What is a "silver certificate?"

Answer by  rhelt (461)

Silver certificates were produced in the US from 1878 to 1964. They look almost identical to the paper currency we use today. Until 1968, a $1 silver certificate could be exchanged for a silver dollar coin. Many people collect silver certificates so they have some value.

Answer by  riTch (99)

For one thing, silver certificates are but obsolete nowadays yet are still valid legal tender but no longer redeemable in silver. Being part of United States' circulation of paper currency from 1878 to 1964, silver certificates are a type of representative money. As a paper money, they were once redeemable in silver coin.

Answer by  joken (43)

Silver certificate is a representative money in the United States. It was produced from 1878-1964. These certificates were redeemable in the value of a silver dollar coins and are only in the Federal Reserve Notes. These certificates can be distinguished on its color in the seal and its serial numbers.

Answer by  bmoney (14)

A silver certificate is a form of paper currency that was printed in the United States from 1878 until 1964. United States dollars used to be redeemable for silver. Silver certificates are still legal tender but may only be exchanged for Federal REserve Notes.

Answer by  chrisshah (172)

A silver certificate is a legacy of the Old Bretton Woods system where paper currency was directly tied to a precious metal. Owning sa silver certificate is akin to owning a promise from the government for a specific quantity of silver.