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gold certificate
gold certificate (in the US) n1. (Banking & Finance) a currency note issued exclusively to the Federal Reserve Banks by the US Treasury. It forms a claim on gold reserves deposited by the Federal Reserve Banks at the Treasury and is used to transfer interbank balances within the Federal Reserve System2. (Banking & Finance) Also called: gold note (formerly) a banknote issued by the US Treasury to the public and redeemable in goldgold certificate
Gold certificateCertificate of an investor that shows proof of ownership of gold bullion.Gold CertificateA document entitling one to ownership of a certain, stated amount of gold. Most of the time, gold investors hold gold certificates rather than the physical gold itself in order to avoid the expense, security issues, and other difficulties associated with owning gold. However, the holder of the gold certificate can take possession of the gold he/she owns upon demand.gold certificate A receipt of ownership for a stated quantity of gold. A certificate, usually issued by a major bank, allows an investor to own gold without actually taking possession of the metal. A commission is generally charged at the time of purchase.AcronymsSeeGC |