The 1922 $10 Gold Certificate, commonly referred to as the "Hillegas Note," is a large-size gold certificate issued by the United States Treasury in 1922. It was redeemable in gold coin and was the lowest denomination in the series of 1922 gold certificates.
The obverse 1922 $10 Gold Certificate with a portrait of Hillegas
The name "Hillegas Note" comes from the portrait of Michael Hillegas, the first US Treasurer, featured on the front of the note. In a departure from the norm, Hillegas replaced the portrait of Alexander Hamilton that was more common on American currency of the time. Hillegas might not be a household name like Hamilton, but the choice to feature him on these gold certificates gives them a unique and distinct identity.
Exploring the Design Features of the 1922 $10 Gold Certificate
A closer look at the design apart from the Hillegas portrait, there are other notable design features to be appreciated. For instance, all 1922 $10 Gold Certificates bear the signatures of Speelman and White. Also, these certificates feature a gold seal and serial number, as well as a gold 'X' on the left-hand side. Interestingly, there are some small variations among the certificates, with some notes having smaller serial numbers than others. These variations command a slight premium, particularly in higher grades.
A closer look at the $10 Gold Certificate Large Size from both side
With its portrait of Michael Hillegas at the center surrounded by curvaceous decorative patterns and the words "This certifies that there have been deposited in the Treasury of the United States." The denomination of the certificate was printed in numerical form in all four corners, making it easily identifiable and valuable.
The serial numbers of the Hillegas Note were printed twice, in vivid yellow ink, in the lower left and upper right corners. This bold and bright ink added to the overall visual appeal of the certificate and made it stand out from other forms of currency. Additionally, a seal was printed in yellow ink, adding to the elegance and beauty of the note.
On the left side of the front of the certificate, there was a giant X indicating the denomination in Roman numerals. This clear identifier of the value of the certificate made it easily recognizable and valuable to those who held it.
The back of these gold certificates large size is just as striking as the front, with its radiant orange-gold color and sunburst design. In the lower center of the back is an iconic "Great Seal Of United States", a symbol of the strength and power of the United States. This design added to the overall beauty and value of the certificate. While there is only one signature combination, there are two variations of the serial number, the smaller ones being more rare.
From Gold Redemption to Collectibles Items
The $10 Gold Certificate Large Size, along with other gold certificates, used to be exchangeable for gold. However, during the Great Depression, the US government banned private ownership of gold and discontinued the redemption of these certificates in 1933. Although the ban was lifted in 1964, the 1922 $10 Gold Certificates are no longer redeemable for gold. Even though these notes can be exchanged based on their bearing face value. However, their value now lies more in their collectability and historical significance.
These Large-Size Gold Certificates are often found in VG-VF condition, but the Hillegas Notes in higher condition from XF to UNC carry a premium price due to their historical significance and attractive design. These certificates make a wonderful addition to any collection of U.S Large-Size Paper Money.
