Treasury (Coin) Note refers to a type of representative money issued by the United States government from 1890 until 1893 under authority of the Sherman Silver Purchase Act in denominations of $1, $2, $5, $10, $20, $50, $100 and $1000. A $500 note was designed but never issued. Unlike other redemption notes like silver and gold certificates, (which stipulated whether the note was backed by and redeemable for silver or gold coin, respectively) treasury notes stipulated only that they were redeemable in coin. This allowed the Treasury to fulfill the note's obligation in silver coin, gold coin, or both, at its discretion when the note was redeemed. This flexibility allowed the Treasury some control over releasing gold or silver when the relative value of the two metals fluctuated.