Gold Certificates were used from 1863 to 1933 in the United States as paper currency. A Gold certificate is a certificate of ownership that Gold owners hold instead of storing the actual Gold. Many collectors consider Gold Certificates the MVP (Most Valuable Paper) of banknote collecting. Especially since the Gold recall of 1933, where most notes were taken out of circulation and destroyed, making the notes highly valuable. Although Gold certificates are no longer produced and are not redeemable in Gold, they still maintain their legal tender status. Therefore, you may redeem your notes through the Treasury Department or any financial institution. The redemption, however, is at face via message on the note.
Michael Hillegas was the 1st Treasurer of the United States. Hillegas was a member of the Pennsylvania Provincial Assembly from 1765 to 1775 and served as Treasurer of the Committee of Safety under Benjamin Franklin in 1774. On July 29, 1775, the Continental Congress appointed Hillegas and fellow patriot George Clymerto to share the office of Treasurer of the United Colonies.
Because Hillegas edited the Declaration of Independence, when the Declaration of Independence was signed, Clymer's signature appeared on the document. After Clymer resigned on August 6, 1776, Hillegas assumed sole ownership of the office he held throughout the American Revolution, using much of his fortune to support the cause. His son, Samuel Hillegas, was also given the authority to sign a new currency known as "Continentals." In addition, Hillegas served briefly as quartermaster to the army and on occasional commissions. On September 9, 1776, the Continental Congress officially changed the country's name to the United States of America, but Hillegas's title formally changed in March 1778.
On September 11, 1789, Congress created the Treasury Department, and Alexander Hamilton took the oath of office as the first Secretary of the Treasury. Hillegas resigned on that same date, and Samuel Meredith was appointed Treasurer. Hillegas was also an early member of the American Philosophical Society, along with Benjamin Franklin. He died in Philadelphia and is buried near Franklin in Christ Church Burial Ground. Late in the 19th century, his descendants petitioned to have his portrait appear on the ten-dollar gold certificate in the series issued between 1907 and 1922.
