Silver Certificates

Description

Certificates circulated widely throughout the United States, mainly in the $1 denomination, in the years following 1934. However, Silver Certificates began disappearing from circulation during the 40’s and 50’s – the number of Silver Certificates in circulation was in direct correlation to the amount of silver bullion in the U.S. Treasury vaults. As people redeemed the certificates for bullion or silver dollars, the notes were shredded, because the notes had lost their backing and could not be recirculated unless there was more silver being produced. The price of silver was also rising. In 1960, it was nearing $1.29, meaning a Silver Dollar was worth more than $1; it happened that people would receive their silver dollars and melt them down for the bullion, thereby reducing the amount of silver in circulation, which was already falling. In March 1964, Secretary of the Treasury halted redemption of Silver Certificates for Silver Dollars. In the 1970s, large numbers of the remaining silver dollars in the mint vaults were sold to the collecting public for collector value. Silver Certificates were abolished by Congress on June 4, 1963 and all redemption in silver ceased on June 24, 1968. The actual Silver Certificates contained no real silver, but this Silver Certificate, through a very special process, has been enhanced and highlighted in real silver. Available is an uncirculated, 1957 authenticated Silver Certificate – 1957 was the final series printed for the $1 Silver Certificates. Certificate of Authenticity accompanies your purchase.