1928 B $10 FEDERAL RESERVE NOTE BOSTON REDEEMABLE IN GOLD ON DEMAND
Item History & Price
Reference Number: Avaluer:35810395 | Circulated/Uncirculated: Circulated |
Grade: Ungraded | Country/Region of Manufacture: United States |
Type: Banknotes | Certification: Uncertified |
Year: 1928 | Denomination: $10 |
have the U.S. Treasury on the back. They have a green seal on the right and green serial numbers.
You will notice that “In God We Trust” is not found on the note, as the motto didn’t appear on notes until 1956.In those days, a person could march into a bank, hand the clerk a slip of paper as ...illustrated above and demand the denominated amount in gold coin. The system imposed a hard discipline upon banks...and held inflation in checkmate. Federal Reserve banks were required to keep a 35% reserve of "gold or lawful money" on hand, lest they make a liar of the United States Treasury secretary – in this case the Hon. Andrew William Mellon. In effect, the private citizen bound the banking system in golden handcuffs. But one Great Depression, one New Deal and one world war later.....we come now to a 1950 $10 bank note: The fine print disguises a vast swindle: The gold provision was stricken from the record. The bankers had broken free of their golden handcuffs.
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