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When did the US Dollar change?
Look at these two pictures.
http://www.geocities.com/crikeyme_mate/old20.jpg
http://www.geocities.com/crikeyme_mate/other20.jpg
was this something that changed with the removing of the gold standard? the old 20 is from 1934 and the other one is still the old style, but a newer printing.
This is more of a curiosity question, and i wasnt sure where to post it otherwise!
any info would be fantastic, sources would be even better so i can find out other things later if they come up.
Thanks!
2 Answers
- 1 decade agoFavorite Answer
You are correct - It has everything to do with the Gold Standard.
Up until 1933, all US Federal Reserve Notes were redeemable in gold coins, which were still being made for circulation. When the US dropped the gold standard and minting of gold coins stopped, the Series 1934 Federal Reserve notes had to be issued with the "Redeemable in Gold" clause removed. In fact, that is the major difference between Series 1928 and Series 1934 Federal Reserve Notes.
By the way, "IN GOD WE TRUST" wasn't added until 1957.
- Timothy BLv 41 decade ago
All the "paper money" currency was in a transition period from the old large size notes to the present day sized notes. Also some of the notes had different colored inks and uses. Some were silver certificates, others for gold. Eventually as the funds for various metals have decreased, or the prices of the metals increased to be worth more than the currency the Notes had to be changed to reflect the change. Currently we only use federal Reserve Notes. And all those notes have all the same wording. Also note the reverse "backside" of the note, it does not say "In God We Trust".
Source(s): Coin and currency collecting experience. Also try coinage.com or Littleton Coin Company for a lot more money info.