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Gold certificates were first authorized under the Legal Tender Act of 1863, but unlike the United States Notes also authorized, they apparently were not printed until 1865. The need for them arose from the limitations of the United States Notes.
Gold certificates were another form of representative paper money issued by the United States Treasury from 1865 to 1933 and redeemable in gold. While the United States observed a gold standard, the certificates were a convenient way to pay in gold.
The very first 1928 Silver Certificate issued (i.e., Serial number 1). The Series of 1928 was the first issue of small-size currency printed and released by the U.S. government. These notes, first released to the public on July 10, 1929, were the first standardized notes in terms of design and characteristics, featuring similar portraits and ...
Series 1934 gold certificates ($100; $1,000; $10,000; and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 (see United States Executive Order 6102).
Gold certificates were issued from 1865 through 1934 and were redeemable in gold coin. Following the 1933 ban on gold ownership in the United States, they were recalled to be redeemed for United States Notes. They were issued in large size through 1929 and in small size thereafter.
1882: The first $50 gold certificate with a portrait of Silas Wright was issued. The reverse was printed in orange ink and featured a bald eagle perched atop an American flag . 1891: The obverse of the $50 Silver Certificate was slightly revised and the reverse was completely changed.
Federal Reserve Bank Notes are banknotes that are legal tender in the United States issued between 1915 and 1934, together with United States Notes, Silver Certificates, Gold Certificates, National Bank Notes and Federal Reserve Notes.
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $487 in 2023) per troy ounce.
United States Note. A United States Note, also known as a Legal Tender Note, is a type of paper money that was issued from 1862 to 1971 in the United States. Having been current for 109 years, they were issued for longer than any other form of U.S. paper money other than the currently issued Federal Reserve Note.
The Specie Payment Resumption Act of January 14, 1875 was a law in the United States that restored the nation to the gold standard through the redemption of previously unbacked United States Notes and reversed inflationary government policies promoted directly after the American Civil War. The decision further contracted the nation's money ...