Silver certificate (United States)

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$5 Series 1899 silver certificate depicting Running Antelope
$5 Series 1899 silver certificate depicting Running Antelope of the Sioux.
The $1 silver certificate from the Hawaii overprint series.

Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency.[1] They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard.[2] The certificates were initially redeemable for their face value of silver dollar coins and later (for one year – 24 June 1967 to 24 June 1968) in raw silver bullion.[1] Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender.[1]

Large-size silver certificates (1878 to 1923)[nb 1] were issued initially in denominations from $10 to $1,000 (in 1878 and 1880)[4][5] and in 1886 the $1, $2, and $5 were authorized.[5][6] In 1928, all United States bank notes were re-designed and the size reduced.[7] The small-size silver certificate (1928-1964) was only issued in denominations of $1, $5, and $10.[8] The complete type set below is part of the National Numismatic Collection at the Smithsonian’s National Museum of American History.

History[edit]

The Coinage Act of 1873 intentionally[9][10] omitted language authorizing the coinage of “standard”[2] silver dollars[11] and ended the bimetallic standard[12] that had been created by Alexander Hamilton.[13][nb 2] While the Coinage Act of 1873 stopped production of silver dollars, it was the 1874 adoption of Section 3568 of the Revised Statutes that actually removed legal tender status from silver certificates in the payment of debts exceeding five dollars.[15] By 1875 business interests invested in silver (e.g., Western banks, mining companies) wanted the bimetallic standard restored. People began to refer to the passage of the Act as the Crime of '73. Prompted by a sharp decline in the value of silver in 1876, Congressional representatives from Nevada and Colorado, states responsible for over 40% of the world’s silver yield in the 1870s and 1880s,[16] began lobbying for change. Further public agitation for silver use was driven by fear that there was not enough money in the community.[17] Members of Congress claimed ignorance that the 1873 law would lead to the demonetization of silver,[18] despite having had three years to review the bill prior to enacting it to law.[19] Some blamed the passage of the Act on a number of external factors including a conspiracy involving foreign investors and government conspirators.[11] In response, the Bland–Allison Act, as it came to be known, was passed by Congress (over a Presidential veto)[20] on 28 February 1878. It did not provide for the "free and unlimited coinage of silver" demanded by Western miners, but it did require the United States Treasury to purchase between $2 million and $4 million of silver bullion per month[21][22] from mining companies in the West, to be minted into coins.[nb 3]

Large-size silver certificates[edit]

The first silver certificates (Series 1878) were issued in denominations of $10 through $1,000. [nb 4] Reception by financial institutions was cautious.[25] While more convenient and less bulky than dollar coins, the silver certificate was not accepted for all transactions.[26] The Bland–Allison Act established that they were “receivable for customs, taxes, and all public dues,”[20] and could be included in bank reserves,[22] but silver certificates were not explicitly considered legal tender for private interactions (i.e., between individuals).[22] Congress used the National Banking Act of 12 July 1882 to clarify the legal tender status of silver certificates[27] by clearly authorizing them to be included in the lawful reserves of national banks.[28] A general appropriations act of 4 August 1886 authorized the issue of $1, $2, and $5 silver certificates.[6][29] The introduction of low-denomination currency (as denominations of U.S. Notes under $5 were put on hold) greatly increased circulation.[30] Over the 12-year lifespan of the Bland–Allison Act, the United States government would receive a seigniorage amounting to roughly $68 million (between $3 and $9 million per year),[31] while absorbing over 60% of U.S. silver production.[31]

Small-size silver certificates[edit]

Treasury Secretary Franklin MacVeagh (1909–13) appointed a committee to investigate possible advantages (e.g., reduced cost, increased production speed) to issuing smaller sized United States banknotes.[32] Due in part to the outbreak of World War I and the end of his appointed term, any recommendations may have stalled. On 20 August 1925, Treasury Secretary Andrew W. Mellon appointed a similar committee and in May 1927 accepted their recommendations for the size reduction and redesign of U.S. banknotes.[32] On 10 July 1929 the new small-size currency was issued.[33]

