5 dollar bill
Last updated 2 years ago
Prior to 1964, the USA was "on the silver standard." The government controlled the price of silver, and silver certificates were bills that could be exchanged for a specific amount of the metal. Denominations used in the 20th century were one dollar, five dollars, and ten dollars. The government was allowed to print only as many bills as there was silver in the Treasury to redeem them, which helped to control the money supply. Silver certificates in fact were little more than a receipt or dee...