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<p>[QUOTE=&quot;Jamericon, post: 1496726, member: 18294&quot;]&lt;&lt;Well, every paper bill was backed by gold until we went off the gold standard in&nbsp; the 70&#039;s.&nbsp; Even after gold certificates had stopped being made. That&#039;s the&nbsp; whole point of a gold standard.&gt;&gt;</p><p><br /></p><p>&lt;&lt;The United States has been off of the Gold Standard since April 25th, 1933....maybe you&#039;re thinking of silver backed certificates that quit being redeemed for silver in June, 1968.&gt;&gt;</p><p><br /></p><p>Only gold certificates, Treasury notes, Federal Reserve notes, and United States notes were ever backed by gold reserves. Silver certificates were backed by silver, national bank notes by Treasury bonds deposited by the issuing banks, and Federal Reserve Bank notes by Treasury and other kinds of bonds.</p><p><br /></p><p>The January 1934 Gold Reserve Act ended the redemption of currency for gold. Circulating gold certificates officially ceased after the act was passed. Federal Reserve notes continued to have a gold backing until the 1970s. So did United States notes, although I don&#039;t know until when. I presume it lasted until the Treasury stopped issuing them in the 1960s.[/QUOTE]</p><p><br /></p>

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