Message:

<p>[QUOTE=&quot;Michael K, post: 2632795, member: 78298&quot;]You couldn&#039;t redeem for gold after 1933, but you could redeem for silver until June 24th, 1968.</p><p>A government does not have to issue its currency via an independent privately held central bank like the Federal Reserve. Rather, it can, if it wishes, issue its own currency and back that currency by precious metals. The United States Treasury did just that when it issued silver certificates from 1878 to 1964 and gold certificates from 1863-1933. In accordance with an Act of Congress, dated February 28, 1878, the Department of the Treasury issued to the public Silver Certificates which could be exchanged for silver dollars.</p><p>Silver and gold certificates were legal tender AND entitled the holder to redeem them for the equivalent value of silver or gold. Gold and silver certificates were issued by the United Treasury and were backed by the precious metals held at the Treasury. To redeem a gold or silver certificate holders presented them at a bank to receive the equivalent value in silver or gold coins then in circulation in the United States.</p><p>Redemption of gold certificates ended in 1933 <a href="https://smaulgld.com/think-fed-destroyed-dollar/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://smaulgld.com/think-fed-destroyed-dollar/" rel="nofollow">with Franklin Roosevelt’s executive order </a>nationalizing (confiscating) the United States citizens’ gold.</p><p>In 1878 when silver certificates were first issued, a holder would receive<a href="https://smaulgld.com/morgan-silver-dollars-sale/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://smaulgld.com/morgan-silver-dollars-sale/" rel="nofollow"> Morgan Silver dollars</a>. In 1963 silver certificate holders could receive Morgan Silver dollars (years minted:1878-1904 and 1921) or Peace Silver Dollars (years minted: 1921-1928, 1934 and 1935). Silver dollars, however, were in short supply by the early 1960’s</p><p>Pursuant to the Act of June 4, 1963 (31 U.S.C. 405a-1) U.S. Treasury C. Douglas Dillon announced in March 1964 the end of redemption of silver certificates to coincide with the cessation of mintage of silver coinage at the end of that year**. The Act allowed the exchange of silver certificates for silver bullion until June 24, 1968.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in