Dollar gold certificate

Dollar gold certificate DEFAULT

Gold Certificate

What Is a Gold Certificate?

A gold certificate, issued as U.S. currency equivalents until 1934, proves ownership of a specific amount of gold.

Key Takeaways

  • The U.S. issued gold certificates that were identical in face value to their dollar denominations from 1879 until 1934 when the country abandoned the gold standard.
  • U.S. gold certificates now have only collectible value.
  • Gold certificates are still issued by some banks and other companies as proof of ownership of the stated amount of gold bullion.

Understanding Gold Certificate

When the U.S. dollar was tied to the gold standard, gold certificates were worth their face value in U.S. dollars and could be used as legal tender. Gold certificates are still issued to investors as proof of ownership of gold stored by a bank.

The U.S. abandoned the gold standard in 1933. Gold certificates issued by the U.S. Mint are now collectors' items. A gold certificate can be purchased on eBay for about $10-$200 or more depending on its age, rarity, and condition.

Gold certificates represent ownership of a quantity of gold, similar to the way that stock certificates represent an ownership share in a company. In the U.S., from about 1879 until they were phased out, the certificates were identical in value to the same denomination in U.S. currency.

Gold bullion is difficult to carry around or exchange for goods or services. Gold certificates made it practical to own and use gold. Today, gold certificates continue to be issued to investors as receipts that prove ownership of the stated amount of gold.

U.S. gold certificates resemble paper banknotes made in the same period with some distinguishing features. The designs varied over the years but most had bright orange-colored backs and a gold-colored U.S. seal on the front.

A $1,000 gold certificate printed in 1907, for example, has the denomination in all four corners on the face but is inscribed "IN GOLD COIN" below a portrait of Alexander Hamilton. It also has a gold seal and a gold serial number on the front, and the distinctive orange back.

Gold certificates were in general circulation in the U.S. until President Franklin D. Roosevelt removed the dollar from the gold standard in 1933. Since the value of the dollar itself was tied to the value of gold, between 1879 and the time they were phased out, the certificates were essentially a parallel currency and were technically exchangeable as such, although they were not often used in routine transactions.

A gold certificate proves ownership of a quantity of gold just like a stock certificate proves ownership of a share in a company.

Gold Certificates Today

Some banks and investment companies in the U.S. and abroad still issue gold certificates. These generally specify an amount in ounces. Their dollar value fluctuates with the market. That makes them an investment in precious metals rather than an investment in currency.

It is worth noting that this modern trade in gold certificates can be risky. If the company that issues the certificate goes under, the certificate is as worthless as a stock certificate for a bankrupt company.

Sours: https://www.investopedia.com/terms/g/goldcertificate.asp

U.S. Currency

 

$100,000 Gold Certificate

$100,000 Gold Certificate - Face
$100,000 Gold Certificate - Back

Series: 1934
Portrait: Woodrow Wilson
Back Vignette: The United States of America - 100,000 - One Hundred Thousand Dollars


The $100,000 Gold Certificate was used only for official transactions between Federal Reserve Banks and was not circulated among the general public. This note cannot be legally held by currency note collectors.

$500 Note (Blue Seal)
$500 Note (Blue Seal)
$500 Note (Green Seal)
$500 Note (Green Seal)
$1,000 Note (Blue Seal)
$1,000 Note (Blue Seal)
$1,000 Note (Green Seal)
$1,000 Note (Green Seal)
$5,000 Note (Blue Seal)
$5,000 Note (Blue Seal)
$10,000 Note (Blue Seal)
$10,000 Note (Blue Seal)
$10,000 Note (Green Seal)
$10,000 Note (Green Seal)
$100,000 Gold Certificate
$100,000 Gold Certificate
Sours: https://www.moneyfactory.gov/100000goldcertificate.html
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100,000 Dollars, Gold Certificate, United States, 1934

