1882 Gold Certificates

[dpg]

Can anyone tell me where (what kind of bank etc.) could have issued $10,000 1882 gold certificates? These were bearer notes and did not require actual gold deposit. This is not s collecting question - it's research for a novel.

Thank you.

[jtryka]

Banks did not issue gold certificates per se, gold certificates were issued directly by the US Treasury. The series 1882 notes were issued by the Treasury, they were all bearer instruments, but they did require that the Treasury maintain the stated amount of gold for redemption at the fixed gold price of $20.67 per ounce. These notes did not circulate much, but may have been used more commonly by banks as reserve assets, or to back their own issuance of notes. I hope this helps.

[BRIAN339]

Interesting Jeff. I have also heard the $10,000. GC were used for bank to bank transactions only.