{"product_id":"10-federal-reserve-note-series-1928a-redeemable-in-gold-hamilton-miscut","title":"$10 Federal Reserve Note - Series 1928A - Hamilton Miscut (PSV 25)","description":"\u003cblockquote class=\"ml-2 border-l-4 border-border-300\/10 pl-4 text-text-300\"\u003e\u003c\/blockquote\u003e\n\u003ch3 class=\"text-text-100 mt-3 -mb-1 text-[1.125rem] font-bold\"\u003eProduct Description:\u003c\/h3\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eMetalStacks proudly presents an exceptional and historically significant piece of pre-Depression American currency with this \u003cstrong\u003eSeries 1928-A $10 Federal Reserve Note\u003c\/strong\u003e — featuring the iconic \u003cstrong\u003egreen Treasury seal\u003c\/strong\u003e, the historically momentous \u003cstrong\u003e\"Redeemable in Gold on Demand\"\u003c\/strong\u003e clause, and a genuine \u003cstrong\u003emiscut printing error\u003c\/strong\u003e that elevates this note well beyond standard circulation issues. This note combines three of the most sought-after attributes in U.S. paper money collecting: a \u003cstrong\u003epre-1933 gold-redeemable issue\u003c\/strong\u003e, a \u003cstrong\u003ehistorically significant signature pairing\u003c\/strong\u003e, and a \u003cstrong\u003everified Bureau of Engraving and Printing production error\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e(PSV 25)\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThe 1928-A series is the \u003cstrong\u003esecond-ever small-size $10 Federal Reserve Note issue\u003c\/strong\u003e, produced during the brief window when the U.S. dollar was still directly convertible to physical gold. Just five years after this note was printed, \u003cstrong\u003ePresident Franklin D. Roosevelt signed Executive Order 6102 in 1933\u003c\/strong\u003e, prohibiting private gold ownership and effectively ending the gold redemption clause forever. This single piece of legislation transformed every pre-1933 gold-redeemable note into a genuine artifact of a closed monetary era — making this 1928-A note a tangible piece of American history before the U.S. departed from the gold standard.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThis particular example exhibits a \u003cstrong\u003enoticeable miscut error\u003c\/strong\u003e, with the design shifted off-center — a Bureau of Engraving and Printing production irregularity that produces an asymmetrical border and creates a true one-of-a-kind collectible. The combination of a \u003cstrong\u003egold-redeemable issue\u003c\/strong\u003e with a \u003cstrong\u003evisible production error\u003c\/strong\u003e is an exceptionally rare convergence in U.S. paper money collecting — error notes from the pre-1933 era are particularly scarce, as fewer examples have survived in collectible condition with verifiable production irregularities intact.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThe note features a striking engraved portrait of \u003cstrong\u003eAlexander Hamilton\u003c\/strong\u003e — the first U.S. Secretary of the Treasury and founding architect of the American financial system — at center. The note bears the signatures of \u003cstrong\u003eW.O. Woods\u003c\/strong\u003e (Treasurer of the United States) and \u003cstrong\u003eAndrew W. Mellon\u003c\/strong\u003e (Secretary of the Treasury) — one of the most influential Treasury Secretaries in American history, who served under Presidents Harding, Coolidge, and Hoover. Issued by the \u003cstrong\u003eFederal Reserve Bank of New York (District 2)\u003c\/strong\u003e, the financial capital of the United States.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThis particular example is housed in a protective rigid currency holder and elegantly presented within a \u003cstrong\u003ehandsome wood display frame with a black matted backdrop\u003c\/strong\u003e, transforming it into a finished showcase piece ready for immediate display. The note exhibits natural signs of age and circulation consistent with its nearly century-old vintage, including subtle toning, paper texture variations, and minor wear that authentically reflect its journey through American history. \u003cstrong\u003eOnly one note is available, and it bears a unique serial number, making this a truly one-of-one collectible offering.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eNote Information\u003c\/strong\u003e\u003c\/p\u003e\n\u003cul class=\"[li_\u0026amp;]:mb-0 [li_\u0026amp;]:mt-1 [li_\u0026amp;]:gap-1 [\u0026amp;:not(:last-child)_ul]:pb-1 [\u0026amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3\"\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eSeries: 1928-A\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eDenomination: $10\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eType: Federal Reserve Note (Gold Redeemable Issue)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eSeal Color: Green Treasury Seal\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eIssuing Bank: Federal Reserve Bank of New York (B2)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eSerial