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Description (Brief)
One (1) 100,000 dollar note
United States, 1934
Obverse Image: President Wilson.
Obverse Text: 100,000 / THIS IS TO CERTIFY THAT THERE IS ON DEPOSIT IN THE TREASURY OF THE UNITED STATES OF AMERICA ONE HUNDRED THOUSAND DOLLARS IN GOLD PAYABLE TO BEARER ON DEMAND AS AUTHORIZED BY LAW / GOLD CERTIFICATE / THIS CERTIFICATE IS LEGAL TENDER IN THE AMOUNT THEREOF IN PAYMENT OF ALL DEBTS AND DUES PUBLIC AND PRIVATE / WASHINGTON, D.C. / SERIES OF 1934 / A00020109A / WILSON
Reverse Image: Geometric pattern.
Reverse Text: 100,000 / THE UNITED STATES OF AMERICA / ONE HUNDRED THOUSAND DOLLARS
Description
During the early 1930s, the United States and the rest of the industrialized world experienced an economic depression. In 1934, the United States continued its movement toward removing its currency from the gold standard. It even became illegal to possess gold coins or gold-based currency until Congress relented somewhat for collectors. The Gold Certificate Series of 1934 poses a slight puzzle since the United States was off the gold standard by 1934. The $100,000 note shown here was not intended for general circulation but was used as an accounting device between branches of the Federal Reserve. This $100,000 note was the highest denomination ever issued by the United States.
Location
Currently not on view
Object Name
gold certificate
date made
1934
depicted
Wilson, Woodrow
issuing authority
Bureau of Engraving and Printing
place made
United States
Associated Place
United States
Physical Description
paper (overall material)
Measurements
overall: 15.7 cm x 6.6 cm x.01 cm; 6 3/16 in x 2 19/32 in x in
ID Number
NU.78.5.807
accession number
1978.0941
catalog number
78.5.807
serial number
A00020109A
Credit Line
U. S. Department of the Treasury
See more items in
Work and Industry: National Numismatic Collection
Gold Certificates
Coins, Currency and Medals
Data Source
National Museum of American History

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1900 $10,000 Gold Certificate

What Is a Gold Certificate?

A Gold Certificate is a paper note or bill issued by the United States government that represents a specified claim for a particular dollar value of gold or gold bullion deposited in the United States Treasury. Unlike other notes issued by the United States government, these notes were issued as a convenience rather than a political or economic strategy. Therefore, a majority of the notes issued were of higher denominations.

History of the Gold Certificate

The first Gold Certificates were issued under the Banking Act of March 3, 1863. Generally, Gold Certificates are divided into two groups: large size and small size. Large size currency measured 3.125 x 7.4218 inches, and small size currency measured 2.61 x 6.14 inches. The following series were issued until production was suspended in 1934:

Large Size Denominations

  • Series 1865: $20, $100, $500, $1,000, $5,000, $10,000 
  • Series 1870-75: $100, $500, $1,000, $5,000, $10,000
  • Series 1882: $20, $50, $100, $500, $1,000, $5,000, $10,000
  • Series 1888: $5,000, $10,000
  • Series 1900: $10,000
  • Series 1905 & 1906: $20
  • Series 1907: $10, $1,000
  • Series 1913: $50
  • Series 1922: $10, $20, $50, $100, $500, $1,000

Small Size Denominations

  • Series 1928: $10, $20, $50, $100, $500, $1,000, $5,000, $10,000
  • Series 1934: $100, $1,000, $10,000, $100,000

Largest Note Ever

The $100,000 Gold Certificate is the largest paper currency note ever issued by the United States government. It was only used for monetary transfers between financial institutions and/or The Federal Reserve Bank. None were ever released to the general public. Therefore, it is illegal to own one.

Originally, paper money issued in the United States was printed and distributed by individual banks. If the bank failed, the notes became worthless. Eventually, people did not trust paper currency and demanded gold or gold coins to complete financial transactions. 

For large transactions, gold and gold coins proved to be bulky and difficult to transport. Additionally, transporting large amounts of gold was very risky because it was hard to conceal. Gold Certificates were created to restore trust in paper currency and facilitate larger financial transactions. Gold Certificates circulated widely alongside other paper currency throughout the United States for years. Because a majority of them were used to complete commercial transactions, many of them are still in good condition.

The Treasury Department maintained a large number of gold coins and gold bullion in their inventory to back these notes that were issued. When the United States was removed from the gold standard by President Roosevelt in 1934, he required that all citizens turn in their Gold Certificate for silver coins or replacement paper currency.

Are Gold Certificates Legal Tender Today?

