Silver Certificate Type Set

The Series of 1923 $1 Silver Certificate was America’s last large-size bank note, while the Series of 1928 and Series of 1934 $1 Silver Certificates were America’s first small-size bank notes. These bank notes are fascinating pieces of history, but they disappeared from circulation up to 70 years ago. They are in Very Fine or better condition and are presented in a lovely display folder with a Certificate of Authenticity.

Until 1928, America’s bank notes were much larger than today’s bank notes. The last of the large-size $1 bills was made in the Series of 1923. It looks similar to a modern $1 bill, except for the large size. The first of the small-size bank notes was introduced in the Series of 1928.

This collection features the Series of 1923 $1 Silver Certificate that was America’s last large-size bank note plus the Series of 1928 $1 Silver Certificate that was America’s first small-size bank note, as well as the short-lived Series of 1934 $1 Silver Certificate that was the second small-size Silver Certificate.  Silver Certificates are the only bank notes that have a blue Treasury seal and serial numbers. (Today’s Federal Reserve Notes have a green Treasury seal and serial numbers.)

The Series of 1923 $1 Silver Certificate is about 50% bigger than today’s notes – and was so large that it was called a “Horseblanket.” What’s more, it was backed by silver that was stored at the U.S. Treasury. The silver was actually exchangeable for “One Silver Dollar” at the U.S. Treasury. In 1923, you could have taken this Silver Certificate to the Treasury and redeemed it for a Morgan or Peace Silver Dollar. Because of this, Silver Certificates were trusted by the American public. They were just as valuable as the actual Silver Dollars, unlike today’s Federal Reserve bank notes which are backed only by the faith of the Government and not by precious metal.

The inscription reads, “This certifies that there is on deposit in the Treasury of the United States of America ONE SILVER DOLLAR payable to the bearer on demand.“

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