Census Data on U.S. Small-Size Varieties & More
The 1928 $2 Legal Tender notes were printed in eight different series, 1928 to 1928G, and encompassed five different blocks, A-A to E-A, plus Stars. This series offered several tough and rare varieties to collect. Some of these varieties include notes without backplate serial numbers engraved, Mules with macro backplates, a tough regular Non-Mule block (1928D B-A Block) printed when micro backplates were heavily used, a newly discovered and currently unique Mule block with micro backplates (1928D D-A Block), and some of the toughest small-size Star notes.
The table below shows the blocks in which each series was printed, and the total number of notes it would take to complete a full series block set (without rare/scarce varieties).
During the Great Depression, there was a change made to the obligation (and inner border) printed on the 1928C series plates from the original obligation seen on the 1928, 1928A, and 1928B series plates. Since this change was done on the new 1928C series plates, it didn't create any varieties. Otherwise, the main design didn't change throughout the eight 1928x series. More information on the Legal Tender obligation change and other changes made during the Great Depression.
1928-1928B Series
1928C-1928G Series
This series also had Mule varieties printed over two different series, 1928C and 1928D. A "Mule" is created when a note is printed with an older micro-sized plate serial number on one side and a macro-sized plate serial number on the other. A Mule is not specific to Legal Tender or the $2 denomination... any note with a macro-sized plate number (newer) on one side and a micro-sized plate number (older) on the other creates a Mule.
​
Micro-size face plate serial numbers were used for the 1928, 1928A,1928B, and 1928C series (up to FP #181) $2 Legal Tender along with their corresponding backs with micro-size plate serial numbers (BP #288 and lower). With the 1928D series, there was a change to a macro-size plate serial number for the face (FPs #182-401), and a change had already been made producing macro-size plate number back plates (BP #289 and higher) as well. 1928C series Mules are created when a 1928C face plate (micro-size) was mated to a sheet printed with a newer macro-size BP. And the opposite is true for 1928D series Mules, in which a 1928D face plate (macro-size) was mated to a sheet printed with an older micro-sized BP.
Micro-size
Face Plate
Macro-size
Face Plate
Micro-size
Back Plate
Macro-size Back Plate
Related SPMC "Paper Money" Journal Articles
"Legal Tender Series of 1928 Non-Star Serial Number Ranges" (requires SPMC membership)
March/April 2023 - Whole #344; pgs 100-110; Peter Huntoon
​
"First Serials on Legal Tender 1928 United States Notes"
July/Aug 2015 - Whole #298; pgs 190-193; Jamie Yakes
​
Articles covering Census Project varieties are linked on their separate pages
$2 Legal Tender Census Projects
This project is currently only focused on the notes listed below, but may expand to cover others in the future.
Mules/Non-Mules
​
​
Series Data & Serial Numbers
Serial number delivery dates and a Series-Block Matrix can be found in the File Repository
Explanation of Terms
Dates
First Printing - The first date that a series face plate was sent to press.
Last Printing - The last date that a series face plate was used at press.
Delivered to BEP Vault - The dates when notes were recorded as being delivered to the BEP vault after having received serial numbers.
Serial Numbers
Official Low or High - The official low and high serial numbers printed for a given type based on data recorded by Bureau of Engraving and Printing employees.
Observed Low or High - The lowest or highest serial number reported by the numismatic community for a given series. The sources for observed serial numbers include auction archives, eBay listings, Track & Price (only verified serials), community forums, Facebook groups, numismatic publications (including catalogs and older reference guides), etc., or have been reported to or independently verified by the Paper Money Project. Due diligence has been taken to verify the accuracy of the observed serials provided.
⬇ - New observed low serial number.
⬆ - New observed high serial number.
Notes Printed & Ranges
Estimated Printed - The estimated printed represents the total of incomplete notes printed for a type. Those data are not official quantities of notes finished with serial numbers. Chuck O’Donnell first provided estimated amounts of notes printed in his Standard Handbook of United States Modern Paper Money (Krause Publications). Dean Oakes and John Schwartz later carried those data into the Standard Guide to Small-Size U.S. Paper Money (Krause Publications).
O’Donnell compiled and calculated the totals from the number of sheets listed on plate summary cards kept by the Bureau of Engraving and Printing (BEP). The BEP maintained plate summary cards for intaglio plates to record data such as dates when a plate was started, certified, and canceled, and the number of sheets printed from it. Absent official BEP serial number records for a given type, estimated printed provide the best proxy for how many of that type could have been serial numbered.
