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Value of 1928 $2 Dollar Bank Notes

Year: 1928
Types: Legal Tender Notes
(United States Bill)
Denomination: Two Dollar Bill
President: Thomas Jefferson
Seal Color: Red
Varieties: 1928, 1928A, 1928B, 1928C, 1928D, 1928E, 1928F, and 1928G

Picture of a Serial Number 1, 1928 Red Seal $2 Legal Tender with Thomas Jefferson at the center

Quick information about 1928 $2 Dollar Bills

Do you have a 1928 $2 bill and want to know its value? You’ve come to the right place. We’ll tell you exactly what you need to know.

If you’ve come across an old two dollar bill, you’re likely excited because of how rare these notes actually are. According to the US Currency official government website, the $2 bill is the most unique dollar bill ever printed. What most don’t know is these bills are still in circulation today, and many people who do find them immediately put them in their collection.

This guide will provide valuable information below. Here’s a quick summary of the key points:

  • 1928 $2 bills have a Red seal and Serial numbers
  • Thomas Jefferson is at the center
  • There are several varieties (1928, 1928A through G) which impact the value
  • Condition is King when figuring out values
  • 99% of these bills sell for $5 each, regardless of what people tell you

Keep reading to learn if your bill is potentially worth thousands.

Values

Star Notes

Mule Notes

Values & Varieties

There were a total of eight different series printed for the 1928 $2 dollar bills. Below we’ll go over each variety, how many bills were printed, and how much each one is worth. Remember, we’re serious buyers of all types of U.S. paper money; contact us if you have any questions.

Series 1928

1928

1928: This was the first series printed for the bills, and surprisingly is worth the least amount of money.

Total Printed: 55,889,424
Poor Condition – Value: $3 to $5
Good Condition – Value: $10 to $25
Perfect Condition – Value: $30 to $40

Picture of 1928 $2 Legal Tender

Series 1928A

1928A

1928A: These can be a bit more rare and valuable simply because fewer of them were printed.

Total Printed: 46,859,136
Poor Condition – Value: $4 to $6
Good Condition – Value: $20 to $30
Perfect Condition – Value: $40 to $60

$2 1928A Legal Tender Note

Series 1928B

1928B

1928B: With just over 9 million printed, this is the second-lowest print run for all 1928 $2 red seal bills. Values are listed below based upon condition.

Total Printed: 9,001,632
Poor Condition – Value: $10 to $15
Good Condition – Value: $25 to $50
Perfect Condition – Value: $75 to $125

$2 1928B Legal Tender Note

Series 1928C

1928C

1928C: This series had the second-highest print run compared to the rest. If you have a 1928C bill it is considered common.

Total Printed: 86,584,008
Poor Condition – Value: $4 to $5
Good Condition – Value: $12 to $25
Perfect Condition – Value: $30 to $40

$2 1928C Legal Tender Note

Series 1928D

1928D

1928D: The D series is the most common series simply because almost 150 million of them were printed. These $2 bills are close to their face value of $2 in poor condition.

Total Printed: 146,381,364
Poor Condition – Value: $3 to $4
Good Condition – Value: $6 to $10
Perfect Condition – Value: $15 to $18

$2 1928D Legal Tender Note

Series 1928E

1928E

1928E: This series has the lowest number of bills printed, however, this isn’t the rarest series. For some reason, collectors just aren’t interested in this series, regardless of condition.

Total Printed: 5,261,016
Poor Condition – Value: $4 to $5
Good Condition – Value: $10 to $15
Perfect Condition – Value: $16 to $25

$2 1928E Legal Tender Note

Series 1928F

1928F

1928F: With a print run this high, these bills will not be worth much money.

Total Printed: 43,349,292
Poor Condition – Value: $4 to $5
Good Condition – Value: $10 to $12
Perfect Condition – Value: $15 to $30

$2 1928F Legal Tender Note

Series 1928G

1928G

The least popular series for 1928 is the G series with over 50 million notes printed.

Total Printed: 52,208,000
Poor Condition – Value: $3 to $4
Good Condition – Value: $8 to $10
Perfect Condition – Value: $12 to $18

$2 1928G Legal Tender Note

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Star Notes

A bill with a star symbol at the end of the serial number is called a star note, also known as a replacement note. When there was a printing error or mistake on the bills, the Bureau of Engraving and Printing replaces them with a sheet of star notes. Star notes for red seal bills are rare and valuable. Check the table below to see if your star note is worth a lot of money.

red star

Series 1928 Star

1928

We don’t know how many 1928 stars were printed, but market values will give a good estimation of which series are the rarest.

Total Printed: Unknown
Poor Condition – Value: $20 to $40
Good Condition – Value: $50 to $100
Perfect Condition – Value: $200 to $350

$2 1928 Star Legal Tender Note

Series 1928A Star

1928A

This series is a better one when it comes to stars. If you have a 1928A star, we’re interested buyers.

