Quote:
Originally Posted by vintagetoppsguy
Check out this $20 bill from 1960. What does "REDEEMABLE IN LAWFUL MONEY AT THE UNITED STATES TREASURY, OR AT ANY FEDERAL RESERVE BANK" mean?
What is lawful money? Wasn't this $20 bill lawful money?
If so, how can you redeem it for lawful money if it's already lawful money?
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I have no idea what it really means. I can guarantee I would take a $20 bill over a chunk of silver worth the same any day of the week and twice on Sunday.
If I take 2 $10 bills and buy a $20 bill I have $20 at any point in time. Now if I take that $20 bill and buy silver I immediately lost value/money.