Unusual dollar banknote sold in Belarus for 40 times its exchange rate
An unusual lot appeared at an auction in Belarus: a $10 banknote, which is being sold at an exchange rate approximately 40 times higher than usual — for a minimum of Br1200. And the price may still rise, as bidding has just begun, writes Tochka.by.
Such an inconsistency is very simple to explain: the banknote is a collectible. This is a so-called US gold certificate from 1922. Such banknotes could at one time be exchanged for gold at face value — the owner could receive gold from the bank for the amount indicated on the bill.
The specimen is being sold in Very Good (VG) condition — meaning the banknote is well-preserved but shows signs of use. For collectors, such a condition is considered acceptable and even attractive.
Gold certificates were issued in the USA from 1879 to 1934 and were primarily used in banks and government institutions. The $10 denomination was the smallest — there were also banknotes for $20, $50, $100, $500, and even $100,000 (the latter, however, did not enter general circulation).
Such money disappeared from circulation after President Franklin Delano Roosevelt abolished the gold standard in 1933. Today, they formally remain valid but are not used in daily transactions and are valuable precisely as rare collectible items.
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