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US Treasury : Federal Notes have no Value for themselves

From the Archives : Originally published June 26th, 2009

43 words - Reading time : less than a minute

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FOLLOW : Federal Reserve Legal Tender

Disclaimer

Category : Fundamental

Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything.

This has been the case since 1933.

The notes have no value for themselves, but for what they will buy.

US Treasury Website

http://www.treas.gov/education/faq/currency/l...&IMAGE.Y=10

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Average note :5 (3 votes)

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