Gold Certificates are no longer redeemable for gold coins or gold bullion. However, all gold certificates are considered legal tender and can be redeemed at any financial institution for their face value in equivalent current coin or paper money. However, if the Gold Certificate was redeemed, it was canceled by punching a series of holes in the note that spelled the word CANCELED. These notes are not redeemable at face value.

Free Money?

On December 13, 1935, a fire in the United States Post Office in Washington, D.C. triggered a series of events where postal workers were trying to save documents from the fire. A box of canceled Series 1900 $10,000 Gold Certificates were thrown out the window. The box burst open, and people scrambled to collect them. Much to their dismay, the canceled bills were worthless. Although they are still considered stolen property because they are worthless, the United States government does not prosecute anybody possessing them.

How Much Is a Gold Certificate Worth?

Many factors determine the value of a Gold Certificate. There were hundreds of different series and denomination combinations issued over the years. The following general rules and observations will help you determine the value of your Gold Certificate.

Denomination

The first step in determining the value of your Gold Certificate is to determine the note's denomination. This is also known as the face value. It is indicated by large numerals and words such as "One Hundred Dollars." Since Gold Certificates are still legal tender today, the value of any note will not be less than its face value or denomination if it is not canceled.

Series

Most people refer to this as the year or date. It is a type or class of currency that is associated with a particular year. Typically, series signifies a change in authorization or design on large size notes. For small size notes, it indicated a change in the signature combinations on the note's face. The same series date can be used for years if there is not a change in design or signature combinations. It is a common misconception that the year on the note is the year that it was printed.

Signatures

When paper currency was first printed in the United States, each note was signed by hand by an authorized individual or individuals. This was true for the Gold Certificates produced in the 1800s. As time progressed and thousands of notes were printed, it became a very burdensome task for high-ranking officials to sign thousands of dollar bills. 

When the United States federal government issued the first Gold Certificates in 1865, the authorized signatures included the Assistant Treasurer of the United States and Treasurer of the United States. These notes were signed by hand. However, later notes used imprinted signatures as part of the automated printing process. In 1928, the authorized signatures changed to the Treasurer of the United States and the Secretary of the Treasury.

Condition

Most importantly, the condition of the note should be taken into consideration. The better the condition of the note, the more valuable it will be. If the note has seen circulation and has been folded, torn, crumpled, washed, rolled, soaked, etc., it will be ranked at the bottom of the value scale. However, if a note has been carefully stored and preserved since the first day it rolled off the printing press, it will be prized by collectors and at the very top of the value scale. 

A grading scale very similar to that used for grading coins is also used for grading paper money. This scale is on a continuum from 1 through 70, where 70 is considered a perfect note and 1 is considered poor and barely identifiable. Other small change, such as paper money, are printed and not minted, and therefore notes that have not seen circulation are referred to as "Uncirculated" instead of "Mint State."

Serial Number and Star Notes

Finally, if the note has a fancy serial number or a star in it, these will also carry a premium numismatic value. For example, the following serial numbers are highly sought after by collectors of paper money:

  • All the same digits (222222222 or 555555555)
  • A repeating series of digits (123123123 or 585858585)
  • Same digits forwards and backward, also known as a radar note (123454321 or 785696587)
  • Very low numbers or very high numbers (000000001 or 999999999)

Are Gold Certificates in Circulation Today?

It is extremely rare to find Gold Certificates in circulation today. If they are found, they are usually well circulated and are worth only the face value of the note. However, if you do find a crisp uncirculated note, it may be worth a considerable premium. The best guidebook to determine the value of your notes is A Guide Book of United States Paper Money by Arthur L. and Ira S. Friedberg, published by Whitman Publishing.

Sours: https://www.thesprucecrafts.com/what-is-a-gold-certificate-5186772

Gold certificate dollar

Gold certificate

A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a U.S. paper currency (1863–1933) and a current meaning as a way to invest in gold.

Banks may issue gold certificates for gold that is allocated (non-fungible) or unallocated (fungible or pooled). Unallocated gold certificates are a form of fractional-reserve banking and do not guarantee an equal exchange for metal in the event of a run on the issuing bank's gold on deposit.[1] Allocated gold certificates should be correlated with specific numbered bars, although it is difficult to determine whether a bank is improperly allocating a single bar to more than one party.[2]

Historic U.S. gold certificates (1863–1933)[edit]

The gold certificate was used from 1863 to 1933 (although there is the rare 1934 issue) in the United States as a form of paper currency. Each certificate gave its holder title to a corresponding amount of gold coin at the statutory rate of $20.67 per troy ounce established by the Coinage Act of 1834. Therefore, this type of paper currency was intended to represent actual gold coinage. In 1933 the practice of redeeming these notes for gold coins was ended by the U.S. government and until 1964 it was actually illegal to possess these notes. (In 1964 these restrictions were lifted, primarily to allow collectors to own examples legally; however the issue technically converted to standard legal tender with no connection to gold.)

