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Has the US ever "demonetized" any currency or coinage?
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<p>[QUOTE="John Burgess, post: 4851609, member: 105098"]there's more than a few banknotes that, while not "demonetized" you'd be hard pressed to ever spend them as they are obsolete and not used or seen in commerce. </p><p><br /></p><p>You'd never use a gold quarter eagle to buy a loaf of bread either. it's more like it's obsolete to the point of uselessness in commerce and kept by collectors.</p><p><br /></p><p>we don't really "demonetize" with the exception of Roosevelt and Executive Order 6102, to come off the gold standard, other than that, it's been letting it circulate as legal tender and the fed removing it and destroying it until eventually there nothing of it left in circulation, Kind of like what's happening with the older $100 bills with the additional anti counterfeiting measures, you rarely see anything pre-1990s, or the red seal 1966's occasionally you do see the design from 2007-2013 still, but most of it is now the newer 2013 to now design. kind of just keep it legal tender until it's so obsolete it doesn't turn up anymore except in collections.</p><p><br /></p><p>As far as older coins and currency, you can take any of it to a federal reserve bank and exchange it for a newer version for face value, even those $2.50 quarter eagles.</p><p><br /></p><p>everywhere don't have to take it or for the gold value or silver values, same goes with gold certificates and silver certificates, it's worth the value marked on the certificate in a new bill only.[/QUOTE]</p><p><br /></p>
[QUOTE="John Burgess, post: 4851609, member: 105098"]there's more than a few banknotes that, while not "demonetized" you'd be hard pressed to ever spend them as they are obsolete and not used or seen in commerce. You'd never use a gold quarter eagle to buy a loaf of bread either. it's more like it's obsolete to the point of uselessness in commerce and kept by collectors. we don't really "demonetize" with the exception of Roosevelt and Executive Order 6102, to come off the gold standard, other than that, it's been letting it circulate as legal tender and the fed removing it and destroying it until eventually there nothing of it left in circulation, Kind of like what's happening with the older $100 bills with the additional anti counterfeiting measures, you rarely see anything pre-1990s, or the red seal 1966's occasionally you do see the design from 2007-2013 still, but most of it is now the newer 2013 to now design. kind of just keep it legal tender until it's so obsolete it doesn't turn up anymore except in collections. As far as older coins and currency, you can take any of it to a federal reserve bank and exchange it for a newer version for face value, even those $2.50 quarter eagles. everywhere don't have to take it or for the gold value or silver values, same goes with gold certificates and silver certificates, it's worth the value marked on the certificate in a new bill only.[/QUOTE]
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Has the US ever "demonetized" any currency or coinage?
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