gold certificate

noun

Definition of gold certificate

: a paper certificate issued by a public treasury against deposited gold specifically : a certificate first issued in 1934 by the U.S. Treasury to be held only by Federal Reserve banks and exchanged under treasury license for gold at the rate prevailing at the time of exchange — compare gold bullion standard, gold standard, managed currency, silver certificate

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Cite this Entry

“Gold certificate.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/gold%20certificate. Accessed 27 Nov. 2021.

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