The transfer and storage of gold can become quite expensive. Due to this fact, a lot of people decide to get gold certificates. With a gold certificate, you will be able to completely avoid any risks that may come about in this situation. You will also be able to avoid the costs that are associated with physical gold. These certificates were issued and used first in the 17th century. The first paper money was gold certificates. In today’s society, these certificates are still used and available in different countries from different banks.
There are two types of certificates that you should know about. These two certificates are allocated and unallocated. These terms are also referred to as fully reserved and pooled. Certificates that are unallocated are set in a form of fractional reserve banking. This is a form of banking that the bank maintains reserves, or deposits of the customer. Allocated certificates, on the other hand, are associated and marked with special numbers. Even though it is quite difficult to tell if a bank is properly or improperly allocating a gold bar to one or more persons, people still use this method. In the United States, the gold certificates were allowed to be used in 1863. Here are a few examples of some extraordinary gold certificates.