On Wednesday, October 1, 2003, at 02:32 PM, Gold Pages Staff wrote:
I have seven great photo copies here from 1899 - 1957.
http://www.liberty-silver.net/US_Silver-Gold_Certificates.htm
Including the US 1922 $10 Large Size Gold Note
which states ...."Payable to bearer on demand, ten dollars in gold coin"
Typically this meant that if you presented the note at a Treasury window, you would receive a gold "Eagle" coin in return. A gold Eagle consists of 247.5 grains of pure gold combined with 22.5 grains of silver and copper for a total mass of 270 grains.
Since there are 480 grains to a troy ounce, the Eagle actually contains just over half an ounce of pure gold -- 0.515625 oz to be exact. That a conversion ratio of about $19.39 per ounce, slightly less than the $20 per ounce figure you ordinarily hear about.
-- Patrick
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