Description
FR‑2053‑L — 1928C $20 Federal Reserve Note from the San Francisco District, one of only two districts (San Francisco and Chicago) that issued the scarce 1928C series. This is a genuinely tough early small‑size $20, with survival rates far lower than the surrounding 1928 and 1928A/B issues.
PMG has graded just 88 examples for the San Francisco district. At the 63EPQ level, only three notes exist, with five finer, all of which are 64Q. Zero Gems are recorded at PMG — making this Choice Uncirculated EPQ example a true condition rarity.
Certified PMG 63EPQ Choice Uncirculated, this note shows bright white paper, sharp original inks, and the classic “saved-from-the-pack” look typical of the few high‑grade survivors. Centering is respectable for the type, and the EPQ designation confirms fully original paper quality.
Auction history underscores the scarcity and demand: • The last PMG 63Q realized $3,360 (2022, Heritage) • The last PMG 64Q realized $4,800 (2024, Heritage)
A rare opportunity to acquire a high‑end example of one of the toughest early small‑size $20 district/series combinations.
P.M.G TOTAL POPULATION REPORT #88 GRADED
TOTAL IN P.M.G #63Q #3
TOTAL HIGHER #5 ALL 64Q
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