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Series of 1928B Five Dollar Federal Reserve Notes - Values and Pricing

Series of 1928B Federal Reserve five dollar bills represent a transitional period for the green seal five dollar bill.  1928B fives are the first design to have a letter in the black seal instead of a number.

Most series of 1928B five dollar bills are common and can be bought for less than $30 in circulated condition.  Uncirculated 1928B five dollar bills will command a premium based on centering and eye appeal.


Series of 1928B green seal five dollar bills were signed by W.O. Woods as the Treasurer of The United States and by A.W. Mellon as the Secretary of the Treasury. 

1928B five dollar Federal Reserve notes also come in two slightly different seal colors.  The earlier 1928B fives have a darker green seal than the later 1928B fives.  The variation of green only affects values for uncirculated examples.

Keep in mind that the letter than begins or ends the serial number has nothing to do with the series.  Series of 1928B five dollar bills will have the letter B after “series of 1928” as shown below.

1928B five dollar bills are special because they were redeemable in gold.  They read “Redeemable In Gold On Demand At The United States Treasury, Or In Gold Or Lawful Money At Any Federal Reserve Bank.”  The above phrase is known as the gold clause.  This phrase does not make 1928A Federal Reserve note five dollar bills also gold certificates.  Gold certificates have a gold seal and were not even printed for the five dollar denomination in 1928. 

You can also find “Federal Reserve Note The United States Of America Will Pay To The Bearer On Demand Five Dollars” printed on each note.

All series of 1928B Federal Reserve notes were printed in Washington DC.  They feature a portrait of Abraham Lincoln and show the Lincoln Memorial on the back.  They have a green seal on the right and green serial numbers.  Remember that “In God We Trust” didn’t start until 1956.  Therefore no 1928B notes ever have that motto on them.

Star notes are more valuable than regular issues.  A series of 1928B five dollar star note will have a serial number that ends with a star symbol instead of a letter.  Star notes will have differing values based on grade and district.  To determine the district of issue, read the black seal.  Consult us for exact values.

We are very interested in purchasing high grade 1928B five dollar notes.  We are especially interested in consecutive runs.  We purchase all series of 1928B five dollar star notes.  Send us an email (
admin@oldcurrencyvalues.com) to get our offer on what you have.