What money looked like before the fed

[aries]

Thought you guys might be interested, I found these high res photos on ebay.
I saved a bunch of pictures of old money back when it was backed and issued by national banks, some from the 1800s, some like these from just years before the fed took over.

[Pat McCotter]

The Federal Reserve Act was passed in 1913 and Federal Reserve Notes were issued in 1914.

A Brief History of Our Nation's Paper Money

[Michael Fisher]

What real money looked like thousands of years ago:



What real American money looked like before the federal reserve:



What real American money looks like during the federal reserve:



What real money will probably always look like: 



English -- mon?ey: gold, silver
French word for "money" -- ar?gent: silver

[aries]

I think it's interesting though that it was redeemable in "lawful currency" and secured by bonds at the treasury, instead of guaranteed by the fed.

[Pat McCotter]

Yes, because the National Currency Act was in effect prior to the Federal Reserve. The ones you show were the last year issued, I believe. The bonds backing them were all discontinued in 1945.

[Pat McCotter]

Oh, BTW, I have a $20 National Currency note from the National Bank of Meriden, CT.

[president]

Meriden, CT.

The silver city

[burnthebeautiful]

Those notes are backed by bonds, not by gold and silver. They're not quite "real money", but closer to it than what we have now.

[Pat McCotter]

Meriden, CT.

The silver city

Yep . The only remnant of that era, though, is a pewterer and a house with a sign showing it used to be a spoon factory.

[aries]

Those notes are backed by bonds, not by gold and silver. They're not quite "real money", but closer to it than what we have now.

I thought Nixon abolished the gold standard?

The bonds might have been related to gold in the tresaury somehow.

Not sure 

[DC]

Those notes are backed by bonds, not by gold and silver. They're not quite "real money", but closer to it than what we have now.

I thought Nixon abolished the gold standard?

The bonds might have been related to gold in the tresaury somehow.

Not sure 

He knocked us off the Bretton Woods system. I think it was signed in1944 at the Mount Washington Hotel by Littleton which I am sure you are familar with.

http://en.wikipedia.org/wiki/Bretton_Woods_system

[aries]

Those notes are backed by bonds, not by gold and silver. They're not quite "real money", but closer to it than what we have now.

I thought Nixon abolished the gold standard?

The bonds might have been related to gold in the tresaury somehow.

Not sure 

He knocked us off the Bretton Woods system. I think it was signed in1944 at the Mount Washington Hotel by Littleton which I am sure you are familar with.

http://en.wikipedia.org/wiki/Bretton_Woods_system

I had no idea that a system of international monetary management was named after a village in my town.

You learn something new every day.

[PowerPenguin]

For more examples of "obselete" money, check out APMEX. There are some interesting bills from the Colonial and Civil War periods. Also, a little known fact is that the 5c nickel was a product of corporate welfare in the 1870s (?). Long story short, there used to be this "half-dime", which was replaced by a five cent nickel-based coin to prop up the sales of the nickel industry. Interesting stuff!

[aries]

For more examples of "obselete" money, check out APMEX...Interesting stuff!

Sure is! Thanks!

[burnthebeautiful]

Those notes are backed by bonds, not by gold and silver. They're not quite "real money", but closer to it than what we have now.

I thought Nixon abolished the gold standard?

The bonds might have been related to gold in the tresaury somehow.

Not sure 

I know that bonds-backed currency was made in some states before the gold-standard was abolished. Specifically I've heard they made bonds-backed currency during the civil war because they needed more money than there was gold to back it up.