1920’s Coins and Banknotes

Real money was still in use in the 1920's. By this I mean that coins were made from precious and base metals and banknotes were redeemable for gold. This was prior to the U.S. government confiscating privately held gold, debasing the metallic content of coins and converting to a fiat money system.

Well known coins of the 1920's designed by Augustus Saint-Gaudens include the twenty-dollar "double eagle" gold piece, for the US Mint in 1905-7, still considered the most beautiful American coin ever issued as well as the $10 "Indian Head" gold eagle, both of which were minted from 1907 until 1933. Equally famous are the Morgan silver dollar and the Peace silver dollar.

The United States has minted different coin denominations at various times from 1792 to 1935: half-cent, 2-cent, 3-cent, 20-cent, $1.00, $2.50 (Quarter Eagle), $3.00, $5.00 (Half Eagle), $10.00 (Eagle), $20.00 (Double Eagle) and $50.00 (Half Union). Technically, all these coins are still legal tender at face value, though they are far more valuable today for their numismatic value, and for gold and silver coins, their precious metal value.

Here are a selection of 1920's coins for sale on eBay

 

1920's Banknotes