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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.
Two centuries later, the gold certificates began being issued in the United States when the US Treasury issued such certificates that could be exchanged for gold. The United States Government first authorized the use of the gold certificates in 1863.
The standard certification awards given consist of Gold, Platinum, and sometimes Diamond awards, in ascending order; the UK also has a Silver certification, ranking below Gold. In most cases, a "Multi-Platinum" or "Multi-Diamond" award is given for multiples of the Platinum or Diamond requirements. Many music industries around the world are ...
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.
The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury.
Under the currency reforms enacted by Roosevelt, the federal government owns the gold and holds it as security for $11 billion in gold certificates issued, in book-entry form, to the Federal Reserve Banks.