Description and research notes
This 1928G 2 Dollars Legal Tender Note (Friedberg 1508*, A Block) is a high-grade Star Replacement example from the first small-size red seal issue of U.S. currency. The star prefix before the serial number *03707599A identifies it as a replacement printed to substitute for a defective note detected during Bureau of Engraving and Printing inspection — an early quality control process that makes such notes inherently scarcer than standard production pieces.
The 1928 series marked a pivotal design transition in American paper money. For the first time, the small-size format standardized dimensions across all denominations while preserving key artistic elements from the large-size issues. Thomas Jefferson’s engraved portrait, derived from Gilbert Stuart’s neoclassical rendering, dominates the face, flanked by intricate lathe-work and geometric scroll patterns. The bright red Treasury seal and serials create a dramatic contrast against the black intaglio engraving, establishing the iconic 'red seal' aesthetic that became synonymous with Legal Tender Notes for decades.
The 'G' sub-series represents the final iteration of the original 1928 issue, printed under the signatures of Ivy Baker Priest’s predecessors, Georgia Neese Clark and John W. Snyder. It closed out the prewar phase of small-size United States Notes, just before widespread inflation and policy changes permanently shifted currency designs in the 1950s. Star replacements from this series are notably elusive due to limited replacement sheet runs and tight quality thresholds enforced by BEP inspectors at the time.
Certified PMG 66 EPQ Gem Uncirculated, this note exhibits pristine margins, rich red overprints, and fully original paper brightness. The EPQ designation affirms exceptional paper originality and unaltered embossing — critical in confirming its untouched condition. The depth of engraving in Jefferson’s portrait and the even color saturation across the overprint layers showcase the technical precision of early small-size intaglio work.
This 1928G Red Seal Star Note is more than a condition rarity — it embodies the intersection of artistry, economic history, and industrial modernization in U.S. printing. For collectors focused on early small-size currency, it represents a textbook example of how the Bureau’s mechanical discipline and design refinement coalesced during one of the most important transitional decades in American numismatic history.