In response to the Japanese attack on Pearl Harbor, the Hawaii overprint note was ordered from the Bureau of Engraving and Printing on 8 June 1942.[33] Issued in denominations of $1, $5, $10, and $20, only the $1 was a silver certificate, the others were Federal Reserve Notes.[34] Stamped “HAWAII” (in small solid letters on the obverse and large letters on the reverse), with the Treasury seal and serial numbers in brown, these notes could be demonetized in the event of a Japanese invasion.[35] Additional World War II emergency currency was issued in November 1942 for circulation in Europe and Northern Africa.[33] Printed with a bright yellow seal, these notes ($1, $5, and $10) could be demonetized should the United States lose its position in the European or North African campaigns.[34]

End of the silver certificates[edit]

In the nearly three decades since passage of the Silver Purchase Act of 1934, the annual demand for silver bullion rose steadily from roughly 11 million ounces (1933) to 110 million ounces (1962).[36] The Acts of 1939 and 1946 established floor prices for silver of 71 cents and 90.5 cents (respectively) per ounce.[36] Predicated by an anticipated shortage of silver bullion,[37][38] Public Law 88-36 (PL88-36) was enacted on 4 June 1963 which repealed the Silver Purchase Act of 1934, and the Acts of 6 July 1939 and 31 July 1946,[39] while providing specific instruction regarding the disposition of silver held as reserves against issued certificates and the price at which silver may be sold. [nb 5] It also amended the Federal Reserve Act to authorize the issue of lower denomination notes (i.e., $1 and $2),[39] allowing for the gradual retirement (or swapping out process) of $1 silver certificates and releasing silver bullion from reserve.[38] In repealing the earlier laws, PL88-36 also repealed the authority of the Secretary of the Treasury to control the issue of silver certificates. By issuing Executive Order 11110, President John F. Kennedy was able to continue the Secretary’s authority.[40] While retaining their status as legal tender, the silver certificate had effectively been retired from use.[33]

In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of silver certificates for coined silver dollars; during the following four years, silver certificates were redeemable in uncoined silver "granules."[37] All redemption in silver ceased on 24 June 1968.[1]

Issue[edit]

Series and varieties[edit]

Series and varieties of large-size silver certificates[41]
Series Value Features/varieties
1878 and
1880

[nb 6]

$10
$20
$50
$100
$500
$1,000
In addition to the two engraved signatures customary on United States banknotes (the Register of the Treasury and Treasurer of the United States), the first issue of the Series 1878 notes (similar to the early Gold Certificate) included a third signature of one of the Assistant Treasurers of the United States (in New York, San Francisco, or Washington DC).[43] Known as a countersigned or triple-signature note, this feature existed for the first run of notes issued in 1880, but was then removed from the remaining 1880 issues.[5]
1886 $1
$2
$5
$10
$20
The Act of 4 August 1886 authorized the issue of lower denomination ($1, $2, and $5) silver certificates.[44] Similar to the Series 1878/1880 notes, the Treasury seal characteristics (size, color, and style) varies with the change of the Treasury signatures.[45] The series is known for the ornate engraving on the reverse of the note.
1891 $1, $2
$5, $10
$20, $50
$100
$1,000
The Bureau of Engraving and Printing introduced the process of “resizing” paper for Series 1891 notes.[46]
1896 $1
$2
$5
The Educational Series is considered to be the most artistically designed bank notes printed by the United States.[5]
1899 $1
$2
$5
Large-size silver certificates from the Series of 1899 forward have a blue Treasury seal and serial numbers.[47]
1908 $10
1923 $1
$5

Large-size United States silver certificates (1878-1923)[edit]

Complete typeset of large-size United States silver certificates (1878-1923)[48]
Value Series Fr.[nb 7] Image Portrait Signature & seal varieties[nb 8]
$1 1886 Fr.217 alt=$1 Silver Certificate, Series 1886, Fr.215, depicting Martha Washington Martha Washington 215 – Rosecrans and Jordan – small red, plain

