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Silver Certificates

KUCHKUCH Posts: 1,186
in Precious Metals
I know that years ago, you could take a $1 Silver Certificate to a Federal Bank and cash in for the price of silver. Is this still possible today?

Comments

  • ZubieZubie Posts: 1,160 ✭✭✭✭
    Nope...(from wiki)...
    Silver Certificates are a type of representative money printed from 1878 to 1964 in the United States as part of its circulation of paper currency.[1] They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard. The certificates were initially redeemable in the same face value of silver dollar coins, and later in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but are still valid legal tender.

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  • jmski52jmski52 Posts: 22,941 ✭✭✭✭✭
    Nope, for awhile you would get silver dollars and when they ran out of silver dollars, you would get a packet of silver worth $1.00.
    Q: Are You Printing Money? Bernanke: Not Literally

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