The gold certificates were first authorized under the Legal Tender Act of 1863, but unlike the United States Notes also authorized, they apparently were not printed until 1865. There are nine issues but only four of them were put into circulation and the rest were intended for use in the financial institution.
The Large-Size Gold Certificates
Series of 1882 was the very first issue that was put into circulation. These series consist of seven denominations the lowest being $20 and the largest being $10,000. The $5,000 and $10,000 can only exist as proof example. All of the reverses carry an orange reverse which make these gold certificate famous with the nick name ”goldbacks”. The Eagle vignettes are designed in a variety of shapes and are arranged in many different positions on each note of this series.
Series of 1905, 1906, and 1907 consist of only two denominations:$10 and $20. In the series of 1905, there was an appearance of the $20 Twenty Dollars Gold Certificate with the numismatic nickname “Technicolor Note” is one of the legendary pieces of United States currency. Its owes its name to its bright golden background, gold lettering, and brilliant red serial numbers and seal on the face.
Series of 1913: There is only $50 denomination issued from this series.
Series of 1922: There were six denominations $10, $20, $50, $100, $500, and $1,000 from the last issue as the large-size gold certificate before shrunk. Most of the notes in this series inherit the design from their predecessors with gold ink applied for both serial numbers and treasury seal.
The Small-Size Gold Certificates
After the U.S Paper Currency resizing recommendation with the purpose to reduce the costs of production, paper and ink also speed up printing production were approved. The last series of the gold certificate was released in 1928 as small-size which specifically was smaller by 30% in sizing than the actual note at that time.
The series of 1928 consisted of 8 denominations $10, $20, $50, $100, $500, $1000, $5000 and $10.000. The serial number and the treasury seal were printed with gold ink. Small-size Gold Certificates superficially resemble a different series of U.S. currency which is the small-size Federal Reserve Notes were issued in 1928s also.
End of the Gold Certificate Dollar Bill
After US President Frankin D. Roosevelt signed an Executive Order 6102 forced people are required to deliver their gold coin, gold bullion also gold certificates to the treasurer of the United States on or before May 01st, 1933. For many years from 1933 to 1964, the private ownership of gold certificates consider an illegal activity.
In 1964, Treasury Secretary Douglas Dillon removed the restriction on private possession of gold which make it possible for collectors to own these gold certificates lawfully. These gold certificates are no longer redeemable for gold. But it still remains its legal status as legal tender of the United State and can be circulated or exchange as the face value of the note bearing.
All of the Gold Certificates are generally hard to find and always carry a premium numismatic value, particularly above choice uncirculated or higher examples. Due to their significance in American history and their beautiful patterns, gold certificates are a perfect complement to collectors' collections of U.S Large-Size Paper Money.
