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Gold vs Silver certificates - could they be used interchangeably?
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<p>[QUOTE="KSorbo, post: 5199447, member: 56370"]My understanding is that sometime around the 1876-1877 timeframe, faith in US currency was fully restored. Silver and gold coins went back into circulation, and all coins and paper currency traded at par. Silver mining entered its heyday during this time which drove the price of silver below coins’ face value. It didn’t go back above face value until silver coins were phased out in the 1960’s. I’m not sure if prior to the end of the gold standard, the market price of gold ever went above the $20.67 per ounce officially set by the US government. That would have been the only thing to cause gold certificates or coins to be worth more than silver.[/QUOTE]</p><p><br /></p>
[QUOTE="KSorbo, post: 5199447, member: 56370"]My understanding is that sometime around the 1876-1877 timeframe, faith in US currency was fully restored. Silver and gold coins went back into circulation, and all coins and paper currency traded at par. Silver mining entered its heyday during this time which drove the price of silver below coins’ face value. It didn’t go back above face value until silver coins were phased out in the 1960’s. I’m not sure if prior to the end of the gold standard, the market price of gold ever went above the $20.67 per ounce officially set by the US government. That would have been the only thing to cause gold certificates or coins to be worth more than silver.[/QUOTE]
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