216 – Rosecrans and Hyatt – small red, plain
217 – Rosecrans and Hyatt – large red
218 – Rosecrans and Huston – large red
219 – Rosecrans and Huston – large brown
220 – Rosecrans and Nebecker – large brown
221 – Rosecrans and Nebecker – small red, scalloped

$1 1891 Fr.223 $1 Silver Certificate, Series 1891, Fr.223, depicting Martha Washington Martha Washington 222 – Rosecrans and Nebecker – small red, scalloped

223 – Tillman and Morgan – small red, scalloped

$1 1896 Fr.224 $1 Silver Certificate, Series 1896, Fr.224, depicting allegory entitled "History Instructing Youth" Allegory History Instructing Youth (obv); George Washington & Martha Washington (rev) 224 – Tillman and Morgan – small red, rays

225 – Bruce and Roberts – small red, rays

$1 1899 Fr.226 $1 Silver Certificate, Series 1899, Fr.226, depicting Abraham Lincoln and Ulysses Grant Abraham Lincoln & Ulysses Grant 226 – Lyons and Roberts – blue

227 – Lyons and Treat – blue
228 – Vernon and Treat – blue
229 – Vernon and McClung – blue
230 – Napier and McClung – blue
231 – Napier and Thompson – blue
232 – Parker and Burke – blue
233 – Teehee and Burke – blue
234 – Elliott and Burke – blue
235 – Elliott and White – blue
236 – Speelman and White – blue

$1 1923 Fr.239 $1 Silver Certificate, Series 1923, Fr.239, depicting George Washington George Washington 237Speelman and White – blue

238 – Woods and White – blue
239 – Woods and Tate – blue

$2 1886 Fr.242 $2 Silver Certificate, Series 1886, Fr.242, depicting Winfield Scott Hancock Winfield Scott Hancock 240 – Rosecrans and Jordan – small red

241 – Rosecrans and Hyatt – small red
242 – Rosecrans and Hyatt – large red
243 – Rosecrans and Huston – large red
244 – Rosecrans and Huston – large brown

$2 1891 Fr.246 $2 Silver Certificate, Series 1891, Fr.246, depicting William Windom William Windom 245 – Rosecrans and Nebecker – small red

246 – Tillman and Morgan – small red

$2 1896 Fr.247 $2 Silver Certificate, Series 1896, Fr.1896, depicting allegory entitled "Science Presenting Steam and Electricity to Commerce and Manufacture" Allegory of Science Presenting Steam and Electricity to Commerce and Manufacture (obv); Robert Fulton & Samuel F.B. Morse (rev) 247 – Tillman and Morgan – small red

248 – Bruce and Roberts – small red

$2 1899 Fr.249 $2 Silver Certificate, Series 1899, Fr.249, depicting George Washington George Washington 249 – Lyons and Roberts – blue

250 – Lyons and Treat – blue
251 – Vernon and Treat – blue
252 – Vernon and McClung – blue
253 – Napier and McClung – blue
254 – Napier and Thompson – blue
255Parker and Burke – blue
256 – Teehee and Burke – blue
257 – Elliott and Burke – blue
258 – Speelman and White – blue

$5 1886 Fr.264 $5 Silver Certificate, Series 1886, Fr.264, depicting Ulysses Grant Ulysses Grant 259 – Rosecrans and Jordan – small red, plain

260 – Rosecrans and Hyatt – small red, plain
261 – Rosecrans and Hyatt – large red
262 – Rosecrans and Huston – large red
263 – Rosecrans and Huston – large brown
264 – Rosecrans and Nebecker – large brown
265 – Rosecrans and Nebecker – small red, scalloped

$5 1891 Fr.267 $5 Silver Certificate, Series 1891, Fr.267, depicting Ulysses Grant Ulysses Grant 266Rosecrans and Nebecker – small red, scalloped

267 – Tillman and Morgan – small red

$5 1896 Fr.270 $5 Silver Certificate, Series 1896, Fr.270, depicting allegory entitled "Electricity Presenting Light to the World" Allegory of Electricity Presenting Light to the World (obv); Ulysses Grant & Philip Sheridan (rev) 268 – Tillman and Morgan – small red

