Silver Certificates

Silver and gold have been the foundation for just about every single economy in the world.  Rightly so as well.  On top of being utilized as currency for over two thousand years, these two precious metals have many uses from circuitry to jewelry.  With how intrinsically important these elements were (and still are), it’s no wonder that when the United States was leaving the old era of transactions behind and was transitioning into the modern era, that some of the bills put into circulation were directly backed by silver. Such notes used to be legal tender in the United States but are now obsolete. These notes are titled “Silver Certificates” and are some of the most collectable pieces of paper currency there are.

Foreign notes are also gaining traction in the collecting community, so keep reading to learn more about this historic era of paper money and browse GovMint.com's selection of notes to start your banknote collection today.

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Collecting Silver Certificates

Depending upon the condition and year of issue of a given note, they can still be highly collectible. Issued from the years 1878-1964 by the United States, these notes were backed by silver and were able to be redeemed for what their face value was worth in silver coins. Many silver certificates are still available to add to your collection, including the famous Silver Certificate Indian chief, the Silver Certificate “Educational Series,” Silver Certificates from the World War II era, and many more. 

Monetary Works of Art

Within the category of Silver Certificates are pieces that should absolutely be treated as works of art.  Take the Educational Series for example which was issued by the United States Mint in the late 1890s. On the orders of then Chief of the Bureau of Printing and Engraving, Claude Johnson, new designs were crafted for paper currency. Three different paper notes that depict the personification of concepts like “History” “Science” and “Electricity” educating others. These designs were made by muralists and truly show the artistry that can come from a paper note.  The United States Silver Certificates are both works of art on a paper canvas as well as historical monuments and numismatic time capsules. 

What Is a Silver Certificate?

A silver certificate was a type of legal tender in the form of paper currency that allowed the owner or holder of the certificate to own silver without physically having the precious metal. Issued by the United States government in 1878, these certificates eventually were phased out in 1964. At the time of their use, each Silver Certificate represented ​​​​​a specific amount of silver bullion that was deemed payable to the bearer on demand.

History of the U.S. Silver Certificate

Silver Certificates came in two sizes. In general, Silver Certificates were similar to the dimensions of the current U.S. Dollar Bill. With that being said, the first releases of the Silver Certificate were slightly larger, with 1923 being the last of the large-sized notes. The larger certificates ranged in denominations from $1 to $1,000, while the smaller-sized certificates were available mainly in the lower-ranged denominations.

Like current U.S. paper currency, these Silver Certificates featured portraits of notable Americans like George Washington, Abraham Lincoln, and Ulysses Grant. From 1878 to 1964, Silver Certificates were an integral part of the economy, and in March 1964, it was announced by the U.S. Treasury Secretary that these certificates would no longer be redeemable for silver dollars. Shortly after this announcement, the government stopped printing Silver Certificates altogether. 

At the time of their circulation, there were five different issues of Silver Certificates: 

  1. Series 1878 and 1880: Issued in denominations of $10 to $1,000, these first notes were labeled as "Certificates of Deposit," which indicated that the required silver dollars were already deposited by the government with the Treasury Department of the United States.
  2. Series 1886, 1891, and 1908: These years expanded the available denominations all the way down to $1 Silver Certificates and still up to $1,000 notes.
  3. The "Educational Series" of 1896: This series is considered one of the most artistically designed paper currencies that the U.S. government has printed. These Silver Certificates only consisted of three denominations: $1, $2, and $5.
  4. Series of 1899: Like the “Educational Series,” the Silver Certificates printed in this series consisted of only the three lower denominations: $1, $2, and $5. They also had another beautiful example of American artistry as it was featured on the $5 "Indian Chief Note," designed after the Chief "Running Antelope."
  5. Series of 1923 through 1957: These were the years where multiple issues of silver certificates were printed, beginning in 1923, which was the last of the notes in the larger dimensions. Another interesting thing about these years was that they were only available in $1 and $5 notes. 

Are Silver Certificates Still Valid?

Silver certificates are still valid as legal tender, circulating at the face value of the note, making them exchangeable for a federal reserve note. However, depending upon the age and condition of any particular Silver Certificate, they may have a numismatic appeal to collectors and dealers that is worth more than the face value printed on the note.

Can You Still Redeem Silver Certificates?

The redemption period to exchange Silver Certificates for silver ended June 24, 1968, a deadline set by Congress. Since that date, there has been no obligation to issue and exchange silver in any form for any denomination of Silver Certificate.

Collecting Silver Certificates

Depending upon the condition and year of issue of a given note, silver certificates can still be highly collectible. Issued from the years 1878-1964 by the United States, these notes were backed by silver and were able to be redeemed for what their face value was worth in silver coins. Many silver certificates are still available to add to your collection, including the famous Silver Certificate Indian chief, the Silver Certificate “Educational Series,” Silver Certificates from the World War II era, and many more. 

Although Silver Certificates are not actual silver bullion, there are a number of reasons to collect. For starters, they are works of art, beautifully designed and drawn to depict American images that are not found on modern paper currency. Silver certificates also represent an interesting time in American monetary history, not to mention the years designed also have historical significance, especially for WWII enthusiasts.

Collecting Silver Certificates does not need to be difficult either as there are a number of reputable dealers of these historic U.S. notes, with GovMint.com being among the most reputable. 

Monetary Works of Art

Within the category of Silver Certificates are pieces that should absolutely be treated as works of art.  Take the Educational Series for example which was issued by the United States Mint in the late 1890s. On the orders of then Chief of the Bureau of Printing and Engraving, Claude Johnson, new designs were crafted for paper currency. Three different paper notes that depict the personification of concepts like “History” “Science” and “Electricity” educating others. These designs were made by muralists and truly show the artistry that can come from a paper note.  The United States Silver Certificates are both works of art on a paper canvas as well as historical monuments and numismatic time capsules. 

Purchasing Silver Certificates at GovMint

Since 1984, GovMint.com has been one of the largest collectible coin marketers in the country, and through our various endeavors, we have been able to provide collectors like you with many leading-edge product introductions and new innovations in the collecting field. Although GovMint.com specializes in numismatic services, this has not stopped us from expanding our collectible products to paper currency to include U.S. Silver Certificates.

GovMint.com is an authorized dealer for coins that are authenticated, certified, and graded by Numismatic Guaranty Corporation (NGC) and Professional Coin Grading Service (PCGS), and with our A+ Better Business Bureau rating, all this further indicates the highest degree of confidence in our operations and customer service.