Number: B27738400A\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003ePortrait: Alexander Hamilton (1st U.S. Secretary of the Treasury)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eSignatures: W.O. Woods (Treasurer) \/ Andrew W. Mellon (Secretary of the Treasury)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eError Type: Miscut \/ Off-Center Printing Error\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eSpecial Feature: \"Redeemable in Gold on Demand\" clause (pre-1933 issue)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eGrade: Circulated\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eIssuer: United States of America\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003ePaper Type: Government-issued cotton\/linen blend\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eRedemption Clause: \"Redeemable in Gold on Demand at the United States Treasury, or in Gold or Lawful Money at any Federal Reserve Bank\" (historical)\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003ePresentation: Rigid currency holder mounted within a wood display frame\u003c\/li\u003e\n\u003cli class=\"font-claude-response-body whitespace-normal break-words pl-2\"\u003eAvailability: One (1) note only\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eDesign Details\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eObverse:\u003c\/strong\u003e Features the classic engraved portrait of \u003cstrong\u003eAlexander Hamilton\u003c\/strong\u003e at center, framed by ornate scrollwork and the Federal Reserve Bank of New York seal (B2). The \u003cstrong\u003egreen Treasury seal\u003c\/strong\u003e appears to the right of Hamilton's portrait, with matching \u003cstrong\u003egreen serial numbers\u003c\/strong\u003e (B27738400A) flanking the central design. The inscription \u003cstrong\u003e\"FEDERAL RESERVE NOTE\"\u003c\/strong\u003e appears prominently across the top, while the \u003cstrong\u003ehistorically significant gold redemption clause\u003c\/strong\u003e runs along the upper left of the note: \u003cem\u003e\"REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY, OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK.\"\u003c\/em\u003e The \"SERIES OF 1928 A\" designation appears alongside the signature of Secretary Andrew W. Mellon, while Treasurer W.O. Woods's signature appears at the lower left. The promise \u003cstrong\u003e\"WILL PAY TO THE BEARER ON DEMAND\"\u003c\/strong\u003e runs along the bottom border — a hallmark of the gold-standard era of American currency. The \u003cstrong\u003emiscut error\u003c\/strong\u003e is plainly visible, with the design shifted from its standard alignment — an authentic Bureau of Engraving and Printing production irregularity that adds significant collector appeal.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eReverse:\u003c\/strong\u003e Displays a detailed engraved view of the \u003cstrong\u003eU.S. Treasury Building\u003c\/strong\u003e in Washington, D.C., flanked by bold \"10\" and \"TEN\" denominations at each corner. Ornate scrollwork frames the central vignette, with \"THE UNITED STATES OF AMERICA\" arched across the top and \"TEN DOLLARS\" across the bottom. The inscription \u003cstrong\u003e\"U.S. TREASURY\"\u003c\/strong\u003e appears beneath the central engraving. The miscut alignment carries through to the reverse, providing visual confirmation of the printing error across both sides of the note. This reverse design — the original 1928 Treasury Building view — was used until the 1950 series redesign, making it a key visual identifier of pre-Depression $10 Federal Reserve Notes.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eHistorical Significance\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThe Series 1928-A $10 Federal Reserve Note is a tangible artifact from one of the most consequential transitions in American monetary history. Issued during \u003cstrong\u003e1928 and 1929\u003c\/strong\u003e, the 1928-A series spans the final years of the Roaring Twenties and the immediate run-up to the \u003cstrong\u003eStock Market Crash of October 1929\u003c\/strong\u003e — the event that triggered the Great Depression and ultimately reshaped American monetary policy forever.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eGold-Redeemable Currency:\u003c\/strong\u003e The defining feature of this note is the \u003cstrong\u003e\"REDEEMABLE IN GOLD ON DEMAND\"\u003c\/strong\u003e clause printed on its obverse. Until 1933, holders of Federal Reserve Notes could legally walk into the U.S. Treasury or any Federal Reserve Bank and exchange their paper currency for \u003cstrong\u003ephysical gold coins or gold bullion\u003c\/strong\u003e. This direct convertibility to gold defined the American monetary system for generations — and is something that has never returned to U.S. paper currency since.