269 – Bruce and Roberts – small red
270 – Lyons and Roberts – small red

$5 1899 Fr.271 $5 Silver Certificate, Series 1899, Fr.271, depicting Running Antelope Running Antelope 271 – Lyons and Roberts – blue

272 – Lyons and Treat – blue
273 – Vernon and Treat – blue
274 – Vernon and McClung – blue
275 – Napier and McClung – blue
276 – Napier and Thompson – blue
277 – Parker and Burke – blue
278 – Teehee and Burke – blue
279 – Elliott and Burke – blue
280 – Elliott and White – blue
281 – Speelman and White – blue

$5 1923 Fr.282 $5 Silver Certificate, Series 1923, Fr.282, depicting Abraham Lincoln Abraham Lincoln 282 – Speelman and White – blue
$10 1878 Fr.285a* $10 Silver Certificate, Series 1878, Fr.285a, depicting Robert Morris Robert Morris 283 – Scofield and Gilfillan, CS by W.G. White – large red

284 – Scofield and Gilfillan, CS by J.C. Hopper – large red
284a – Scofield and Gilfillan, CS by T. Hillhouse* – large red
284b – Scofield and Gilfillan, CS by T. Hillhouse – large red
284c – Scofield and Gilfillan, CS by R.M. Anthony* – large red
285 – Scofield and Gilfillan, CS by A.U. Wyman* – large red
285a – Scofield and Gilfillan, CS by A.U. Wyman – large red

$10 1880 Fr.287 $10 Silver Certificate, Series 1880, Fr.287, depicting Robert Morris Robert Morris 286 – Scofield and Gilfillan, CS by T. Hillhouse – large brown with X

286a – Scofield and Gilfillan, CS by A.U. Wyman – large brown with X
287 – Scofield and Gilfillan – large brown with X
288 – Bruce and Gilfillan – large brown with X
289 – Bruce and Wyman – large brown with X
290 – Bruce and Wyman – large red without X

$10 1886 Fr.291 $10 Silver Certificate, Series 1886, Fr.291, depicting Thomas Hendricks Thomas Hendricks 291 – Rosecrans and Jordan – small red, plain

292 – Rosecrans and Hyatt – small red, plain
293 – Rosecrans and Hyatt – large red
294 – Rosecrans and Huston – large red
295 – Rosecrans and Huston – large brown
296 – Rosecrans and Nebecker – large brown
297 – Rosecrans and Nebecker – small red, scalloped

$10 1891 Fr.298 $10 Silver Certificate, Series 1891, Fr.298, depicting Thomas Hendricks Thomas Hendricks 298 – Rosecrans and Nebecker – small red

299 – Tillman and Morgan – small red
300 – Bruce and Roberts – small red
301 – Lyons and Roberts – small red

$10 1908 Fr.302 $10 Silver Certificate, Series 1908, Fr.302, depicting Thomas Hendricks Thomas Hendricks 302 – Vernon and Treat – blue

303 – Vernon and McClung – blue
304Parker and Burke – blue

$20 1878 Fr.307 $20 Silver Certificate, Series 1878, Fr.307, depicting Stephen Decatur Stephen Decatur 305 – Scofield and Gilfillan, CS by J.C. Hopper – large red

306 – Scofield and Gilfillan, CS by T. Hillhouse – large red
306a – Scofield and Gilfillan, CS by R.M. Anthony – large red
306b – Scofield and Gilfillan, CS by A.U. Wyman* – large red
307 – Scofield and Gilfillan, CS by A.U. Wyman – large red

$20 1880 Fr.311 $20 Silver Certificate, Series 1880, Fr.311, depicting Stephen Decatur Stephen Decatur 308 – Scofield and Gilfillan, CS by T. Hillhouse – large brown

309 – Scofield and Gilfillan – large brown
310 – Bruce and Gilfillan – large brown
311 – Bruce and Wyman – large brown
312 – Bruce and Wyman – small red

