1928 $500 Federal Reserve Currency Note New York PMG VF 25 (Ink, Pinholes)

1928 $500 Federal Reserve Currency Note New York PMG VF 25 (Ink, Pinholes)

Enhance your collection with this 1928 $500 Federal Reserve Note from New York, graded Very Fine 25 by PMG. High-denomination notes like this were once vital for large financial transfers between banks but were discontinued in the late 1960s. This note displays the classic portrait of President William McKinley on the front, while the reverse boldly features the denomination “FIVE HUNDRED DOLLARS.” Its scarcity and historical importance make it a standout acquisition for advanced numismatists.

The 1928 series was the first small-size Federal Reserve Note issue following the transition from the larger “horse blanket” notes. At the time, $500 bills were primarily used for interbank settlements and large-scale commercial transactions, rarely entering everyday circulation. By 1969, the U.S. government halted their issuance, citing advancements in banking and electronic transfers. Surviving examples, especially from earlier series like 1928, are prized for their rarity and status as relics of American monetary history. Notes tied to specific Federal Reserve districts, such as New York, further enrich their historical and collectible value.

Note Specifications:

• Graded as VF 25 by PMG
• Denomination: $500
• Obverse: Beautifully showcases a portrait of President William McKinley, encapsulating his legacy and significance to American history.
• Reverse:  Displays a simple yet bold design showcasing “FIVE HUNDRED DOLLARS” in large font

The 1928 $500 Federal Reserve Currency Note New York PMG VF 25 (Ink, Pinholes) represents a rare chance to own a tangible artifact of America’s financial heritage. With its early series designation, Federal Reserve backing, and distinctive certification, this note stands as both a prestigious collectible and a meaningful piece of U.S. banking history.

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