Sorry! This United States 1928 1000 Dollars P# 426 Very Fine (Repaired Tear) has sold.
United States 1928 1000 Dollars P# 426 Very Fine (Repaired Tear)
The 1928 $1,000 is far rarer than those dated 1934.
| We Last Sold This Item For: | $3,623.00 |
|---|---|
| Last Sold On: | 14/1/2025 |
| # Sold In Past 12 Months: | 1 |
Recent Sales in this Category
New Zealand 1981 Consecutive Trio of $5 Notes JAA First Prefix P#171af Uncirculated
Last sold on: 15/6/2024
$150.00
United States 1928 1000 Dollars P# 426 Very Fine (Repaired Tear)
Front: President Grover Cleveland at centre, denomination in each corner
Back: Denomination at centre and in each corner
Serials: L 00020259 A
Federal Reserve Branch: San Francisco / California
Signatures: Woods / Mellon
The 1928 $1,000 is far rarer than those dated 1934.
Large denomination notes such as this were primarily intended for large transactions between banks and financial institutions, as the general public rarely handled such high denominations.
In 1928, $1,000 had the equivalent purchasing power of approximately $17,000 to $18,000 in 2024 dollars, adjusted for inflation.
To put this into perspective:
1. Housing:
• The average cost of a home in 1928 was around $2,500 to $3,000, meaning a $1,000 note could cover roughly a third to half of a home’s cost.
2. Automobiles:
• A new Ford Model A, a popular car in 1928, cost about $385, so a $1,000 note could buy two cars and leave you with change.
3. Daily Essentials:
• A loaf of bread cost around 10 cents, meaning $1,000 could buy 10,000 loaves of bread.
• Gasoline averaged around 21 cents per gallon, so $1,000 could purchase nearly 4,800 gallons of fuel.
4. Education:
• Annual tuition at prestigious universities like Harvard was about $400, so $1,000 could cover over two years of tuition.
5. Labor Wages:
• The average annual salary for a worker was approximately $1,300, meaning $1,000 was nearly a year’s wages for many people.
This particular note has great paper - the white remains reasonably bright and the intaglio colours remain vivid. The note exhibits a reasonable degree of folding, there is a decent tear in the top edge that runs well into the design.
This is an affordable example of a truly rare and historic US note.
SKU: 214361
Browse our catalog of World Banknotes below:
Related Articles
Others Also Bought
More From This Category
I've taken my coins to Andrew a few times. Him and his staff are very nice people. Andrew is honest and down to earth. 👍
I have purchased several bulk lots of world coins from Sterling & Currency over the last few years. Read more...
I live on East Coast but prefer dealing with Andrew on the West due to his integrity, knowledge and prices, Read more...
Just purchased a 1966 blue case decimal mint set. Andrew gave me a ring to ensure it had arrived and provided Read more...
.jpg)
About the Sterling & Currency Team
The team at Sterling & Currency is a family affair – small but growing. Andrew Crellin is the main dealer in the business, click here to read this credentials and how he started with the Perth Mint; spent a decade in Sydney working with two leading dealers and relocated back to Perth in 2006.
Jo is our budding Numismatist, Chief Event officer, Photographer and Packing Extraordinaire. Natalie is our media creator and photographer. Nicole manages the accounts and is part of the Packing Team. A myriad of important duties are carried out by the team that include photography, website updates, office admin, and chocolate eating.
Ruby the Ridgeback quite frankly has learned nothing about coins, however contributes by barking at anyone wearing hi-viz.
We're Always Buying!
We need to buy tens of thousands of dollars worth of coins and notes each and every week of the year.
If you'd like to turn all or part of your collection into cash, get in touch with our expert staff and we'll be happy to start working on a deal with you.
Australian Gold Coins
We have extensive experience in handling all Australian gold soveriegns and halves, from the Adelaide Pounds of 1852 right through to the last coins of George V of 1931. All of the Australian gold coins in our online shop are described in detail with high resolution images.
Coins
At Sterling & Currency, we specialize in handling Australian coins dating from our nation's settlement in 1788 through to the introduction of decimal currency in 1966. We have an extensive range in our online store of Australian gold, copper and silver coins.
Decimal Coins
The Australian proof and UNC coins struck by the Perth Mint and the Royal Australian Mint are the most accessible coins available to collectors today. If you're not able to find a particular coin that you're keen to add to your collection, let us know and we'll be contact you when it becomes available.