After the gold recall in 1933, gold certificates were withdrawn from circulation. As noted above, it was illegal to own them. That fact, and public fear that the notes would be devalued and made obsolete, resulted in the majority of circulating notes being retired. In general, the notes are scarce and valuable, especially examples in "new" condition.

The early history of United States gold certificates is somewhat hazy. They were authorized under the Act of March 3, 1863, but unlike the United States Notes also authorized, they apparently were not printed until 1865. They did not have a series date, and were hand-dated upon issue. "Issue" meant that the government took in the equivalent value in gold, and the first several series of gold certificates promised to pay the amount only to the depositor, who was explicitly identified on the certificate itself. The first issue featured a vignette of an eagle uniformly across all denominations. Several later issues (series 1870, 1871, and 1875) featured various portraits of historical figures. The reverse sides were either blank or featured abstract designs. The only exception was the $20 of 1865, which had a picture of a $20 gold coin.

From 1862 to 1879, United States Notes were legal tender and the dominant paper currency but were not convertible at face value into gold and traded at a discount. However some transactions, such as customs duties and interest on the federal debt, were required to be made in gold. Thus the early gold certificates were acceptable in some transactions where United States Notes were not, but were not used in general circulation due to their premium value. After 1879, the government was willing to redeem United States Notes at face value in gold, bringing the United States Notes into parity with gold certificates, making the latter also a candidate for general circulation.

The Series of 1882 was the first series that was payable to the bearer; it was transferable and anyone could redeem it for the equivalent in gold. This was the case with all gold certificate series from that point on, with the exception of 1888, 1900, and 1934. The series of 1888 and 1900 were issued to specific depositors, as before. The series of 1882 had the same portraits as the series of 1875, but a different back design, featuring a series of eagles, as well as complex border work.

Gold certificates, along with all other U.S. currency, were made in two sizes—a larger size from 1865 to 1928, and a smaller size from 1928 to 1934. The backs of all large-sized notes and also the small-sized notes of the Series of 1934 were orange, resulting in the nickname “yellow boys” or "goldbacks". The backs of the Series of 1928 bills were green, and identical to the corresponding denomination of the more familiar Federal Reserve Notes, including the usual buildings on the $10 through $100 designs and the less-known abstract designs of denominations $500 and up. With the 1934 issue, the promise to pay was amended with the phrase "as authorized by law", as redemption was now restricted to only certain entities. The phrase "in gold coin" was changed to "in gold" as the physical amount of gold represented would vary with changes in the government price. Both large and small size gold certificates feature a gold treasury seal on the obverse, just as U.S. Notes feature a red seal, silver certificates (except World War II Hawaii and North Africa notes) a blue seal, and Federal Reserve Notes a green seal.

Another interesting note is the Series of 1900. Along with the $5,000 and $10,000 of the Series of 1888, all 1900 bills ($10,000 denomination only) have been redeemed, and no longer have legal tender status. Most were destroyed, with the exception of a number of 1900 $10,000 bills that were in a box in a post office near the U.S. Treasury in Washington, D.C. There was a fire on 13 December 1935, and employees threw burning boxes out into the street. The box of canceled high-denomination currency burst open. Much to everyone's dismay, they were worthless. There are several hundred outstanding, and their ownership is technically illegal, as they are stolen property. However, due to their lack of intrinsic value, the government has not prosecuted any owners, citing more important concerns. They carry a collector value in the numismatic market and, as noted in Bowers and Sundermans' The 100 Greatest American Currency Notes, the only United States notes that can be purchased for less than their face value. This is the only example of "circulating" U.S. currency that is not an obligation of the government, and thus not redeemable by a Federal Reserve Bank. The note bears the portrait of Andrew Jackson and has no printed design on its reverse side.

