverHunterKF]

I recently purchased what I think is a pretty cool 1928 $20 Star FRN Chicago. It has some staining but otherwise is in Fine condition I think, regardless of the condition, the serial # is 00000255, and I'm curious if any of you have seen a lower numbered note from this star note run. I'm considering having it graded just because of how low the serial number is, I'm mostly a coin collector and somewhat new to currency grading standards especially regarding stains.

 

Also, I've done a lot of looking around and can't find a source for printing size of this star note run. Can anyone help me with that information?

 

I will try to get a good scan of the note tomorrow.

[Steve in Tampa]

Looks like they lump series 1928,1928A and 1928B Chicago star notes together and the total is 264,000. I usually stay away from problem notes (staining) but that is a low serial number.

 

This link gives the totals; http://www.uspapermoney.info/serials/all___v.html

 

Scroll down the page to see the star notes.

[SilverHunterKF]

Thank you! 264k seems like a pretty low printing for those 3 series.

 

I've been searching auction records and haven't found any with a 3 digit serial number, most appear to be 5 and 6 digit.

[SilverHunterKF]

Here are a couple pictures of the note

[Steve in Tampa]

The dreaded "Rusty Paper Clip" stain, otherwise an evenly circulated early small-size $20 Star.

[1928man]

I collect the series and have a lower numbered star....#158*

 

[SilverHunterKF]

Indeed you do. Well hell, thought I had a real good one. Regardless, I'm going to be hanging onto this one for a while, it's my only $20 Star note.

 

1928man, as a collector of this series, do you value the lower serial notes more than thise with high serial numbers? Have you found any trend within this series, such as a large number of low serial notes surviving in higher grades?

[1928man]

Certainly the lower serial numbers (1000 or lower) are more desirable for most notes.The lower they are the more you can expect to spend.The values,both monetarily and collectable,are higher as you go to the least number of digits rather than the number itself(in most cases)-for example....#128 would be worth less than #78 and #78 less than #8.That stated,grade also does come into play.As to trends,the only thing that seems to hold true is that the lowest numbers (approximately 1-100 non-stars)tend to be in higher grades mostly as many were,in the 1928 series, given away to government officials as sheets of 12 notes each.These sheets eventually ended up in the hands of collectors-they were usually well kept and then cut up and dispersed to the collecting community.I'm pretty sure there are still a few uncut sheets still around.Keep in mind that within the 1928 series there are $5,$10,$20,$50 and $100 denominations so there are a good number of these low-numbered non-stars out there.The stars are a different story as they were,one by one,inserted into the non-star packs as needed to replace mis-printed notes and so their grades are all over the map as they were all in packs that were circulated(for the most part).

[SilverHunterKF]

That's along the lines of what I was thinking. I didn't know that there were uncut sheets of series 1928 notes...I'd love to come across something like that. Even with the rust stain, I'm pretty happy with this purchase.

[A. E. Isham]

How much are you asking for the 00000255 note?