$20 1886 Fr.316 $20 Silver Certificate, Series 1886, Fr.316, depicting Daniel Manning Daniel Manning 313 – Rosecrans and Hyatt – large red

314 – Rosecrans and Huston – large brown
315 – Rosecrans and Nebecker – large brown
316 – Rosecrans and Nebecker – small red

$20 1891 Fr.317 $20 Silver Certificate, Series 1891, Fr.317, depicting Daniel Manning Daniel Manning 317 – Rosecrans and Nebecker – small red

318 – Tillman and Morgan – small red
319 – Bruce and Roberts – small red
320 – Lyons and Roberts – small red
321Parker and Burke – blue
322 – Teehee and Burke – blue

$50 1878 Fr.324 $50 Silver Certificate, Series 1878, Fr.324, depicting Edward Everett Edward Everett 323 – Scofield and Gilfillan, CS by W.C. White* or J.C. Hopper* – large red

324 – Scofield and Gilfillan, CS by T. Hillhouse – large red
324a – Scofield and Gilfillan, CS by R.M. Anthony – large red
324b – Scofield and Gilfillan, CS by A.U. Wyman* – large red
324c – Scofield and Gilfillan, CS by A.U. Wyman – large red

$50 1880 Fr.327 $50 Silver Certificate, Series 1880, Fr.327, depicting Edward Everett Edward Everett 325 – Scofield and Gilfillan – large brown, rays

326 – Bruce and Gilfillan – large brown, rays
327 – Bruce and Wyman – large brown, rays
328Rosecrans and Huston – large brown, spikes
329 – Rosecrans and Nebecker – small red

$50 1891 Fr.331 $50 Silver Certificate, Series 1891, Fr.331, depicting Edward Everett Edward Everett 330 – Rosecrans and Nebecker – small red

331 – Tillman and Morgan – small red
332 – Bruce and Roberts – small red
333 – Lyons and Roberts – small red
334 – Vernon and Treat – small red
335 – Parker and Burke – blue

$100 1878 Fr.337b $100 Silver Certificate, Series 1878, Fr.337b, depicting James Monroe James Monroe 336 – Scofield and Gilfillan, CS by W.G. White – large red

336a – Scofield and Gilfillan, CS by J.C. Hopper or T. Hillhouse – large red
337 – Scofield and Gilfillan, CS by R.M. Anthony* – large red
337a – Scofield and Gilfillan, CS by A.U. Wyman* – large red
337b – Scofield and Gilfillan, CS by A.U. Wyman – large red

$100 1880 Fr.340 $100 Silver Certificate, Series 1880, Fr.340, depicting James Monroe James Monroe 338– Scofield and Gilfillan – large brown, rays

339 – Bruce and Gilfillan – large brown, rays
340 – Bruce and Wyman – large brown, rays
341Rosecrans and Huston – large brown, spikes
342 – Rosecrans and Nebecker – small red

$100 1891 Fr.344 $100 Silver Certificate, Series 1891, Fr.344, depicting James Monroe James Monroe 343 – Rosecrans and Nebecker – small red

344 – Tillman and Morgan – small red

$500 1878 Fr.345a $500 Silver Certificate, Series 1878, Fr.345a, depicting Charles Sumner Charles Sumner 345a – Scofield and Gilfillan, CS by A.U. Wyman* – large red, rays
$500 1880 Fr.345c $500 Silver Certificate, Series 1880, Fr.345c, depicting Charles Sumner Charles Sumner 345b – Scofield and Gilfillan – large brown

345c – Bruce and Gilfillan – large brown
345d – Bruce and Wyman – large brown

$1,000 1878 Fr.346a $1000 Silver Certificate, Series 1878, Fr.346a, depicting William Marcy William Marcy 346a – Scofield and Gilfillan, CS unknown – large red, rays
$1,000 1880 Fr.346d $1000 Silver Certificate, Series 1880, Fr.346d, depicting William Marcy William Marcy 346b – Scofield and Gilfillan – large brown

