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<p>[QUOTE=&quot;midtncoin, post: 4898208, member: 89569&quot;]I searched back through several pages of previous posts but couldn&#039;t seem to find an answer to this one (although I wasn&#039;t exactly sure how to word it)</p><p><br /></p><p>I&#039;m trying to understand the differences between the different &quot;types&quot; of bank notes the US has issued.</p><p><br /></p><p>Some are easy.&nbsp; For example, a silver certificate or a gold certificate could be taken to the issuing bank and redeemed for the stated amount in silver or gold coin.</p><p><br /></p><p>But it gets more confusing with National Bank Notes and Federal Reserve Bank Notes.&nbsp;&nbsp; If someone took one of these to the bank listed on the face, theoretically how could they redeem it?&nbsp; For gold or silver?&nbsp;&nbsp; Or simply as a means of deposit?</p><p><br /></p><p>And then you factor in US Notes (or Legal Tender Notes -- aka Red Seals).&nbsp;&nbsp; Were they like NBN&#039;s or FRBN&#039;s -- but to any bank within the Federal Reserve System? </p><p><br /></p><p>Then we have the currently produced Federal Reserve Notes that are useful only for deposit of stated amount and have no actual redemption value.</p><p><br /></p><p>So can anyone give a terse description of the difference between Brown Seals and Red Seals as far as redemption abilities?&nbsp;&nbsp; (Of course I&#039;m referring to how they could be redeemed in the year of issue -- not today).[/QUOTE]</p><p><br /></p>

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