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Interesting detail on a 1950 series $20 bill I just got...

PostPosted: Sun Aug 14, 2011 5:47 am
by Nickelless
I got a 1950 series $20 bill in change yesterday and was intrigued by the now-obsolete wording on it:

THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE, AND IS REDEEMABLE IN LAWFUL MONEY AT THE UNITED STATES TREASURY, OR AT ANY FEDERAL RESERVE BANK.

Any chance the Fed would give me $20 in Au or Ag for it? :mrgreen:

Re: Interesting detail on a 1950 series $20 bill I just got.

PostPosted: Sun Aug 14, 2011 6:58 am
by Lemon Thrower
no, they defaulted on that promise long ago. but at one time you could have, yes.

Re: Interesting detail on a 1950 series $20 bill I just got.

PostPosted: Fri Aug 19, 2011 9:01 pm
by Know Common Cents
Those could have been redeemed as well as silver certificates, gold certificates, etc. You know............the "old days" when legal, lawful money and coinage equated to a stable economy. So much for that idea.