Catalog
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| Issuer | Federal Reserve Bank / United States Treasury |
|---|---|
| Year | 1928 |
| Type | Standard circulation banknote |
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| Obverse description | Intaglio-printed face carries a central oval vignette with a three-quarter portrait of Abraham Lincoln, flanked by the circular Federal Reserve district seal to the left and the green Treasury seal to the right. A green guilloche underprint runs across the full face, with the obligation text arching above the vignette and the denomination spelled out in large numerals and words at the lower corners. Issuing authority inscriptions and the district identification number appear within the standard small-size series layout. |
|---|---|
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| Reverse description | Entirely engraved in green ink, the reverse centres on a fine-line intaglio vignette of the Lincoln Memorial rendered in frontal elevation, its full colonnade and stepped base clearly articulated. The country name arches above the building and the denomination is inscribed below in both numerals and words, set against an open field with no additional underprint. The composition follows the standard small-size series format introduced in 1928. |
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| Comments |
The 1928 series marked the Federal Reserve's shift to the smaller "small-size" format — a cost-cutting redesign that standardized all U.S. currency dimensions and retired the large-size notes that had been in circulation since the Civil War era. What makes P#420 particularly interesting to specialists is the seal color variation within the 1928B subseries: the transition from forest green through "transitional green" to yellow-green reflects mid-run ink formula changes at the Bureau of Engraving and Printing, and distinguishing between them requires good lighting and a reference set — catalog descriptions alone are insufficient.
The 1928D is notably scarce, issued only by the Dallas district (F/6) under the brief Woodin tenure. William Woodin served as Treasury Secretary for less than a year before illness forced his resignation in late 1933, making his signature combinations among the shortest-lived of any U.S. currency run.