💵 1928 $500 Federal Reserve Note | Fr.2200-J Kansas City | PCGS Very Fine 35

💵 1928 $500 Federal Reserve Note | Fr.2200-J Kansas City | PCGS Very Fine 35 | Rare High-Denomination Bill

The 1928 $500 Federal Reserve Note, cataloged as Friedberg 2200-J and issued from the Kansas City Federal Reserve Bank, is a highly coveted piece of American currency history. With a PCGS Very Fine 35 grade, this note strikes a perfect balance between collectible condition and investment-grade rarity. As part of the first small-size series of high-denomination U.S. notes, it represents a powerful combination of scarcity, prestige, and numismatic value.

🏛️ Historical Background of the 1928 $500 Federal Reserve Note

The Series of 1928 marked a turning point in U.S. paper money, as it introduced the small-size format (6.14 x 2.61 inches) that is still in use today. High-denomination notes—including the $500, $1000, $5000, and $10,000 bills—were printed for bank-to-bank transactions, especially for transferring large sums before the age of digital banking.

The $500 bill wasn’t commonly seen in public circulation, and by 1969, the Treasury had discontinued all high-denomination notes due to declining use. Most were destroyed, making surviving examples like this extremely rare—especially in collectible condition.

This 1928 $500 Federal Reserve Note, cataloged as Fr.2200-J, is a highly collectible and historically significant high-denomination U.S. banknote. Issued by the Kansas City Federal Reserve Bank, this note has been professionally graded PCGS Very Fine 35, offering strong visual appeal with moderate circulation and well-preserved detail.

🔍 Fr.2200-J Kansas City District

Each 1928 $500 note was issued by one of the twelve Federal Reserve Banks. The “J” designation represents the Kansas City District, which is one of the rarer issuing banks for high-denomination notes.

Key identifiers:

• District Letter: J (10th District – Kansas City)

• Seal Color: Green Treasury Seal

• Serial Prefix: Typically begins with “J”

• Plate and District Numbers: Unique to each issuing bank

Collectors often seek out less common districts like Kansas City, as notes from these banks tend to have lower print runs and fewer surviving examples.

🖼️ Design Features

• Obverse (Front):

  • Features a bold, centered portrait of President William McKinley, the 25th President of the United States.

  • The phrase: “This note is legal tender for all debts, public and private.”

  • Green Treasury Seal to the right, with serial numbers in green ink.

• Reverse (Back):

  • Displays the large denomination “500” in each corner and the words “Five Hundred Dollars” in prominent lettering.

  • Clean, symmetrical layout with ornate scrollwork.

🧾 Grading: PCGS Very Fine 35

A PCGS VF 35 graded note offers:

• Light to moderate circulation wear

• Strong paper integrity with solid margins

• Clear details and vibrant ink tones

• Minor folds or handling marks, but no tears, stains, or major distractions

This is a choice grade for serious collectors, offering affordability while still maintaining excellent eye appeal.

💰 Estimated Value of a 1928 $500 Kansas City Note (PCGS VF 35)

Note: Kansas City notes often trade at a premium due to relative scarcity.

📈 Why Collect the 1928 $500 Federal Reserve Note?

• 💎 High-Denomination Prestige – Owning a $500 note is a statement piece in any collection.

• 🏛️ Historical Rarity – Discontinued for over 50 years and mostly destroyed.

• 🧭 District Rarity – Kansas City issues are scarcer than New York or Chicago.

• 📜 Depression-Era Artifact – A tangible connection to 20th-century U.S. economic history.

• 📈 Investment Grade – Strong appreciation trends in recent auctions.

📝 Collector Tips

• 🔐 Store safely in archival-grade currency sleeves or holders.

• 🔍 Verify serials and plate numbers for additional rarity insights.

• 🏷️ Compare auction results for the same district and grade to assess value.

• 📸 Photograph and document your note for insurance and provenance.

✅ Final Thoughts

The 1928 $500 Federal Reserve Note (Fr.2200-J) from Kansas City, graded PCGS Very Fine 35, is a trophy-level note for high-denomination collectors. It offers a rare glimpse into the era when U.S. currency truly reflected the nation’s economic power and paper money carried immense physical value. Whether you’re looking to diversify your numismatic portfolio or acquire a centerpiece for your collection, this bill checks every box for scarcity, historical value, and investment potential.

The 1928 $500 bill is among the most coveted small-size high-denomination U.S. notes. Unlike the more commonly seen 1934 series, the 1928 version is markedly rarer, especially by district. This Fr.2200-J Kansas City issue is particularly hard to find in problem-free, certified VF+ condition, making it a top-tier acquisition for advanced currency collectors or investors in rare American paper money.

🛒 Don’t miss this rare opportunity to own a piece of American financial history!