- Circulated condition: A 1928 $100 bill in circulated condition, meaning it has been in general circulation and shows signs of wear, can have a value of several thousand dollars. The exact value will depend on the grade of the note, with higher grades commanding higher prices.
- Uncirculated condition: An uncirculated 1928 $100 bill, meaning it has never been in general circulation and is in pristine condition, can have a value of significantly more than a circulated note. Uncirculated notes can sell for tens of thousands of dollars or even more, depending on their grade and rarity.
- Errors or unique characteristics: Notes with errors or unique characteristics, such as misprints, overprints, or unusual serial numbers, can have a significantly higher value than notes without these features.
Overall, due to its rarity and historical significance, a 1928 $100 Federal Reserve Note with a red seal from the Federal Reserve Bank of Chicago is a valuable item that is highly sought after by collectors. It is recommended to consult with a professional coin or currency dealer or appraiser to obtain a precise valuation of the note, especially if it is in uncirculated condition or has any unique characteristics.