Known Range - The number of serials between the low observed and high observed serial numbers and can extend across multiple blocks. This range will exclude serial numbers reported from "Late-Used Sheets", which fall well outside of the expected range, usually by more than a year, and will be listed separately. This range does not represent the number of notes printed or released and only occasionally includes official low or high serials.
Overlapping Range - It was common practice for the B.E.P. to use whatever face plates were current to fulfill an order. This meant they continued to use faces until they wore out and often mixed production from two different series. When this happened, spans of serial numbers got applied to sheets of both series. It is normal, then, to find overlaps in the observed and official serial number ranges for consecutive series (such as 1928 and 1928A $2 United States Notes). Changeover Pairs (COP), where two notes from different series or types are serial numbered consecutively, thus a change from one series or type to another, can also be found.
Sources
SSG = Standard Guide to Small-Size U.S. Paper Money (10th Ed., 2011; Schwartz/Lindquist)
PMP = Paper Money Project census data
HA = Heritage Auctions
SB = Stack's Bowers Auctions
LK = Lyn Knight Auctions
eB = eBay
FB = Facebook
Series 1928 - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Tate / Mellon
First Printing:
Last Printing:
February 4, 1929
June 3, 1930
Fr# 1501 - Regular Notes
Face Plates:
Back Plates:
#2 through #103 (micro); #1 (master) not used
#1 and higher (micro)
Serial Numbers
Delivered to BEP Vault: 1929 - 1930
Late-Used Sheet Note: 1933
Blocks
Official Low
Official High
Estimated Printed
A00 000 001A
*00 000 001A
Not Available
Not Available
A-A
*-A
55,889,424
Blocks
Observed Low
Observed High
Known Range
A-A
A-A
*-A
A00 000 006A
Late-Used Sheet
*00 000 579A
A57 390 980A ⬆
A96 520 744A
*00 688 584A
57,930,974Unique
688,005
⬆ = New observed high serial number reported by Larry Thomas - 03/09/2024
Fr# 1501nbp - No Back Plate #
Back Plate:
Missing
Serial Numbers
Delivered to BEP Vault: 1929 - 1930
Blocks
Observed Low
Observed High
Known Range
A-A
*-A
A19 654 169A
*00 383 684A
A46 594 739A
*00 441 810A
26,940,570
58,126
See the 1928x $2 No Back Plate # Census page for reported serials and additional information.
Series 1928A - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Woods / Mellon
First Printing:
Last Printing:
May 15, 1930
July 14, 1933
Fr# 1502 - Regular Notes
Face Plates:
Back Plates:
#4 through #193 (micro); #1 (master), #2 & #3 not used
#1 and higher (micro)
Serial Numbers
Delivered to BEP Vault: 1930 - 1934
Blocks
Official Low
Official High
Estimated Printed
Not Available
Not Available
Not Available
Not Available
A-A - B-A
*-A
46,859,336
Blocks
Observed Low
Observed High
Known Range
A-A - B-A
*-A
A50 969 839A ⬇
*00 718 621A
B08 965 670A
*01 055 383A
57,995,831
336,762
⬇ = New observed low serial number reported by Larry Thomas - 02/10/2024
Fr# 1502nbp - No Back Plate #
Back Plate:
Missing
Serial Numbers
Delivered to BEP Vault: 1931
Blocks
Observed Low
Observed High
Known Range
A-A
*-A
A61 979 969A
NONE KNOWN
-
-
Unique
-
See the 1928x $2 No Back Plate # Census page for reported serials and additional information.
Series 1928B - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Woods / Mills
None
First Printing:
Last Printing:
January 23, 1933
July 17, 1933
Fr# 1503 - Regular Notes
Face Plates:
Back Plates:
#4 through #42 (micro); #1 through #6 not used
#1 and higher (micro)
Serial Numbers
Delivered to BEP Vault: 1933 - 1934
Blocks
Official Low
Official High
Estimated Printed
Not Available
Not Available
Not Available
Not Available
A-A - B-A
*-A
9,001,632
According to verified research, the break between 1928B Stars and 1928C Stars is *01 056 000A / *01 056 001A
Blocks
Observed Low
Observed High
Known Range
A-A - B-A
*-A
A86 398 443A
*00 942 054A
B09 004 381A
*01 053 286A
22,605,938
111,232
Series 1928C - Red Seal
Layout:
Signatures:
​
Varieties:
First Printing:
Last Printing:
April 17, 1934
February 12, 1940
Fr# 1504 - Regular Notes
Face Plates:
Back Plates:
#1 through #181 (micro); #56 through #75 not used
#288 and lower (micro)
Serial Numbers
Delivered to BEP Vault: 1934 - 1941
Blocks
Official Low
Official High
Estimated Printed
B09 008 001A
Not Available
Not Available
Not Available
B-A - C-A
*-A
86,584,008
According to verified research, the break between 1928B Stars and 1928C Stars is *01 056 000A / *01 056 001A
Blocks
Observed Low
Observed High
Known Range
B-A - C-A
*-A
B09 660 323A
*01 062 930A
C25 426 677A
*02 049 788A
115,766,354
986,858
Fr# 1504m - Mules (micro/macro)
Face Plates:
Back Plates:
#1 through #181 (micro); #56 through #75 not used
#288 and higher (macro); #289-#294 observed
Serial Numbers
Delivered to BEP Vault: 1939 - 1940
Blocks
Observed Low
Observed High
Known Range
B-A - C-A
*-A
B97 675 354A
NONE KNOWN
C04 103 686A
-
6,428,332
-
See the 1928C $2 LT Mules Census page for reported serials and additional information.
