-
Inventory:
1 In Stock
- Product ID: 56128
Checkout
The 1934B $20 Federal Reserve Note graded Choice Uncirculated 63EPQ by PMG is an outstanding example of mid-20th-century U.S. currency issued during the later phase of the Great Depression. Part of the long-running Series 1934, the “B” designation signifies a signature change—specifically the pairing of Treasury Secretary Fred M. Vinson with Treasurer of the United States Georgia Neese Clark. As the final iteration of the 1934 series, the 1934B notes mark a concluding chapter in America’s monetary transition from gold-backed to fiat currency. This note, certified by PMG with the EPQ (Exceptional Paper Quality) designation, reflects strong visual appeal, full originality, and highly collectible status in Choice Uncirculated condition.
The $20 denomination was a critical component of U.S. commerce in the 1930s and 1940s. It was widely used for business transactions, interbank settlements, and high-value consumer purchases. By the time the 1934B notes were released, America had largely stabilized its monetary system under President Franklin D. Roosevelt’s New Deal programs, and the note’s features reflect this new economic reality. While earlier notes had promised redemption in gold, the 1934 series and its subseries, including the 1934B, feature the revised legal tender statement: “This note is legal tender for all debts, public and private, and is redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank.” This phrase indicates the note’s role in the emerging fiat system where redemption in precious metals was no longer offered to the public.
The obverse of the 1934B $20 note features a detailed portrait of Andrew Jackson, the seventh President of the United States, engraved in classic style and facing left. Jackson is framed by an ornamental border that reflects early 20th-century engraving techniques. To the left of the portrait is the black Federal Reserve District seal, and to the right is the green U.S. Treasury seal. Serial numbers in green ink are printed in the upper right and lower left corners, flanking the portrait diagonally. The note’s denomination is displayed prominently in each corner and at the bottom center. In PMG 63EPQ grade, these design features remain crisp, fully legible, and well-centered, with vivid ink and clean paper free of folds or significant distractions.
The reverse side of the note showcases the White House in Washington, D.C., as viewed from the south lawn. This detailed architectural rendering is framed by bold inscriptions reading “THE UNITED STATES OF AMERICA” at the top and “TWENTY DOLLARS” at the bottom. The surrounding borders are simple but elegant, with corner numerals and subtle flourishes adding a classical balance. In Choice Uncirculated 63EPQ condition, the reverse design exhibits strong clarity and definition, with rich green coloration and no signs of wear, discoloration, or paper compromise.
PMG’s grade of 63EPQ—Choice Uncirculated with Exceptional Paper Quality—signifies a note that has never been circulated, but may exhibit minor handling such as a soft corner or very slight margin shift. The EPQ designation is especially important, as it certifies that the note retains its original paper texture, embossing, and brightness. Notes without EPQ may have undergone pressing, cleaning, or chemical alteration, which reduces their appeal to serious collectors. In contrast, a 63EPQ note is considered a strong representation of quality and originality just below the Gem Uncirculated tier, making it both collectible and more affordable than 65+ grade examples.
The 1934B $20 Federal Reserve Notes were printed in relatively lower quantities compared to the original 1934 and 1934A series, and they were issued by all 12 Federal Reserve Banks. However, because they represent the final subseries before the release of the 1950 redesign, they are collected by both type and district specialists. The Clark–Vinson signature combination also makes them historically interesting, especially given Georgia Neese Clark’s status as the first woman to serve as Treasurer of the United States—a milestone in the nation’s financial history.
As a collectible, the 1934B $20 holds appeal across several dimensions. It is part of the last series to feature large, centered portraits and the wide margins that typify early small-size notes. These design elements were later streamlined in the 1950 and 1963 series as part of security and modernization updates. Additionally, its historical context during the late Depression and immediate post-war years makes it a meaningful artifact, encapsulating a time when America’s economy was rebuilding and the monetary system was adapting to a post-gold era.
Collectors value Choice Uncirculated 1934B $20 notes with EPQ for their strong visual impact and certified quality. They serve well in Federal Reserve district sets, high-grade type collections, and historical currency portfolios focused on transitional eras. Because many 1934B notes entered circulation and were heavily used, well-preserved examples in 63EPQ and above are increasingly hard to find. The grade offers a perfect balance between affordability and top-end appeal, avoiding the price premiums associated with 65+ notes while still delivering Gem-like characteristics and strong market desirability.
The Certified 1934B $20 Federal Reserve Note graded 63EPQ by PMG is a collector-grade example of a historic and aesthetically pleasing banknote. With its brilliant ink, sharp engraving, and untouched paper quality, it serves as both a tangible piece of U.S. economic history and a beautiful addition to any currency collection. As the final version of the 1934 series and a reflection of post-gold standard monetary policy, this note holds a distinct place in American numismatics—and in 63EPQ condition, it shines with integrity and collector appeal.