Gold Certificates

Large U.S Gold Certificates

In 1928, the size of U.S currency, including gold certificates, changed. Large U.S gold certificates were issued prior to that point. They were replaced with smaller versions from 1928 forward. The backs of the larger certificates, as well as the backs of the rare 1934 notes, were gold, which led to the nickname ‘goldbacks.’ This contrasted with the Series of 1928 bills, which were green. Even today, the fiat U.S dollar is commonly referred to as “the greenback.”

The 1922 Gold Certificate

In 1922, the first ever $10 gold certificates were issued. The notes feature a portrait of the first Treasurer of the United States, Michael Hillegas, on the obverse. The reverses were printed with gold ink, reinforcing their gold backing. Manny of these notes were destroyed following President Roosevelt’s decision, yet some survive in Fine condition. GovMint.com currently has some of these notes available. Each one that we sell comes with a certificate of authenticity, which is particularly important given the unique history of these certificates.

The 1928 Gold Certificate

Gold certificates shrunk and were redesigned in 1928. Their design was similar to the one that was used until the recent redesign of U.S $10 notes. The reverse for this note was green, but gold was still included. A seal and serial numbers both featured on the obverse. They appear next to a portrait of Alexander Hamilton, who continues to appear on $10 bills today. A vignette of the U.S Treasury Building features on the reverse. As with the 1922 Gold Certificates, these only survived illegally in private hands, as most were destroyed following the prohibition on private gold ownership.