1000 Dollars Federal Reserve Note, 'Redeemable in Gold'

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.