346c – Bruce and Gilfillan – large brown
346d – Bruce and Wyman – large brown

$1,000 1891 Fr.346e $1000 Silver Certificate, Series 1891, Fr.346e, depicting William Marcy William Marcy 346e – Tillman and Morgan – small red



Small-size United States silver certificates (1928-1957)[edit]

Complete typeset of small-size United States silver certificates (1928-1957)[49]
Value Series Fr.[nb 9] Image Portrait Signature & seal varieties
$1 19281928 to 1928-E Fr.1600 $1 Silver Certificate, Series 1928, Fr.1600, depicting George Washington George Washington 1600 – Tate and Mellon (1928) – blue

1601 – Woods and Mellon (1928A) – blue[nb 10]
1602 – Woods and Mills (1928B) – blue
1603 – Woods and Woodin (1928C) – blue
1604 – Julian and Woodin (1928D) – blue
1605 – Julian and Morgenthau (1928E) – blue

$1 19341934 Fr.1606 $1 Silver Certificate, Series 1934, Fr.1606, depicting George Washington George Washington 1606 – Julian and Morgenthau (1934) – blue
$1 19351935 to 1935-G Fr.1607 $1 Silver Certificate, Series 1935, Fr.1607, depicting George Washington George Washington 1607 – Julian and Morgenthau (1935) – blue

1608 – Julian and Morgenthau (1935A)– blue
1609 – Julian and Morgenthau (1935A) R-Exp – blue.[nb 11]
1610 – Julian and Morgenthau (1935A) S-Exp – blue
1611 – Julian and Vinson (1935B) – blue
1612 – Julian and Snyder (1935C) – blue
1613W – Clark and Snyder (1935D) Wide – blue[nb 12]
1613N – Clark and Snyder (1935D) Narrow – blue
1614 – Priest and Humphrey (1935E) – blue
1615 – Priest and Anderson (1935F) – blue
1616 – Smith and Dillon (1935G) – blue

$1 19571935-G to 1957-B Fr.1619 $1 Silver Certificate, Series 1957, Fr.1619, depicting George Washington George Washington 1617 – Smith and Dillon (1935G) – blue[nb 13]

1618 – Granahan and Dillon (1935H) – blue
1619 – Priest and Anderson (1957) – blue
1620 – Smith and Dillon (1957A) – blue
1621 – Granahan and Dillon (1957B) – blue

$5 19341934 to 1934-D Fr.1650 $5 Silver Certificate, Series 1934, Fr.1650, depicting Abraham Lincoln Abraham Lincoln 1650 – Julian and Morgenthau (1934) – blue

1651 – Julian and Morgenthau (1934A) – blue
1652 – Julian and Vinson (1934B) – blue
1653 – Julian and Snyder (1934C) – blue
1654 – Clark and Snyder (1934D) – blue

$5 19531953 to 1953-C Fr.1655 $5 Silver Certificate, Series 1953, Fr.1655, depicting Abraham Lincoln Abraham Lincoln 1655 – Priest and Humphrey (1953) – blue

1656 – Priest and Anderson (1953A) – blue
1657 – Smith and Dillon (1953B) – blue
1658 – Granahan and Dillon (1953C) – blue[nb 14]

$10 19331933 to 1933-A Fr.1700 $10 Silver Certificate, Series 1933, Fr.1700, depicting Alexander Hamilton Alexander Hamilton 1700 – Julian and Woodin (1933) – blue[nb 15]

1700a – Julian and Morgenthau (1933A) – blue[nb 14]

$10 19341934 to 1934-D Fr.1701 $10 Silver Certificate, Series 1934, Fr.1701, depicting Alexander Hamilton Alexander Hamilton 1701 – Julian and Morgenthau (1934) – blue

1702 – Julian and Morgenthau (1934A) – blue
1703 – Julian and Vinson (1934B) – blue
1704 – Julian and Snyder (1934C) – blue
1705 – Clark and Snyder (1934D) – blue

$10 19531953 to 1953-B Fr.1706 $10 Silver Certificate, Series 1953, Fr.1706, depicting Alexander Hamilton Alexander Hamilton 1706 – Priest and Humphrey (1953) – blue