Issue[edit]

Series and varieties[edit]

Series Value Features/varieties
1865

[nb 1]

$20, $100
$500, $1,000
$5,000
$10,000
Notes from this first issue are extremely rare in lower ($20 and $100) denominations. A single $1,000 and $5,000 are reported to exist in a government collection, and an issued $500 or $10,000 has never been seen.[5] In addition to the two engraved signatures customary on United States banknotes (the Register of the Treasury and Treasurer of the United States), the earlier issues of Gold certificates (i.e., 1865, 1870, 1875, and some 1882) included a third signature of one of the Assistant Treasurers of the United States (in New York or Washington, D.C.).[6] Known as a countersigned or triple-signature note, this feature existed for all Series prior to 1882 (and the first printing of the Series 1882).
1870–75 $100, $500
$1,000
$5,000
$10,000
Series 1870 notes introduced portraits to gold certificates. Both Series of 1870 and Series of 1875 are countersigned notes. Between the two series, the $100 is extremely rare, the $500, $1,000, and $10,000 are unique (in government collections), and the $5,000 is unknown.[5]
1882 $20, $50
$100, $500
$1,000
$5,000
$10,000
The Act of 12 July 1882 authorized denominations “not less than $20”.[7]
1888 $5,000
$10,000
Series 1888 notes were intended for bank use to balance accounts without having to transport large volumes of gold bullion or currency.[8] They have all been redeemed.[9]
1900 $10,000 Canceled -- Not legal tender. Several hundred notes exist and examples occasionally appear for sale. See above.
1905 $20
1906 $20
1907 $10
$1,000
1913 $50
1922 $10, $20
$50, $100
$500, $1,000

Complete United States gold certificate type set[edit]

Large[edit]

Value Issue Series Fr. Image Portrait Signature & seal varieties
20$20 1st 1865 Fr.1166b Image pending Vignettes of eagle with shield 1166b – Colby and Spinner – small red
100$100 1st 1865 Fr.1166c $100 Gold Certificate, Series 1865, Fr.1166c, with a vignette of an eagle and shield (left) and justice (bottom center).Vignette of eagle with shield 1166c – Colby and Spinner – small red
500$500 1st 1865 Fr.1166d
proof
$500 Gold Certificate, Series 1865, Fr.1166d, with a vignette of an eagle and shield (left) and justice (bottom center).Vignette of eagle with shield 1166d – Colby and Spinner – small red
1000$1,000 1st 1865 Fr.1166e
proof
$1,000 Gold Certificate, Series 1865, Fr.1166e, with a vignette of an eagle and shield (left) and justice (bottom center).Vignettes of eagle with shield, and justice with scales. 1166e – Colby and Spinner – small red
5000$5,000 1st 1865 Fr.1166f
proof
$5,000 Gold Certificate, Series 1865, Fr.1166f, with a vignette of an eagle and shield (left) and justice (bottom center).Vignettes of eagle with shield and female 1166f – Colby and Spinner – small red
10000$10,000 1st 1865 Fr.1166g
proof
$10,000 Gold Certificate, Series 1865, Fr.1166g, with a vignette of an eagle and shield (left) and justice (bottom center).Vignettes of eagle with shield 1166g – Colby and Spinner – small red
100$100 2nd & 3rd 1870–75 Fr.1166h $100 Gold Certificate, Series 1875, Fr.1166h, depicting Thomas Hart BentonThomas Hart Benton1166h – xxx and xxx – large red (1870)
1166m – Allison and New – large red (1875)
500$500 2nd & 3rd 1870–75 Fr.1166i $500 Gold Certificate, Series 1870, Fr.1166i, depicting Abraham LincolnAbraham Lincoln1166i – Allison and Tuttle – large red (1870)
1166n – Allison and New – large red (1875)
1000$1,000 2nd & 3rd 1870–75 Fr.1166j
proof
$1,000 Gold Certificate, Series 1875, Fr.1166j, depicting Alexander HamiltonAlexander Hamilton1166j – xxx and xxx – large red (1870)
1166o – Allison and New – large red (1875)
5000$5,000 2nd & 3rd 1870–75 Fr.1166k
proof
$5,000 Gold Certificate, Series 1870, Fr.1166k, depicting James MadisonJames Madison1166k – Allison and Gilfillan – large red
10000$10,000 2nd & 3rd 1870–75 Fr.1166l
proof
$10,000 Gold Certificate, Series 1875, Fr.1166l, depicting Andrew JacksonAndrew Jackson1166l – xxx and xxx – large red (1870)
1166q – Allison and Wyman – large red (1875)
10$10 7th 1907 Fr.1172 $10 Gold Certificate, Series 1907, Fr.1172, depicting Michael HillegasMichael Hillegas

