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Gold vs Silver certificates - could they be used interchangeably?
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<p>[QUOTE="Martha Lynn, post: 5242407, member: 101796"]Here is a practical way of answering what I believe to be your conundrem. Where ever the legal redemption centers were, be it assays offices or where ever that cashiers cage was located to redeem to the bearer of a certificate of gold or silver. Imagine this. If you redeem a ten dollar silver certificate, out comes the grain scale and a bag of silver. What ever silver closed at the previous day, would detirmine how many grains of silver you were given in exchange for the certificate. An amount in silver equal to the face value of the certificate. At that time, if you were at a bank doing this transaction, you could save the teller some time by declaring you really don't want the silver shavings, so please give me ( fill in the blank here ) 2 five dollar gold pieces. Or 1000 cents. Ten dollars is ten dollars. What you will see changing is how much gold or silver shavings you walk out of the bank or assays office with ...martha[/QUOTE]</p><p><br /></p>
[QUOTE="Martha Lynn, post: 5242407, member: 101796"]Here is a practical way of answering what I believe to be your conundrem. Where ever the legal redemption centers were, be it assays offices or where ever that cashiers cage was located to redeem to the bearer of a certificate of gold or silver. Imagine this. If you redeem a ten dollar silver certificate, out comes the grain scale and a bag of silver. What ever silver closed at the previous day, would detirmine how many grains of silver you were given in exchange for the certificate. An amount in silver equal to the face value of the certificate. At that time, if you were at a bank doing this transaction, you could save the teller some time by declaring you really don't want the silver shavings, so please give me ( fill in the blank here ) 2 five dollar gold pieces. Or 1000 cents. Ten dollars is ten dollars. What you will see changing is how much gold or silver shavings you walk out of the bank or assays office with ...martha[/QUOTE]
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