Total Printed: Unknown
Poor Condition – Value: $75 to $150
Good Condition – Value: $175 to $300
Perfect Condition – Value: Over $1,000

$2 1928A Star Legal Tender Note

Series 1928B Star

1928B

Hands down the most valuable bill in the series is the 1928B star notes. We are top buyers of this type of note, consider yourself lucky if you have one of these! Contact us today if you need help with exact valuations.

Total Printed: Unknown
Poor Condition – Value: $1,000 to $2,500
Good Condition – Value: $5,000 to $7,500
Perfect Condition – Value: Over $10,000

$2 1928B Star Legal Tender Note

Series 1928C Star

1928C

One of the most common star notes for $2 red seals is the 1928C. Don’t expect much if your bill is in poor condition.

Total Printed: Unknown
Poor Condition – Value: $5 to $10
Good Condition – Value: $25 to $75
Perfect Condition – Value: $250 to $500

$2 1928C Star Legal Tender Note

Series 1928D Star

1928D

It’s usually in the uncirculated, high-grade condition where your bill is going to be worth a lot more money when it comes to this series.

Total Printed: Unknown
Poor Condition – Value: $10 to $15
Good Condition – Value: $30 to $75
Perfect Condition – Value: $100 to $125

$2 1928D Star Legal Tender Note

Series 1928E Star

1928E

Another very rare series for the $2 star note Legal Tenders. Make sure if you have one of these bills, you keep it in a safe place because it can be worth a lot of money.

Total Printed: Unknown
Poor Condition – Value: $250 to $500
Good Condition – Value: $750 to $1,200
Perfect Condition – Value: $2,500 to $5,000

$2 1928E Star Legal Tender Note

Series 1928F Star

1928F

Unless your bill has a fancy or cool serial number, these star notes won’t be worth too much money. The better the condition, the more money the note will be worth.

Total Printed: Unknown
Poor Condition – Value: $8 to $15
Good Condition – Value: $20 to $30
Perfect Condition – Value: $50 to $75

$2 1928F Star Legal Tender Note

Series 1928G Star

1928G

The 1928G series star notes were the last bills printed for 1928. You’d think this would make them rare but that’s not necessarily the case.

Total Printed: Unknown
Poor Condition – Value: $10 to $18
Good Condition – Value: $25 to $35
Perfect Condition – Value: $80 to $100

$2 1928G Star Legal Tender Note

Mules, Star Mules, and Others

What is a mule note? A mule note is simply a series of notes that used backplates from a different Series. So say the BEP printed 1928G $2 bill backs, but these backs ended up going on 1928B front bills. This would be a mule note.

What you need to know is how much money a mule note is going to be worth, and how to detect them. A star mule is simply a mule note that’s also a star note.

Series 1928C Mule

1928C

The 1928C Mule is the key to the series and most difficult to locate. If you have this mule note you have something worth a lot of money. Mule notes will have a back plate number of 289 and higher. Contact us and we’ll respond with our best offer within 24 hours.

Back Plate: 289 & above
Total Printed: Unknown
Poor Condition – Value: $75 to $100
Good Condition – Value: $125 to $200
Perfect Condition – Value: $500 to $750

$2 1928C Mule Legal Tender Note

Series 1928D Mule

1928D

These notes won’t be worth much more than the regular issued, non-mule notes. However, if you’re a collector and you enjoy these types of notes as we do, they’re fun!

Back Plate: 288 & below
Total Printed: Unknown
Poor Condition – Value: $15 to $25
Good Condition – Value: $30 to $45
Perfect Condition – Value: $50 to $75

$2 1928D Mule Legal Tender Note

Series 1928D Mule Star

1928D

This is the only series of $2 1928 bills that are both a Mule and a Star note, pretty cool. These are worth a bit more than a regular mule 1928D bill.

Back Plate: 288 & below
Total Printed: Unknown
Poor Condition – Value: $25 to $40
Good Condition – Value: $50 to $60
Perfect Condition – Value: $75 to $125

$2 1928D Mule Star Legal Tender Note

Series 1928 Fancy Serial Number

Fancy serial numbers come in all different types. The better the serial number, the more desirable it is for a collector, the more money its going to be worth. Check out the full fancy serial number guide we wrote here for more information.

Total Printed: Unknown
Poor Condition – Value: Dependant upon serial number
Good Condition – Value: Dependant upon serial number
Perfect Condition – Value: Dependant upon serial number

$2 1928 Fancy Serial Number Legal Tender Note

Conclusion

Two dollar bills from 1928 can be either worth their face value of $2, or as much as thousands of dollars; it all really depends on a number of factors including the series and condition. If you have a $2 bill you think is rare, contact us today as we’d be happy to give you our best offer. 

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