Silver Certificates are dollar bills issued by the US government from 1878. They were a part of the paper currency that people could buy at face value with real silver. These certificates allowed investors to store silver without having to hold the metal itself. They were then discontinued in 1964 and no longer have any monetary value as a substitute for silver.
- Silver Certificates are dollar bills issued by the US government as paper currency in 1878.
- They allowed people to hold silver without having to hold the metal itself.
- In March 1964, silver certificates became irredeemable for real silver and could only be exchanged for cash at face value.
Why were they created?
Silver certificates were designed to help investors buy silver without holding the metal itself. In 1878, the US government began exchanging silver coins for certificates with the US Department of the Treasury.
Initial silver certificates were larger than those issued later. They were more like the modern US dollar bills that are now in circulation. Larger certificates range in value from $1 to $1,000, while smaller sized bills are considered to be of lower value.
The certificates were beautifully designed and have portraits of noble Americans such as George Washington, Abraham Lincoln and Ulysses Grant on the front side. In March 1964, silver certificates became irredeemable for real silver and could only be exchanged for cash at face value.
Now they have become collectibles, the most popular and liked form of American currency in history. Many unusual prints and designs are sought after by collectors today and they can be worth more than the original value.
What silver certificates are worth today?
The value of a silver certificate depends on its condition and year of issue. All Silver Certificates are legal tender but cannot be exchanged for real silver. You can exchange them for modern currencies at the Federal Reserve.
Many collectors will pay you a little more than the face value of most certificates because of their history. The rarest silver certificates you can find are the 1928C, 1928D, and 1928E versions which you can easily get for $100-$600 if they are in good condition.