U.S. Gold Certificates
U.S. Gold Certificates were first printed in 1865 as a demonstration by the government that it had enough gold coinage to back the currency in circulation. Starting in 1870, the designs were generally similar to Federal Reserve notes: both had the same portraits for the same dollar amount (for instance, Grant on the $50 bill and certificate, Franklin on the $100 bill and certificate).
However, gold certificates, rather than being green, were black on the front and orange on the back. The first series of gold certificates was issued on November 13, 1865. In 1928, the gold certificates were issued in a smaller size, with green backs (like Federal Reserve notes) instead of the orange backs of the larger certificates.
In 1933, gold certificates became not only worthless but illegal to hold. The federal government went off the gold standard on June 5; thus, gold certificates were no longer redeemable. Anyone who held a certificate was required to return it to the Treasury.
In April 1964, the government declared it legal to hold gold certificates, although they were purely collector’s items and could not be redeemed. Now collectors can search for issues from 1865, 1870, 1871, 1875, 1882, 1888, 1900, 1903-15, 1922, or 1928.
The private issue 1934 note was for Federal Reserve use only, and even today private collectors cannot legally own it. U.S. gold certificates, though they can’t get you any gold, are a valuable addition to any collection.
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