Silver Certificates

Did you know that depositors of silver could choose to have their bullion struck into silver coins?

Until the Act of 1853, depositors could still choose to have silver struck into dollar coins, but since there was more than a dollar's worth of silver in a dollar coin, it was more profitable to sell the bullion to manufacturers and jewelers. So long as silver prices remained high, this effectively placed the United States on the gold standard.

Although the Mint rarely received deposits of silver for striking into coins after 1853, it purchased silver bullion using the new lightweight silver coins at above-market prices. This was illegal, as Congress had ordered that the new lightweight coins only be purchasable using gold.

The glut was replaced with a shortage when most federal coins were hoarded amid the economic chaos of the Civil War.

The Coinage Act of 1873 or Mint Act of 1873, 17 Stat. 424, was a general revision of the laws relating to the Mint of the United States. In abolishing the right of holders of silver bullion to have their metal struck into fully legal tender dollar coins, it ended bimetallism in the United States, placing the nation firmly on the gold standard. Because of this, the act became contentious in later years, and was denounced by some as the "Crime of '73".

Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard. The certificates were initially redeemable for their face value of silver dollar coins and later (for one year – June 24, 1967 to June 24, 1968) in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender at their face value and thus are still an accepted form of currency.

Notgeld or “Emergency Money”

Notgeld is German for "emergency money" or "necessity money" refers to money issued by an institution in a time of economic or political crisis. The issuing institution is usually one without official sanction from the central government.

Issuing institutions could be a town's savings banks, municipality and private or state-owned firms.

Notgeld was released even before Germany entered World War I. Citizens fearful of losing their wealth began hoarding the coins in the days before war was declared. Collectors tend to categorize by region or era rather than issuing authority (see below). Notgeld is different from occupation money that is issued by an occupying army during a war.

In 1922, inflation started to get out of control in Germany, culminating in hyperinflation. Throughout the year, the value of the mark deteriorated faster and faster and new money in higher denominations was issued constantly.The Reichsbank could not cope with the logistics of providing the necessary supply of money, and Notgeld was again issued—this time in denominations of hundreds and then thousands of Marks.

By July 1923, the Reichsbank had lost control of the economy. Notgeld flooded the economy, being issued by any city, town, business, or club that had access to a printing press, in order to meet the insatiable rise in prices. Even Serienscheine were being hand-stamped with large denominations to meet the demand. By September, Notgeld was denominated in the tens of millions; by October, in billions; by November, trillions

Collectors of Notgeld will create different types of collections. Some people collect notes by one city - perhaps Bavaria or Brandenburg. Another is topics shown on notes: maps, ships, animals, sports, windmills, theme, etc. Other collectors just want notes that they like for their own reasons! There are many Notgeld notes still in existence and, as will all collectibles, the more common ones are still affordable.

Check out our listings of Notgeld on ebay: https://www.ebay.com/str/bjstampsstore/Foreign-Currency/_i.html?_storecat=3442035011

For further reading on Notgeld: http://www.coinspot.org/notgeld.html

New to Bullion Investing?

George C. Parker (March 16, 1860– 1936) was an American con man best known for his successful attempts to "sell" the Brooklyn Bridge. Today cons can reach people all over the world with videos and websites.

There are many "get rich quick" YouTube videos and articles that will give you information about bullion. If you are new to investing or you just inherited gold, silver, platinum, or palladium it can be difficult to know what information is correct or a bad idea to follow.

Just like looking for medical advice online; look at the source! Here are some reputable resources:

Federal Trade Commission: https://www.consumer.ftc.gov/articles/0135-investing-bullion-and-bullion-coins

Commodity Fututres Trading Commission: https://www.cftc.gov/

US Securities and Exchange Commission: https://www.investor.gov/

American Numismatic Association: https://www.money.org/

Once you are ready to invest, give us a call! Unlike George C. Parker, we are more than happy to tell you how we arrive at our prices! We have been in the same brick and mortar store with the same owner since 1983. We mail bullion via USPS with insurance and tracking. Contact us directly to inquire about completing your purchase.

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