PCGS Grades Extremely Rare 100-Pack of Series 1928A $50 Federal Reserve Notes
Professional Coin Grading Service recently graded a full pack of Series 1928A $50 Notes, with 11 of the 100 notes issued as Replacement Star Notes bearing an older design
(Santa Ana, California) – Professional Coin Grading Service (www.PCGS.com) recently graded an extraordinarily rare 100 pack of Series 1928A $50 Federal Reserve Notes. This complete pack, which is rare in its intact form, is made further unusual because it contains 11 Star Notes bearing a design that had been officially discontinued.
“The incredible 100-pack of 1928A $50s exemplifies why our pack grading service has proven so popular with collectors and dealers alike,” PCGS President Stephanie Sabin remarks. “While these notes are individually scarce and valuable, there is a major novelty factor behind grading these pieces as a 100-pack lot as was originally discovered that would be forever lost if each note was graded and encapsulated individually.”
These Series 1928A Federal Reserve Notes were printed in 1931 in Washington, D.C., before being issued by the Federal Reserve Bank in New York City. They could be redeemed for gold at the United States Treasury or any Federal Reserve branch bank. When issued during the heart of the Great Depression, this 100-pack of $50 notes, with its cumulative $5,000 face value, had the equivalent purchasing power of around $100,000. Notes like these would no longer be convertible to gold just a couple of years after their issuance due to domestic gold conversion being banned under an Executive Order declared by President Franklin Delano Roosevelt in 1933.
Eleven of the 100 notes are Star Replacement Notes that bear the previously used design, also issued as Series 1928 (but without the A series suffix), and feature numeric Federal Reserve district seals with number codes versus letter codes. This 100-pack of Series 1928A $50 Federal Reserve Notes was discovered in 2017 and submitted to PCGS for grading by Stack’s Bowers Galleries on behalf of a client. It received a pack grade of Choice Unc. 63PPQ.
“This unique full pack underscores the importance and value of the PCGS Banknote pack grading service,” adds Sabin. “This nearly century-old piece of original numismatic history is now preserved in our secure and innovative full-pack holder for future generations to enjoy.”
For more information on PCGS pack grading services, please visit the website.
You may also like:
