When opening up your wallet to pay for your typical morning latte or even a special summer lunch outing, you’ll likely grab your plastic debit card or cashback rewards credit card.
You might have some paper money or coins stuffed in the bottom of your wallet, but chances are your transactions are purchased electronically. The use of physical currency to pay for goods and services continues to drop every year, but paper currency is still rich in history and value.
Have you ever looked at the cash people use today? What about the currency 50 or 100 years ago? 200 years ago? What if I told you that redeeming US paper money for silver or gold was a common practice long ago? Would you believe me? It’s true! These two types of paper money are called Silver Certificates and Gold Certificates. Issued between 1878 and 1964, this circulation of paper currency was for purchase or trade for equal parts of gold or silver coinage.
To the right is a genuine, large size $2 Silver Certificate from 1896 graded a 62 by PMG, which is a third-party grading company who certifies and authenticates collectible paper money. This is the breathtaking second note from the Educational Series. The obverse (front) of the note is an allegorical design depicting Steam and Electricity as Commerce and Manufacturing. The reverse (back) of the note is the regal portraits of inventors Robert Fulton, creator of the steamboat, and Samuel F.B. Morse, innovator of the magnetic telegraph. Oftentimes currency depicted great innovators and politicians of their day in honor of the integral contributions they provided for the United States.
The $20 Gold Certificate from 1922 is shown in the striking picture above. On the obverse is the bust of George Washington, similar to the paper currency we have today. Depending on the year and signature combination for this specific note type, it can also be known as a Technicolor note because of the vibrant colorful print.
From its elaborate, wistful designs to the rich, cultivated history, US currency sparks interest from worldwide followers. The survival of these notes through the decades, along with the historical hands this currency has passed down through, makes for a valuable asset and rich storytelling. Want to learn more about different note types? Subscribe now to get our blogs sent straight to your inbox!
If you have any of these notes, or others, don’t forget that Arnold Jewelers is offering free quotes and is always buying paper currency. Happy collecting!