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Gold vs Silver certificates - could they be used interchangeably?
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<p>[QUOTE="techwriter, post: 5194043, member: 75477"]Maybe if I had paid more attention to the original post I would not have gone off chasing a rabbit; </p><p>1. will have to research a bit more about deadline for gold redemption</p><p>2. </p><p> Public Law 90-29 was passed which mandated that <b>after June 1968 the silver certificates would no longer be redeemable in silver,</b> although they would still be honored the same as Federal Reserve Notes at their face value.</p><p><br /></p><p>Between June of 1967 and June of 1968 the price of silver went up so that it was profitable to redeem the certificates for their silver. Essentially you could redeem a $1 silver certificate for the 0.7735 of silver, which would be worth up to $1.90, depending on the price of silver at the time.</p><p><br /></p><p>However, one problem was that the silver certificates could only be redeemed in person at the New York or San Francisco Assay Offices – the Government would accept no mail order redemptions.[/QUOTE]</p><p><br /></p>
[QUOTE="techwriter, post: 5194043, member: 75477"]Maybe if I had paid more attention to the original post I would not have gone off chasing a rabbit; 1. will have to research a bit more about deadline for gold redemption 2. Public Law 90-29 was passed which mandated that [B]after June 1968 the silver certificates would no longer be redeemable in silver,[/B] although they would still be honored the same as Federal Reserve Notes at their face value. Between June of 1967 and June of 1968 the price of silver went up so that it was profitable to redeem the certificates for their silver. Essentially you could redeem a $1 silver certificate for the 0.7735 of silver, which would be worth up to $1.90, depending on the price of silver at the time. However, one problem was that the silver certificates could only be redeemed in person at the New York or San Francisco Assay Offices – the Government would accept no mail order redemptions.[/QUOTE]
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Gold vs Silver certificates - could they be used interchangeably?
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