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1000 Dollars Federal Reserve Note, 'Redeemable in Gold'
| Issuer | Federal Reserve System, United States |
|---|---|
| Year | 1928 |
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| Composition | Cotton/linen blend |
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| Obverse description | Central intaglio-printed vignette of President Grover Cleveland in three-quarter portrait, framed within an ornate oval border with laurel sprigs, set against a fine guilloche underprint. The Federal Reserve district letter and number appear in large numerals at left and right, with the issuing bank seal to the left of the portrait and the Treasury seal to the right. The gold redemption clause is inscribed in the upper left panel, with the bearer obligation legend and denomination in large letterpress type along the lower portion. |
|---|---|
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| Reverse description | Printed in green ink, the reverse carries a bold central panel with the legend 'The United States of America' in ornate script lettering above 'ONE THOUSAND DOLLARS' in large serif capitals, all enclosed within an elaborate lathe-work guilloche border. The four corners each bear the numeral '1000' in large block figures, and intricate geometric engine-turned patterns fill the remaining field. The overall design is simple yet formal, relying entirely on the quality of the intaglio and letterpress work for its security. |
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| Comments |
The 1928 series marked the transition from the large-format "horse blanket" notes to the smaller dimensions used ever since — a practical reform driven by the cost of paper and the wear rate of oversized bills. At the $1000 level, these never circulated in any meaningful sense; they moved between Federal Reserve banks and the Treasury as interbank settlement instruments, rarely touching private hands.
The "Redeemable in Gold" obligation printed on this series would survive only until 1933, when Roosevelt's Executive Order 6102 and the subsequent gold-recall program made such language legally awkward. Later $1000 notes quietly dropped the gold clause. The Federal Reserve discontinued the $1000 denomination entirely in 1969, and surviving examples were ordered cancelled as they returned to the Fed — making intact specimens genuinely uncommon.