Check out this $20 bill I got from the bank awhile ago.....

[PsychoAndy]

Originally posted by: FrustratedUser
Can someone explain what 'Silver Certificate' and 'Gold Certificate' means?

Silver = redeemable towards an equivalent amount of silver
Gold = redeemable towards an equivalent amount of gold

 

[FrustratedUser]

Originally posted by: PsychoAndy

Originally posted by: FrustratedUser
Can someone explain what 'Silver Certificate' and 'Gold Certificate' means?

Silver = redeemable towards an equivalent amount of silver
Gold = redeemable towards an equivalent amount of gold

Thank you but I still don't understand.
I can go and buy $20 worth of gold with an ordinary $20 bill or even quarters if I like.
Maybe that was not the case in the old days??

 

[Led Zeppelin]

Originally posted by: FrustratedUser
Can someone explain what 'Silver Certificate' and 'Gold Certificate' means?

Silver Certificates

 

[Led Zeppelin]

Originally posted by: rahvin
You realize that by placing a US Federal Reserve note in a scanner that you broke Federal Conterfieting laws? I'm not sure if it's a violation of additional laws to post said scan to the internet.

BTW I'm not joking, the secret service takes this stuff very very seriously.

Someone Call The FBI !!!!!!!


Oh wait, they are the Feds....

 

[rgwalt]

Hang on to it in case you ever invent a time machine and go back in time to the 30's. Today's money would be out of place in that period, and wouldn't be accepted. Even using one of the old style bills could reveil you as someone from the future, if you got the date wrong. You could bring back gold with you to use as currency, though gold bars/coins are hard to come by these days.

I think I've said enough for now...

Ryan

 

[kranky]

Originally posted by: FrustratedUser

Originally posted by: PsychoAndy

Originally posted by: FrustratedUser
Can someone explain what 'Silver Certificate' and 'Gold Certificate' means?

Silver = redeemable towards an equivalent amount of silver
Gold = redeemable towards an equivalent amount of gold

Thank you but I still don't understand.
I can go and buy $20 worth of gold with an ordinary $20 bill or even quarters if I like.
Maybe that was not the case in the old days??

When most US coins were made of silver or gold, people didn't want to accept paper money because it had no intrinsic value. There were lots of occasions where paper money became worthless - the Confederate States of America paper money, and before that the Continental Currency (look up "shinplaster"). Why take a piece of paper when you could have actual silver or gold coins? So when they issued Silver Certificates and Gold Certificates, they made them like deposit slips - it said you could redeem the paper for the equivalent amount in either gold or silver coin. That helped get people to accept them.

In 1933 Roosevelt took the US off of the gold standard. Up until then, all the paper money issued was backed by an equivalent amount of gold in the US Treasury. Silver Certificates were still issued up until the late 1950's and were still redeemable in silver until 1963-4 when the value of silver rose. At that point, the US removed all the silver from new coins except for a token amount in the Kennedy half dollar (for a couple more years). When silver went up past $1/ounce, people lined up around the block at the US Treasury to redeem silver certificates for silver and made an instant profit. In 1964 (I believe) the government no longer would redeem silver certificates for silver. Since then, paper money is backed only by people's willingness to accept it.

 

[iam4u2nv]

Originally posted by: silverpig
It's kinda funny cause there are no bills from 1934 in circulation in Canada still... Heck, we're even phasing out the 1986 series now.

That is because you use junk paper and it would not last that long... hehehe
J/K