Series 1928D - Red Seal
Layout:
Signatures:
​
Varieties:
Scarce Blocks:
12-subject
Julian / Morganthau
B-A Block Non-Mules
First Printing:
Last Printing:
March 13, 1939
May 27, 1946
Fr# 1505 - Regular Notes
Face Plates:
Back Plates:
#182 through #401 (macro)
#289 and higher (macro)
Serial Numbers
Delivered to BEP Vault: 1939 - 1946
Blocks
Official Low
Official High
Estimated Printed
Not Available
Not Available
Not Available
Not Available
B-A - D-A
*-A
146,381,364
Blocks
Observed Low
Observed High
Known Range
B-A - D-A
*-A
B97 269 954A
*01 869 865A
D35 923 578A
*03 215 854A
138,653,624
1,345,989
See the 1928D $2 LT B-A Block Non-Mules Census page for reported serials
Fr# 1505 - Mules (macro/micro)
Face Plates:
Back Plates:
#182 through #401 (macro)
#288 and lower (micro)
Serial Numbers
Delivered to BEP Vault: 1939 - 1940
Late-Used Sheet D-A Block Mule: 1944
Blocks
Observed Low
Observed High
Known Range
B-A - C-A
D-A
*-A
B86 933 784A
Late-Used Sheet
*01 815 317A
C62 022 356A
D08 430 054A
*02 619 482A
75,088,572
Unique
804,165
See the 1928D $2 LT Mules Census page for reported serials and additional information
Series 1928E - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Julian / Vinson
​
None
First Printing:
Last Printing:
December 26, 1945
September 17, 1946
Fr# 1506 - Regular Notes
Face Plates:
Back Plates:
#403 through #414 (macro)
#289 and higher (macro)
Serial Numbers
Delivered to BEP Vault: 1946 - 1947
Blocks
Official Low
Official High
Estimated Printed
D29 712 001A
Not Available
Not Available
Not Available
D-A
*-A
6,480,000
Blocks
Observed Low
Observed High
Known Range
D-A
*-A
D29 739 375A
*03 212 775A
D40 156 288A
*03 227 489A
10,416,913
14,714
Series 1928F - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Julian / Synder
​
None
First Printing:
Last Printing:
September 12, 1946
December 9, 1949
Fr# 1507 - Regular Notes
Face Plates:
Back Plates:
#440 through #462 (macro)
#289 and higher (macro)
Serial Numbers
Delivered to BEP Vault: 1946 - 1950
Blocks
Official Low
Official High
Estimated Printed
D36 192 001A
Not Available
Not Available
Not Available
D-A
*-A
42,360,000
Blocks
Observed Low
Observed High
Known Range
D-A
*-A
D36 193 255A
*03 236 520A
D82 673 798A
*03 647 339A
46,480,543
410,819
Series 1928G - Red Seal
Layout:
Signatures:
​
Varieties:
12-subject
Clark / Synder
​
None
First Printing:
Last Printing:
December 1949
February 1953
Fr# 1508 - Regular Notes
Face Plates:
Back Plates:
#483 through #516 (macro)
#390 and lower (macro)
Serial Numbers
Delivered to BEP Vault: 1950 - 1953
Blocks
Official Low
Official High
Estimated Printed
D78 552 001A
*03 648 001A
E30 760 000A
*04 152 000A
D-A
*-A
< 52,208,000
504,000
Blocks
Observed Low
Observed High
Known Range
D-A
*-A
D78 616 836A
*03 651 150A
E30 740 955A
*04 139 566A
52,188,954
488,416