The Story of Money: 14--Gold and Silver Certificates
|Section 14: Progress and problems||Previous | Next | Section Index|
|Gold and silver certificates
Gold certificates first appeared in 1865 and were used mostly by banks in settling interbank accounts until 1933, when the U.S. government recalled them. Silver certificates were issued from 1878 to 1957 until a worldwide silver shortage in the early 1960s prompted their withdrawal and redemption.