Gold Certificates were authorized by legislation in 1863 and were first produced two years later in 1865. Although there were nine issues of the certificates, only four circulated among the public to any extent. This was because Gold Certificates generally served the needs of banks and other financial institutions in settling their gold accounts.
The most colorful of all United States paper currency and arguably the most attractive, Gold Certificates were issued in denominations of $10, $20, $50, $100, $500, $1,000, and $10,000. Additionally, a $100,000 Gold Certificate was issued in 1934 but only circulated among Federal Reserve Banks.