1167 – 1172

1167 – Vernon and Treat – Gold
1168 – Vernon and McClung – Gold
1169 – Napier and McClung – Gold, Act of 1882
1169a – Napier and McClung – Gold, Act of 1907
1170 – Napier and Thompson – Gold, Act of 1882
1170a – Napier and Thompson – Gold, Act of 1907
1171 – Parker and Burke – Gold

1172 – Teeheeand Burke – Gold
10$10 9th 1922 Fr.1173 $10 Gold Certificate, Series 1922, Fr.1173, depicting Michael HillegasMichael Hillegas1173 – Speelman and White – Gold

1173a – Speelman and White – Gold, small serial numbers

20$20 4th 1882 Fr.1175a $20 Gold Certificate, Series 1882, Fr.1175a, depicting James GarfieldJames Garfield
20$20 4th 1882 Fr.1177 $20 Gold Certificate, Series 1882, Fr.1177, depicting James GarfieldJames Garfield
20$20 7th 1905 Fr.1180 $20 Gold Certificate, Series 1905, Fr.1180, depicting George WashingtonGeorge Washington1179 – Lyons and Roberts – small red

1180 – Lyons and Treat – small red

20$20 7th 1906 Fr.1185 $20 Gold Certificate, Series 1906, Fr.1185, depicting George WashingtonGeorge Washington
20$20 9th 1922 Fr.1187 $20 Gold Certificate, Series 1922, Fr.1187, depicting George WashingtonGeorge Washington1187 – Speelman and White – Gold
50$50 4th 1882 Fr.1189a $50 Gold Certificate, Series 1882, Fr.1189a, depicting Silas WrightSilas Wright

1188 – 1197

1188 – Bruce and Gilfillan – brown
1189* – Bruce and Gilfillan – brown, CS by Thomas C. Acton
1189a – Bruce and Gilfillan – brown, CS by Thomas C. Acton
1190 – Bruce and Wyman – brown
1191 – Rosecrans and Hyatt – large red
1192 – Rosecrans and Huston – large brown
1192a – Rosecrans and Huston – small red
1193 – Lyons and Roberts – small red
1194 – Lyons and Treat – small red
1195 – Vernon and Treat – small red
1196 – Vernon and McClung – small red

1197 – Napierand McClung – small red
50$50 4th 1882 Fr.1195 $50 Gold Certificate, Series 1882, Fr.1195, depicting Silas WrightSilas Wright
50$50 9th 1913 Fr.1199 $50 Gold Certificate, Series 1913, Fr.1199, depicting Ulysses GrantUlysses S. Grant1198 – Parker and Burke – Gold

1199 – Teehee and Burke – Gold

50$50 9th 1922 Fr.1200a $50 Gold Certificate, Series 1922, Fr.1200a, depicting Ulysses GrantUlysses S. Grant1200 – Speelman and White – Gold

1200a – Speelman and White – Gold, small serial numbers

100$100 4th 1882 Fr.1202 $100 Gold Certificate, Series 1882, Fr.1202, depicting Thomas Hart BentonThomas Hart Benton

1201 – 1214

1201 – Bruce and Gilfillan – brown
1202* – Bruce and Gilfillan – brown, CS by Thomas C. Acton
1202a – Bruce and Gilfillan – brown, CS by Thomas C. Acton
1203 – Bruce and Wyman – brown
1204 – Rosecrans and Hyatt – large red
1205 – Rosecrans and Huston – large brown
1206 – Lyons and Roberts – small red
1207 – Lyons and Treat – small red
1208 – Vernon and Treat – small red
1209 – Vernon and McClung – small red
1210 – Napier and McClung – small red
1211 – Napier and Thompson – small red
1212 – Napier and Burke – small red
1213 – Parker and Burke – small red

