Replicas of 1934 Gold Certificates

by Charles Robinson

Title

Replicas of 1934 Gold Certificates

Artist

Charles Robinson

Medium

Photograph

Description

I found these copies of the 1934 Series United States Gold Certificates on Ebay in the denominations of $100, $1,000 and $10,000 The currency is still technically legal tender in the United States. The full scale 24" x 24" image shows the actual size of the bills.
. . . . . .
Wikipedia said about the currency,

High-denomination currency was prevalent from the very beginning of U.S. Government issue (1860). Interest-bearing notes of $500, $1,000, $5,000, and $10,000 were issued in 1861, and $5,000 and $10,000 United States Notes were released in 1878. There are many different designs and types of high-denomination notes.
The high-denomination bills (together with the $1 through $100 denominations) were issued in 1929 in the smaller size that remains the format to this day. The designs were as follows:
� $100 Benjamin Franklin
� $500: William McKinley, 25th U.S. President (1897�1901)
� $1,000: Grover Cleveland, 22nd and 24th U.S. President (1885�89, 1893�97)
� $5,000: James Madison, fourth U.S. President (1809�17)
� $10,000: Salmon P. Chase, sixth U.S. Chief Justice (1864�73)
� $100,000: Woodrow Wilson, 28th U.S. President (1913�21)
The reverse designs are abstract scroll-work with ornate denomination identifiers. All were printed in green, except for the Series of 1934 gold certificate, which were printed in orange on the reverse. These Series 1934 gold certificates (of denominations $100, $1,000, $10,000, and $100,000) were issued after the gold standard was repealed and gold was compulsorily confiscated by order of President Franklin Roosevelt on March 9, 1933 and thus were used only for intra-government transactions and not issued to the public. Of these, the $100,000 is an odd bill in that it was printed only as this Series 1934 gold certificate. This series was discontinued in 1940. The other bills are printed in black and green. Although they are still technically legal tender in the United States, high-denomination bills were last printed on December 27, 1945, and officially discontinued on July 14, 1969, by the Federal Reserve System. The $5,000 and $10,000 effectively disappeared well before then. Of the $10,000 bills, 100 were preserved for many years by Benny Binion, the owner of Binion's Horseshoe casino in Las Vegas, Nevada, where they were displayed encased in acrylic. The display has since been dismantled and the bills sold to private collectors.
The Federal Reserve began taking high-denomination bills out of circulation in 1969, after an executive order by President Nixon (rather than actual legislation passed by Congress). As of May 30, 2009, only 336 $10,000 bills were known to exist; 342 remaining $5,000 bills; and 165,372 remaining $1,000 bills. Due to their rarity, collectors will pay considerably more than the face value of the bills to acquire them. Some are even in other parts of the world in museums.
For the most part, these bills were used by banks and the Federal Government for large financial transactions. This was especially true for gold certificates from 1865 to 1934. However, the introduction of the electronic money system has made large-scale cash transactions obsolete. When combined with concerns about counterfeiting and the use of cash in unlawful activities such as the illegal drug trade and money laundering, it is unlikely that the U.S. government will re-issue large denomination currency in the near future, despite the amount of inflation that has occurred since 1969 (A $500 bill is now worth less, in real terms, than a $100 bill was worth in 1969). According to the US Department of Treasury website, "The present denominations of our currency in production are $1, $2, $5, $10, $20, $50, and $100. Neither the Department of the Treasury nor the Federal Reserve System has any plans to change the denominations in use today.

Uploaded

March 5th, 2014

Statistics

Viewed 183 Times  -  Last Visitor from New York, NY on 04/22/2024 at 2:07 PM

Colors

Embed

Share

Sales Sheet

Tags