This chapter prescribes procedures relating to the custody of Gold Certificates, Series of 1934, formerly issued only to Federal Reserve Banks (FRBs) and now unissued, but held by FRBs and others for display purposes.
Section 3010 - Authority
The Secretary of the Treasury is authorized under 12 U.S.C. 391 to require FRBs to act as fiscal agents of the United States. The Secretary of the Treasury may prescribe regulations in connection with designated responsibilities under the Federal Reserve Act.
Section 3015 - General
The Department of the Treasury (Treasury) has withheld from destruction a limited number of Gold Certificates, Series of 1934, for historical and archival purposes. To store these certificates, which consist of several certificates of each denomination ($100, $1,000, $10,000, and $100,000), in a Treasury vault would not permit ready access by historical researchers, numismatists, and others having a need to refer to them or for viewing by the general public. Therefore, Treasury is allowing certificates that were withheld from destruction to be retained by FRBs that now hold them and by the Smithsonian Institution for display in their numismatic museums.
Section 3020 - Responsibilities of the Federal Reserve Banks and Other Custodians
The FRBs and other custodians of Gold Certificates have the responsibility to:
The FRBs and other custodians of Gold Certificates are not responsible for the loss or destruction of any Gold Certificate by fire, flood, or other act of God, civil commotion, riot, or act of war.
Section 3025 - Responsibilities of the Department of the Treasury
Treasury's responsibilities include:
Section 3030 - Accounting and Reporting Requirements
Custodians of Gold Certificates, Series of 1934, will either enter into an agreement with Treasury or give a receipt for the Gold Certificates held. Thereafter, no periodic reporting will be required except as outlined in Section 3020. Agreements and receipts on hand are listed in Appendix.
Inquiries and notifications concerning this chapter should be directed to:
Chief, Office of Currency Standards
Bureau of Engraving and Printing
Department of the Treasury
P.O. Box 37048
Washington, DC 20013
Telephone: (202) 874-2771
List of Custodians for Gold Certificates, Series of 1934
Name Arrangement Date Held Amount
Federal Reserve Bank of:
Atlanta Receipt 8/4/80 5 $500,000
Cleveland Agreement 10/2/78 4 111,100
Kansas City Receipt 7/28/80 16 444,400
Minneapolis Agreement 10/6/78 4 111,100
New York Receipt 7/11/80 8 222,200
Philadelphia Receipt 7/21/80 4 111,100
Richmond Agreement 5/22/78 4 111,100
Receipt 6/27/80 1 100
Institution Agreement 5/22/78 16 444,400
Service Custodian N/A 4111,100
TOTAL 66 $ 2,166,600