1214 – Teeheeand Burke – small red
100$100 4th 1882 Fr.1207 $100 Gold Certificate, Series 1882, Fr.xxxx, depicting Thomas Hart BentonThomas Hart Benton
100$100 9th 1922 Fr.1215 $100 Gold Certificate, Series 1922, Fr.xxxx, depicting Thomas Hart BentonThomas Hart Benton1215 – Speelman and White – small red
500$500 4th 1882 Fr.1216a $500 Gold Certificate, Series 1882, Fr.xxxx, depicting Abraham LincolnAbraham Lincoln
500$500 9th 1922 Fr.1217 $500 Gold Certificate, Series 1922, Fr.xxxx, depicting Abraham LincolnAbraham Lincoln1217 – Speelman and White – small red
1000$1,000 4th 1882 Fr.1218a $1,000 Gold Certificate, Series 1882, Fr.1218a, depicting Alexander HamiltonAlexander Hamilton
1000$1,000 4th 1882 Fr.1218g $1,000 Gold Certificate, Series 1882, Fr.1218g, depicting Alexander HamiltonAlexander Hamilton
1000$1,000 8th 1907 Fr.1219 $1,000 Gold Certificate, Series 1907, Fr.1219, depicting Alexander HamiltonAlexander Hamilton

1219 – 1219e

1219 – Vernon and Treat – Gold
1219a – Vernon and McClung – Gold
1219b – Napier and McClung – Gold
1219c – Napier and Burke – Gold
1219d – Parker and Burke – Gold

1219e – Teeheeand Burke – Gold
1000$1,000 9th 1922 Fr.1220 $1,000 Gold Certificate, Series 1922, Fr.1220, depicting Alexander HamiltonAlexander Hamilton1220 – Speelman and White – Gold
5000$5,000 4th 1882 Fr.1221a
proof
$5,000 Gold Certificate, Series 1882, Fr.1221a, depicting James MadisonJames Madison
5000$5,000 5th 1888 Fr.1222a
proof
$5,000 Gold Certificate, Series 1888, Fr.1222a, depicting James MadisonJames Madison1222 – Rosecrans and Hyatt – large red

1222a – Rosecrans and Nebecker – small red

10000$10,000 4th 1882 Fr.1223a
proof
$10,000 Gold Certificate, Series 1882, Fr.1223a, depicting Andrew JacksonAndrew Jackson
10000$10,000 5th 1888 Fr.1224a
proof
$10,000 Gold Certificate, Series 1888, Fr.1224a, depicting Andrew JacksonAndrew Jackson1224 – Rosecrans and Hyatt – large red

1224a – Rosecrans and Nebecker – small red

10000$10,000 6th 1900[nb 2]Fr.1225 $10,000 Gold Certificate, Series 1900, Fr.1225, depicting Andrew JacksonAndrew Jackson

1225a – 1225h

1225a – Lyons and Roberts – small red
1225b – Lyons and Treat – small red
1225c – Vernon and Treat – small red
1225d – Vernon and McClung – small red
1225e – Napier and McClung – small red
1225f – Napier and Burke – small red
1225g – Parker and Burke – small red

1225h – Teeheeand Burke – small red

Small[edit]

Modern usage by the Federal Reserve System[edit]

Since the time of the gold recall legislation, the United States Treasury has issued gold certificates to the Federal Reserve Banks. The Secretary of the Treasury is authorized to "prescribe the form and denominations of the certificates".[11] Originally, this was the purpose of the Series of 1934 Certificates which were issued only to the banks and never to the public. However, since the 1960s most of the paper certificates have been destroyed,[12] and the currently prescribed form of the "certificates" issued to the Federal Reserve is an electronic book entry account between the Federal Reserve and the Treasury.[13] The electronic book entry system also allows for the various regional Federal Reserve Banks to exchange certificate balances among themselves.[14]

As of December 2013 the Federal Reserve reported[15] holding $11.037 billion face value of these certificates. The Treasury backs these certificates by holding an equivalent amount of gold at the statutory exchange rate of $42 2/9 per troy ounce of gold, though the Federal Reserve does not have the right to exchange the certificates for gold. As the certificates are denominated in dollars rather than in a set weight of gold, any change in the statutory exchange rate towards the (much higher) market rate would result in a windfall accounting gain for the Treasury.

Series catalogue[edit]

This is a chart of some of the series of gold certificates printed. Each entry includes: series year, general description, and printing figures if available.