1707 – Priest and Anderson (1953A) – blue
1708 – Smith and Dillon (1953B) – blue

$1 1935-A1935-A Fr.2300 $1 Silver Certificate, Series 1935A, Fr.2300, depicting George Washington George Washington 2300 – Julian and Morgenthau – brown
$1 1935-A1935-A Fr.2306 $1 Silver Certificate, Series 1935A, Fr.2306, depicting George Washington George Washington 2306 – Julian and Morgenthau (1935A) – yellow
$5 1934-A1934-A Fr.2307 $5 Silver Certificate, Series 1934A, Fr.2307, depicting Abraham Lincoln Abraham Lincoln 2307 – Julian and Morgenthau (1934A) – yellow
$10 1934-A1934 to 1934-A Fr.2309 $10 Silver Certificate, Series 1934A, Fr.2309, depicting Alexander Hamilton Alexander Hamilton 2308 – Julian and Morgenthau (1934) – yellow

2309 – Julian and Morgenthau (1934A) – yellow

See also[edit]



Footnotes[edit]

  1. ^ Large size notes represent the earlier types or series of U.S. banknotes. Their "average" dimension is 7.375 x 3.125 inches (187 x 79 mm). Small size notes (described as such due to their size relative to the earlier large size notes) are an "average" 6.125 x 2.625 inches (156 x 67 mm), the size of modern U.S. currency. "Each measurement is +/- 0.08 inches (2mm) to account for margins and cutting".[3]
  2. ^ Some have suggested that the bimetallic standard was actually initiated by Thomas Jefferson.[14]
  3. ^ Although the exact monthly purchase was left to the discretion of the Secretary of the Treasury, the $2 million minimum was never exceeded.[23]
  4. ^ “The act of February 28, 1878, also authorized the holder of these silver dollars to deposit: the same with the Treasurer, or any Assistant Treasurer, of the United States, in sums not less than ten dollars, and receive therefor certificates of not less than ten dollars each, corresponding with the denominations of the United States notes.”[24]
  5. ^ “SEC. 2. The Secretary of the Treasury shall maintain the ownership and the possession or control within the United States of an amount of silver of a monetary value equal to the face amount of all outstanding silver certificates. Unless the market price of silver exceeds its monetary value, the Secretary of the Treasury shall not dispose of any silver held or owned by the United States in excess of that required to be held as reserves against outstanding silver certificates, but any such excess silver may be sold to other departments and agencies of the Government or used for the coinage of standard silver dollars and subsidiary silver coins. Silver certificates shall be exchangeable on demand at the Treasury of the United States for silver dollars or, at the option of the Secretary of the Treasury, at such places as he may designate, for silver bullion of a monetary value equal to the face amount of the certificates”.[39]
  6. ^ Notes issued under a given Series (e.g., Series 1880, Series 1899) are, in some cases, released over a period of years, as reflected in the Friedberg number signature and seal varieties. For example, based on dates of the signature combinations,[42] the Series 1899 $1 silver certificate was first issued with the signature combination of Lyons and Robert (in office together from 1898 to 1905) and last issued with the Speelman and White signatures (in office together from 1922 to 1927). Therefore, a Series 1899 note could have been issued as late as 1927.
  7. ^ "Fr" numbers refer to the numbering system in the widely-used Friedberg reference book. Fr. numbers indicate varieties existing within a larger type design.[45]
  8. ^ Varieties are presented by Fr. number followed by the specific differences in signature combination, seal (color, size, and style), and minor design changes, if applicable. For Series 1878 notes, an asterisk following the Assistant Treasurer’s name indicates it is hand-signed versus engraved.
  9. ^ Because small-size silver certificates are presented in ascending Friedberg number, World War II emergency issue notes (2300, 2306, 2307, and 2309) are presented out of chronological order at the end of the table.
  10. ^ Serial blocks of the 1928A and 1928B silver certificates that were lettered XB or YB were made of experimental paper, and ZB of regular paper as a control.[50]
  11. ^ Series 1935A "Experimental" bills were stamped with either a red "R" or "S" while testing regular and synthetic papers.[8]
  12. ^ For 1935D - narrow and wide refer to the width of design features on the reverse of the note. The wide variety is 0.0625 in (1.5875 mm) larger and has a 4-digit reverse plate number less than 5016.[51]
  13. ^ The motto (“In God We Trust”) was added to the Series of 1935G notes midway through the issue.[8]
  14. ^ a b Printed but not issued.[52]
  15. ^ Very few Series 1933 $10 Silver Certificates were released before they were replaced by Series 1934 and most of those remaining were consigned to destruction; only a few dozen are known to collectors today.[53]

