US Note Vs. Federal Reserve Note - Coin Community Forum

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Author	Replies: 6 / Views: 1,993
Spetti2000 Valued Member United States 157 Posts	Posted 04/04/2009 01:24 am Just curious what the difference is between the two? Thanks! Report this Post to the Staff

Sap Moderator Australia 16826 Posts	Posted 04/04/2009 04:42 am As I understand it, United States Notes are issued by the Treasury, i.e. their issue was directly ordered by the government. Federal Reserve Notes are issued by the Federal Reserve Bank, and thus at "arm's length" from the government. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis Report this Post to the Staff
ChristinaM Pillar of the Community United States 547 Posts	Posted 04/04/2009 6:48 pm Sap's got it right. FRN's are what we use today. You can not reedem Federal Reserve Notes for gold/silver. US Notes were able to be redeemed for gold up until 1933 (When we abandoned the gold standard). They were still in circulation after that until the early 1970's. Report this Post to the Staff
daviscfad Pillar of the Community United States 4541 Posts	Posted 04/05/2009 9:44 pm If we ever go back to the gold standard will we be able to redeem our notes? Report this Post to the Staff
ChristinaM Pillar of the Community United States 547 Posts	Posted 04/06/2009 1:02 pm Quote: If we ever go back to the gold standard will we be able to redeem our notes? For FRN's I would say no. I do wonder about any of the US Notes that collectors still have as to whether or not they would be reedemable. Any thoughts? Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 04/06/2009 5:33 pm Quote: whether or not they would be redeemable Well, the reinstatement of the redeemable clause will depend on what the government does... and I don't think the government will be keen enough to re-exchange old yellow and blue notes for specie. Report this Post to the Staff
jbuck Moderator United States 188213 Posts	Posted 04/07/2009 10:32 am I agree. Not to mention that we can never return to the gold standard. There is not enough gold in the world, let alone our nation, to back the amount of paper we need for our economy. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
	Replies: 6 / Views: 1,993

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