Small-size gold certificates[edit]

SeriesDenominationsSignaturesPrinting Figure
1928$10W. O. Woods – Andrew W. Mellon33,356,000
1928$20W. O. Woods – Andrew W. Mellon67,704,000
1928$50W. O. Woods – Andrew W. Mellon5,520,000
1928$100W. O. Woods – Andrew W. Mellon3,240,000
1928A$100W. O. Woods – Ogden L. Mills120,000*
1934$100W. A. Julian – Henry Morgenthau, Jr.120,000*
1928$500W. O. Woods – Andrew W. Mellon420,000
1928$1,000W. O. Woods – Andrew W. Mellon288,000
1934$1,000W. A. Julian – Henry Morgenthau, Jr.84,000*
1928$5,000W. O. Woods – Andrew W. Mellon24,000
1928$10,000W. O. Woods – Andrew W. Mellon48,000
1934$10,000W. A. Julian – Henry Morgenthau, Jr.36,000*
1934$100,000W. A. Julian – Henry Morgenthau, Jr.42,000*

* Notes: All Series 1928A gold certificates were consigned to destruction and never released; none[16] are known to exist. All Series 1934 gold certificates were issued only to banks and were not available to the public. The Series 1934 gold certificates are also distinguished from the previous gold certificates in their gold clause, which adds the phrase "as authorized by law" to denote that these notes cannot be legally held by private individuals, and by their distinctive orange reverses. Only a few museum specimens of these Series 1934 gold certificates survive today. The $100,000 note is the largest denomination of currency ever issued by the United States.

See also[edit]

[edit]

  1. ^Notes issued under a given Series (e.g., Series 1882, Series 1907) are, in some cases, released over a period of years, as reflected in the Friedberg number signature and seal varieties. For example, based on dates of the signature combinations,[4] the Series 1907 $10 gold certificate was first issued with the signature combination of Vernon and Treat (in office together from 1906 to 1909) and last issued with the Teehee and Burke signatures (in office together from 1915 to 1919). Therefore, a Series 1907 note could have been issued as late as 1919.
  2. ^There was a massive fire in a new Post Office building at the corner of 12th and Pennsylvania, in Washington D.C., on Friday, December 13, 1935. At the time, part of the 6th floor was being used for Treasury Department storage. Fire Fighters threw many boxes of documents out of the windows and into the streets below. One such box contained almost every surviving piece of the series 1900 Gold Certificates. Passersby quickly grabbed them up off the street, although all of the notes had been previously redeemed and canceled. Treasury records indicate that there are no outstanding redeemable notes of this series.[10]

Notes[edit]

  1. ^"Gold Certificate". BullionVault. Archived from the original on December 2, 2011. Retrieved July 19, 2010.
  2. ^"Interview: Harvey Organ, Lenny Organ, Adrian Douglas". King World News. 7 April 2010. Archived from the original on 1 July 2010.
  3. ^Friedberg & Friedberg, pp. 164–173.
  4. ^Friedberg & Friedberg, p. 303.
  5. ^ abFriedberg & Friedberg, 2013, p. 165.
  6. ^Blake, p. 19.
  7. ^Waldron, George B. (1896). A Handbook on Currency and Wealth: With Numerous Table and Diagrams. Funk & Wagnallis Company. p. 20. Retrieved July 6, 2014.
  8. ^The Bankers' Magazine. 43: 813. 1888.
  9. ^Friedberg & Friedberg, 2013, pp. 172-173.
  10. ^Friedberg & Friedberg, 2013, p. 173.
  11. ^"Chapter 31, United States Code". Retrieved March 31, 2013.
  12. ^"CUSTODY OF GOLD CERTIFICATES, SERIES OF 1934, as specified by the United States Treasury". Retrieved February 22, 2014.
  13. ^"ISSUE AND REDEMPTION OF GOLD CERTIFICATES, as specified by the United States Treasury". Retrieved February 21, 2014.
  14. ^"GOLD CERTIFICATE ACCOUNT, as Specified by Federal Reserve System". Retrieved February 21, 2014.
  15. ^"Federal Reserve H.4.1 Release". Retrieved December 28, 2013.
  16. ^"USPaperMoney.Info". Retrieved December 9, 2011.

References[edit]

Sours: https://en.wikipedia.org/wiki/Gold_certificate
$20 small gold certificate

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