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eExecutive Order 6102 (1933):\u003c\/strong\u003e Just five years after this note was printed, President Franklin D. Roosevelt signed the historic executive order that \u003cstrong\u003eprohibited the private ownership of gold\u003c\/strong\u003e in the United States. Citizens were required to surrender their gold coins, bullion, and gold certificates to the Federal Reserve in exchange for paper currency, at a rate of $20.67 per ounce. The gold redemption clause on Federal Reserve Notes was effectively voided, and by 1934 — following the Gold Reserve Act — the U.S. dollar was officially devalued and the domestic gold standard was abolished.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eThe Mellon Era:\u003c\/strong\u003e This note bears the signature of \u003cstrong\u003eAndrew W. Mellon\u003c\/strong\u003e, one of the most consequential Treasury Secretaries in American history. Serving from 1921 to 1932 under three presidents (Harding, Coolidge, and Hoover), Mellon was a pivotal figure in American economic policy during the Roaring Twenties and the early years of the Great Depression. As one of the wealthiest men in America at the time, Mellon's tenure shaped post-WWI tax policy, federal debt reduction, and the financial architecture leading into the Depression. Notes bearing his signature carry profound historical weight far beyond their numismatic value.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eHamilton's Legacy:\u003c\/strong\u003e The choice of \u003cstrong\u003eAlexander Hamilton\u003c\/strong\u003e for the $10 note is itself historically meaningful. As the \u003cstrong\u003efirst U.S. Secretary of the Treasury (1789–1795)\u003c\/strong\u003e, Hamilton designed the foundational structure of American finance — establishing the U.S. Mint, the First Bank of the United States, and the federal credit system. His portrait has appeared on the $10 bill in every series since 1928 and remains there today, making this Hamilton portrait one of the longest-running design elements in American paper currency.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eFederal Reserve Bank of New York:\u003c\/strong\u003e This note was issued by the \u003cstrong\u003eFederal Reserve Bank of New York (B2)\u003c\/strong\u003e — the largest, most influential, and most active of the twelve regional Federal Reserve Banks. Located in the heart of Wall Street, the New York Fed has always served as the operational center of U.S. monetary policy and international financial transactions. Notes from this district carry additional collector appeal due to the New York Fed's outsized historical role.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003eThe Significance of the Miscut Error:\u003c\/strong\u003e Error notes from the pre-1933 era are particularly desirable to advanced collectors, as fewer examples have survived in collectible condition with verifiable production irregularities intact. The Bureau of Engraving and Printing's quality control standards in the late 1920s were highly stringent, and notes with visible miscut errors that escaped inspection are uncommon. When such an error appears on a \u003cstrong\u003egold-redeemable note\u003c\/strong\u003e — itself a closed category of U.S. currency — the result is a doubly significant rarity: a piece of pre-Depression American currency that combines historical, monetary, and production-error significance in a single example. This convergence of attributes makes this note a standout addition for serious U.S. paper money collectors, error note specialists, and pre-1933 currency enthusiasts alike.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003e\u003cstrong\u003ePresentation\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eThis nearly century-old gold-redeemable error note is securely housed in a protective rigid currency holder and elegantly mounted within a \u003cstrong\u003ewood display frame with a black matted background\u003c\/strong\u003e, ready for immediate display on a desk, shelf, mantel, or wall. The framed setup protects the fragile vintage paper while allowing full visibility of its design, green seal, Hamilton portrait, gold redemption clause, serial number, signatures, and the distinctive miscut error. As with all MetalStacks offerings, the note has been carefully handled and verified for authenticity.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eBecause only one example is available, the exact note shown — including its distinct serial number, miscut error, and individual condition — is the note you will receive.\u003c\/p\u003e\n\u003cp class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\"\u003eFor additional details or collector inquiries, please contact MetalStacks at \u003cstrong\u003e(561) 529-3001\u003c\/strong\u003e.\u003c\/p\u003e","brand":"MetalStacks","offers":[{"title":"Default Title","offer_id":48146388746485,"sku":"MS$101928ACAT14","price":99.97,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0609\/4444\/9781\/files\/MSSTACK4-4_6.png?v=1778699476","url":"https:\/\/metalstacks.net\/products\/10-federal-reserve-note-series-1928a-redeemable-in-gold-hamilton-miscut","provider":"Metalstacks","version":"1.0","type":"link"}