US $20 1934 Fr#2054-D★ Federal Reserve Note Star Note PMG 55 About Uncirculated EPQ

• Country: United States
• Denomination: $20 USD
• Series: 1934
• Catalog Reference: Fr#2054-D★
• District: Cleveland (D–4)
• Type: Federal Reserve Note
• Signatures: Julian–Morgenthau
• Certification: PMG 2290412-007
• Grade: About Uncirculated 55 EPQ
• Seal Type: Dark Green Seal (DGS)
• Serial Number: D00562998★
• Portrait: Andrew Jackson
• Printer: Bureau of Engraving and Printing (BEP)

A stunning $20 1934 Federal Reserve Note, cataloged as Fr#2054-D★, certified PMG About Uncirculated 55 EPQ (Exceptional Paper Quality). This desirable Star Note was issued by the Federal Reserve Bank of Cleveland (District 4) and features the vivid Dark Green Seal (DGS) that distinguishes early 1934 printings from later variations.

The note showcases a sharply engraved portrait of Andrew Jackson, the seventh President of the United States, framed by a complex border and balanced typography — a hallmark of U.S. currency design in the interwar period. The Star replacement symbol (★) in the serial number signifies that this note was substituted for a damaged sheet, making it scarcer than regular issues.

Graded PMG 55 EPQ, this example displays crisp paper, deep ink contrast, and original embossing with minimal handling — a premium representative of one of America’s most collected small-size $20 issues.

Background Information

The Series of 1934 Federal Reserve Notes followed the country’s departure from the gold standard, introducing subtle design and color variations to reflect the shift in monetary policy. Early 1934 issues were printed with a Dark Green Seal (DGS), later replaced by lighter tones in subsequent printings.

The Fr#2054-D★ variety, printed for the Cleveland Federal Reserve District, carries signatures of Julian–Morgenthau and the Star Note designation — a key feature for collectors of scarce replacement issues. The DGS variation enhances its historical and visual appeal, as these were produced in relatively limited numbers compared to later lighter-green notes.