Notes[edit]

  1. ^ a b c d Silver Certificates. Bureau of Engraving and Printing/Treasury Website. Retrieved 12 February 2014. 
  2. ^ a b Leavens, p. 24.
  3. ^ Friedberg & Friedberg, p. 7.
  4. ^ Blake, p. 18.
  5. ^ a b c d Friedberg & Friedberg, p. 74.
  6. ^ a b Knox, p. 155.
  7. ^ Friedberg & Friedberg, p. 185.
  8. ^ a b c Friedberg & Friedberg, p. 187.
  9. ^ Friedman, p. 1166.
  10. ^ O’Leary, p. 392.
  11. ^ a b Barnett, p. 178.
  12. ^ Friedman, p. 1165.
  13. ^ Lee, p. 388.
  14. ^ Carothers, p. 5.
  15. ^ O’Leary, p. 388.
  16. ^ Leavens, p. 36.
  17. ^ Taussig, 1892, p. 11.
  18. ^ Leavens, p. 38.
  19. ^ Lee, p. 393.
  20. ^ a b Lee, p. 396.
  21. ^ Agger, p. 262.
  22. ^ a b c Knox, p. 153.
  23. ^ Taussig, 1892, p. 8.
  24. ^ Knox, p. 152.
  25. ^ Taussig, 1892, p. 15.
  26. ^ Taussig, 1892, p. 10.
  27. ^ Taussig, 1892, p. 16.
  28. ^ Champ & Thomson, p. 12.
  29. ^ McVey, p. 438.
  30. ^ Champ & Thomson, p. 14.
  31. ^ a b Leavens, p. 39.
  32. ^ a b Schwartz & Lindquist, p. 9.
  33. ^ a b c d BEP History. Bureau of Engraving and Printing/ Treasury Website. Retrieved 14 February 2014. 
  34. ^ a b Schwartz & Lindquist, p. 24.
  35. ^ Cuhaj, p. 133.
  36. ^ a b Dillon, p.401.
  37. ^ a b Ascher, p. 99.
  38. ^ a b Dillon, p.400.
  39. ^ a b c Public Law 88-36 (An Act to repeal certain legislation relating to the purchase of silver, and for other purposes) (Report). U.S. Government Printing Office. 1963. http://www.gpo.gov/fdsys/pkg/STATUTE-77/pdf/STATUTE-77-Pg53.pdf. Retrieved 14 February 2014.
  40. ^ Grey, p. 83.
  41. ^ Friedberg & Friedberg, pp. 70–90 and 188–90.
  42. ^ Friedberg & Friedberg, p. 303.
  43. ^ Blake, p. 19.
  44. ^ Knox, p. 155.
  45. ^ a b Friedberg & Friedberg, pp. 6–7.
  46. ^ Annual Report of the Secretary of the Treasury on the State of the Finances (Report). United States Department of the Treasury. 1892. p. 475. http://books.google.com/books?id=DSgSAAAAYAAJ. Retrieved 16 February 2014.
  47. ^ Friedberg & Friedberg, pp. 74–81.
  48. ^ Friedberg & Friedberg, pp. 70–90.
  49. ^ Friedberg & Friedberg, pp. 188–90.
  50. ^ Schwartz & Lindquist, p. 31.
  51. ^ Friedberg & Friedberg, p. 170.
  52. ^ a b Friedberg & Friedberg, p. 190.
  53. ^ Schwartz & Lindquist, p. 156.

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