Before electronic funds transfers they were used to move money between banks.
I saw the $10,000 in Las Vegas, there were a number of them on display at a casino and they were gold certificates unlike the $500 which was a Federal Reserve note [IOU] like today’s money.
They are worth more to collectors than their face value, and I distorted the bill I used, as they were bigger and not in the same proportion as what we carry around today.
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