The Nixon Shock of August 1971: How the End of Bretton Woods Changed the Legal Status of Federal Reserve Notes Overnight
On August 15, 1971, President Nixon’s televised announcement severed the last link between Federal Reserve Notes and gold, transforming every bill in American wallets from a conditional promise into pure fiat currency. For collectors, this monetary earthquake left a fascinating paper trail: the notes printed before and after that Sunday night carry fundamentally different legal meanings, and knowing exactly where that line falls can sharpen both your historical understanding and your acquisition strategy.
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