Where did the first gold certificate come from?
Gold certificates are very much like the world’s first-ever paper bank notes. Starting in the 17th century, gold certificates were issued by goldsmiths in London and Amsterdam to customers depositing gold bullion into their safe-keeping. These gold certificates then acted as proof of gold ownership.
When did the US stop issuing gold certificates?
In the mid-19th century, the US Treasury began to issue gold certificates that could be exchanged for gold from its vaults. These gold certificates circulated as money until 1933, when the US government banned private gold ownership inside the United States.
How can I find out how many gold certificates I have?
Using modern technology it is easy to publish every day an accessible list of all gold owners with an interest in a specific vaulted store. Reconciled to an underlying bar list this can provide a reliable proof that the total number of owners can claim an amount of gold exactly equal to the vaulted total.
What does the back of a gold certificate look like?
The designs varied over the years but most had bright orange-colored backs and a gold-colored U.S. seal on the front. A $1,000 gold certificate printed in 1907, for example, has the denomination in all four corners on the face but is inscribed “IN GOLD COIN” below a portrait of Alexander Hamilton.
Are there any gold certificates that are unallocated?
Depending on the level of confidence which government backing of gold investments inspires in you there may be an exception to the wider pool of unallocated certificated gold schemes. Certainly the most well-known and most respected of the certificate providers is the Perth Mint Certificate Program.
What’s the cost of a gold certificate program?
Where a certificate program permits the conversion from unallocated to allocated the cost of allocating is usually prohibitive – involving a fabrication cost and an ongoing storage cost typically of 1.5% per annum.