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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.

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Good faith and trust.

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17y ago
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Q: What is the US dollar backed by?
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Continue Learning about U.S. History

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


The national currency of US?

The currency of the United States is the US Dollar


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.


How many cents are in one US Dollar?

A US dollar is 100 cents.