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Sun Jul 09, 2006 12:13 am Old Rare Paper Money (Large Size Gold Certificates) |
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Large Size Gold Certificates
| Code: | Gold Certificates
Gold Certificates were authorized by the Currency Act of March 3, 1863 and were issued in series from 1865 to 1934. The earlier Gold Certificates, due to their higher face values, were not intended for general circulation, but were used almost exclusively in interbank channels to settle gold accounts.
70 years after being authorized, Gold Certificates met their demise by the Gold Reserve Act of 1933. On December 28, 1933 the Secretary of the Treasury, Henry Morgenthau, Jr., issued an order forbidding the holding of Gold Certificates and required their surrender. Banks were ordered to turn in all stocks of gold certificates as well as the general public. A provision had been made for collectors allowing them to retain their collection of gold coins, but this provision did not include Gold Certificates. Finally, 31 years later on April 24, 1964, the Secretary of the Treasury, C. Douglas Dillon, issued regulations removing all restrictions on the acquisition or holding of Gold Certificates which were issued by the US Government prior to January 30, 1934. This covered notes up to Series 1928 only.
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| Code: | Large Size Gold Certificates consisted of 9 issues and were authorized by the Currency Act of March 3, 1863. The first, second, third and sixth issues were mainly used between banks and clearinghouses and not intended for general circulation.
The first issue was printed in denominations of $20, $100, $500, $1,000, $5,000 and $10,000 and is extremely rare. The obligation on the first and second issues read; "It is hereby certified that ___ dollars have been deposited with the Assistant Treasurer of the United States in New York payable in gold at his office to the bearer."
The second issue was printed in denominations of $100, $500, $1,000, $5,000 and $10,000 with only one example of the $500 note known.
The third issue consisted of series 1875 and was printed in denominations of $100, $500 and $1000 and was a blank back uniface design. The obligation on the third issue read; "It is hereby certified that ___ dollars have been deposited with the Assistant Treasurer of the United States payable in gold at his office to the order of ...." These notes were countersigned and dated by hand.
Gold Certificates entered general circulation with the fourth issue and the obligation was changed to read:
"This certifies that there have been deposited in the Treasury of the United States of America ___ Dollars in gold coin repayable to the bearer on demand." The word "repayable" was replaced with "payable" after series 1882. Series 1922 also bore the following: "This certificate is a legal tender in the amount thereof in payment of all debts and dues public and private. Acts of March 14, 1900, as amended and December 24, 1919."
The fourth issue consisted of series 1882 and was printed in denominations of $20, $50, $100, $500, $1,000, $5,000 and $10,000.
The fifth issue consisted of series 1888 and was printed in denominations of $5000 and $10000.
The sixth issue consisted of series 1900 and was printed in a $10,000 denomination only. This issue was used primarily between banks and clearing houses.
The seventh issue consisted of the following series and denominations:
Series 1905 $20 (Considered the most beautiful Gold Certificate because of a red seal and serial numbers and on the back, gold tinted center and gold border.)
Series 1906 $20
Series 1907 $10
The eighth issue consisted of series 1907 in a $1,000 denomination only.
The ninth issue consisted of the following series and denominations:
Series 1913 $50
Series 1922 $10, $20, $50, $100, $1,000
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