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sadly it is backed only by promises. It used to be backed by gold but that was taken away and now it is backed by nothing.
Wiki User
∙ 13y ago
Wiki User
∙ 16y agoGood faith and trust.
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What is the value of a 1914 US 50 dollar Federal Reserve Note silver certificate?
Please don't assume that every old bill is a silver certificate. The banner across its top identifies your bill as a Federal Reserve Note only. There's more information at the question "What is the value of a 1914 US 50 dollar bill?" Federal Reserve Notes were very different from silver certificates and were never combined. Silver certificates were issued directly by the Treasury and were backed dollar-for-dollar with silver on deposit. Federal Reserve Notes are issued by the Federal Reserve Bank and are not backed with precious metal.
What is a us note with blue ink?
A us noTe with blue ink is backed by silver
What is the difference between blue and red serial numbers on US bills?
In 1928 the Treasury standardized the seal colors used on all US bills. Blue seals were used for silver certificates. These bills were backed dollar-for-dollar with silver on deposit with the Treasury. Red seals were used for United States Notes. These bills were issued directly by the Federal Government but had no precious metal backing them up. Gold seals were used for gold certificates. These bills were backed dollar-for-dollar with gold on deposit with the Treasury. Green seals were and are used for Federal Reserve Notes. FRNs are issued by the Federal Reserve Bank. Like US Notes, they're not backed by precious metal but instead by the "full faith and credit of the United States". Production of gold certificated ended when the US went off the gold standard in 1933. Silver certificates were discontinued when silver was deregulated in the early 1960s. US Notes made up such a small fraction of all bills in circulation tht production was suspended in the late 1960s to save printing costs.
The national currency of US?
The currency of the United States is the US Dollar
How many cents are in one US Dollar?
A US dollar is 100 cents.
Why the british pound is stronger than the US dollar?
The British Pound is backed by silver where as the US dollar isn't backed by anything as use to be in the 18th century.
Is the Australian dollar backed by gold?
No - the Australian dollar is a fiat currency.
What is a 5 dollar silver certificate?
Regardless of denomination, silver certificates were a form of currency backed dollar-for-dollar with silver bullion on deposit in the US Treasury. Please see the Related Question for a more detailed explanation.
Is the dollar backed by gold?
No it's not, and hasn't been for decades.
What are 2 terms that refer to the economic system in the US?
The United States currently has a "Fractional Monetary Reserve System" although the system was originally a "Specie-backed" system (each dollar backed by a quantified amount of gold, "The Gold Standard").
Is Iraq dinar pegged to the dollar?
No the Dinar is backed by gold repository
What does the word US-backed region mean?
Us-backed regions are countries that we back up during wars.
What is correct 'a US dollar' or 'an US dollar'?
a us dollar
What is the value of a 1914 US 50 dollar Federal Reserve Note silver certificate?
Please don't assume that every old bill is a silver certificate. The banner across its top identifies your bill as a Federal Reserve Note only. There's more information at the question "What is the value of a 1914 US 50 dollar bill?" Federal Reserve Notes were very different from silver certificates and were never combined. Silver certificates were issued directly by the Treasury and were backed dollar-for-dollar with silver on deposit. Federal Reserve Notes are issued by the Federal Reserve Bank and are not backed with precious metal.
How did the US get access to canal zone in panama?
The US Military backed rebels who soon controlled independent Panama
What is the US dollar to the Canadian dollar?
1 US dollar is equal to .9843 Canadian dollar.
What is the value of a 1928 US 5 dollar Federal Reserve Note redeemable in gold?
That phrase appeared on all Federal Reserve Notes of the time because the US still issued gold-backed currency, even though FRNs were not gold certificates. Please see the question "What is the value of a 1928 US 5 dollar Federal Reserve Note?" for more information.
