Was US Dollar ever backed by gold and silver?

Yes. Nixon took us off the gold standard.

[mod says]: removed off-topic response; as a gentle reminder, please use PM feature as appropriate-thanks.

I did. He didn’t answer. And how come you’re allowed to use the thread to talk to me about this other topic, but I can’t use it to talk to him?

Good Question!

off topic warning
lol, its better than him not posting the reason and us thinking you were putting up porn, right chica? : P

As for the question, I see some places where the gold standard was abolished in 1933 and other where it was done by Nixon in ‘72.

What am i missing?

@fireside: We did not quite get off the gold standard back then in 1933. Gold Coins were withdrawn from circulation, and the standard was reduced from 23.22 grains to 13.71 grains per dollar.

Nixon took us off the gold standard in ‘71 I thought? Either way it was Nixon in the ‘70’s.

@La_Chica_Gomela: see ^^—the part in between the [ ]

I could’ve PMd you I suppose, hopefully you can see it’s just my job not a privilege; I take no pleasure in taking down a comment btw.

Hasn’t this gone way off topic? I thought we were supposed to use the PM?? :)

http://en.wikipedia.org/wiki/Gold_standard
http://en.wikipedia.org/wiki/Silver_certificate

I actually have a Silver Certificate dollar bill; it looks like a regular dollar bill except part of it is printed in silver-ish ink.

Isn’t it the blue print. The gold certificate is red I think? The reserve was taking all of these out of circulation. I would def. hang on to it.

I still haven’t gotten a single PM from you, snfreQ. And I still don’t understand why it’s okay for a mod to do the exact same thing that I did.

Still no PMs….

Please take this conversation private. Thanks.

http://www.fluther.com/disc/5797/why-should-the-dollar-be-backed-by-gold/

The next to last post from that thread is an amazing explanation for what is going on right now. It was written by Maudie.

@snd, critter: If you look, a GC will have a gold DoT seal on it, and a SC will have blue. That’s on ones. Once you get into bigger bills, the color of the bills changes as well. The $100k is largely gold.

The $100K notes weren’t just largely gold, they were only printed in 1934 and were 100% gold certificates.

Boy this conversation gets interrupted a lot!
I can’t recall, but before Nixon, weren’t US Bills printed with something like “exchangeable for yyoz of…”?

They were exchangable for the dollar amount of gold or silver.