Emergency Banking Relief Act of 1933: The Legislation That Replaced Gold-Payable Currency with Federal Reserve Notes
The Emergency Banking Relief Act of 1933 reshaped the entire foundation of American currency almost overnight, ending the gold-redeemable era and cementing Federal Reserve Notes as the nation’s sole circulating paper money. Understanding this pivotal legislation is essential for any collector who wants to grasp why notes printed before and after 1933 look, feel, and read so differently.
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