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<p>[QUOTE=&quot;Steve Shupe, post: 8086223, member: 114551&quot;]Back in the 19th century specie (coins and metal money) had a greater value than paper money. Paper money was discounted in value because there was more risk with the paper money being good and the paper money could only be redeemed at the bank that issued the currency.&nbsp; Paper money was supposed to be backed by specie, but many times banks didn&#039;t have enough specie to back the paper. If people thought that a bank was having a problem, they would go to the bank and trade in the banks paper money for the Specie. A run on the bank caused by many people asking for specie, caused a lot of banks to fail, even when they did not have a problem until the run started. Silver (and gold) was king due to its intrinsic value so payments in &quot;silver dollars&quot; was always a preferred way to receive a payment.[/QUOTE]</p><p><br /></p>

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