Gold Certificates

Modern or Small Sized Gold Certificates were issued for Series 1928 and 1934. They were issued in denominations of $10.00, $20.00, $50.00, $100.00, $500.00, $1000.00, $5000.00, $10,000.00 and $100,000.00. The $5000.00, $10,000.00 and $100,000.00 notes were used to transfer money between financial institutes and were not released for general circulation.

The Gold Reserve Act of 1933 required that all gold coins and gold certificates be surrendered to the Treasury and Americans were forbidden to hold gold coins or Gold Certificates. The Series 1934 gold certificates, consequently, were not a public issue. They were only intended to circulate among Federal Reserve Banks and therefore read, "Payable to the Bearer on Demand as Authorized by Law."

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