Legal Tender — Guidelines for U.S. Money

1907

You Might Think Gold Certificates Are, but They Are Not

"Gold certificates, silver certificates and national bank notes are not legal tender, but both classes of certificates are receivable for all public dues, while national bank notes are receivable for all public dues except on imports and may be paid out by the government for all salaries and other debts and demands owing by the United States to individuals, corporations and associations within the United States," says the treasury department.

"Gold coin is legal tender at its nominal face value for all debts.

"Standard or silver dollars are legal tender at their nominal or face value for all debts, public and private, except where otherwise expressly stipulated in the contract.

"Subsidiary silver is legal tender for amounts not exceeding $10 in any one payment.

"Treasury notes of the act of July 14, 1890, are legal tender for all debts, public and private, except where otherwise expressly stipulated in the contract.

"United States notes (also called greenbacks) are legal tender for all debts, public and private, except duties on imports and interest on the public debt.

"The minor coins of nickel and copper are legal tender to the extent of 25 cents." — Bulls and Bears.