1928 Series Silver Certificate "Funnyback" Note

In 1928, the U.S. Government introduced small-size bank notes to save money on expensive, custom-made bank-note paper.  The first small-size Silver Certificate was the Series of 1928 $1 bill that is known as a “Funnyback” because of the unfamiliar design on the back.

The 1928 $1 Silver Certificate was backed by “ONE SILVER DOLLAR” in the United States Treasury, and it was the last Silver Certificate that was redeemable for a Silver Dollar.  All subsequent Silver Certificates were redeemable only for one dollar in silver.  The U.S. Mint stopped making Silver Dollars in 1935, and the Treasury stopped redeeming the notes for silver in 1968.  However, all Silver Certificates remain legal tender.

The front of the 1928 $1 Silver Certificate features the familiar portrait of George Washington that is still used on today’s one-dollar bills.  Unlike today’s Federal Reserve Notes that have a green Treasury seal and serial numbers, the seal and numbers on Silver Certificates are blue.  Due to the “funny” design on the back, many people in the late 1920’s thought this was a counterfeit or foreign note.  The phrase “In God We Trust” does not appear on this note - it was first added to the back design in 1935.

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