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TeachMeFinance.com - explain Currency certificate historic definition... Currency certificate -- Sometimes called legal tender certificate ; a certificate (or receipt) for United States notes (greenbacks) deposited in the Treasury or in any Sub-Treasury of the United States; of the denomination of $10,000 (at one time also $5,000) ; authorized by the act of June 8, 1872 ; authorization repealed and issuance discontinued by the act of March 14, 1900. The certificate bore no interest and was not a legal tender. The notes represented by the certificates were merely a special deposit and the certificate, which was transferable, was redeemable at the place where issued. Currency certificates were chiefly used in the settlement of clearing house balances and for holding in the reserves of banks. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.