The gold certificate was used from 1882 to 1933 in the United States as a form of paper currency. Each certificate gave its holder title to its corresponding amount of gold coin
In 1933 the practice of redeeming these notes for gold coins was ended by the U.S. government and until 1964 it was actually illegal to possess these notes. In 1964 these restrictions were lifted, primarily to allow collectors to own examples legally, however the issue technically converted to standard 'legal tender' with no connection to gold. When U.S. paper money was modernized (made smaller, with fewer variations or "types", as with current paper money) in 1928, gold certificates ceased to be issued.

When the U.S. was taken off the gold standard in 1933, gold certificates were withdrawn from circulation. As noted above, it was illegal to own them. That fact, and public fear that the notes would be devalued and made obsolete, resulted in the majority of circulating notes being retired. In general, the notes are scarce and valuable, especially examples in "UNC" condition. ENJOY!!

Today's note is a 1922 issue $20 Gold Certificate. The book value is currently aprox. $850 ~ $1000, the exchange rate is $20. LOL (It is still a valid note today)

(Front) Portrait of George Washington at center. "This Certifies there have been Deposited in the Treasury of the United States of America TWENTY DOLLARS in Gold Coin payable to the bearer on demand." (Back) The Great Seal and Twenty Dollars at center. GOLD CERTIFICATE at center.