What Years Were Silver Certificates Printed?

Silver Certificates were a unique form of paper currency issued by the United States government, serving as representative money. These certificates distinguished themselves from other currency types, such as Federal Reserve Notes, by being directly redeemable for an equivalent amount of silver coin or bullion held in the U.S. Treasury. Their purpose was to provide a more convenient alternative to carrying heavy silver coins for transactions.

The Initial Decades of Issuance

The printing of Silver Certificates commenced in 1878, following the passage of the Bland-Allison Act. This legislation mandated the U.S. Treasury to purchase a specified amount of silver bullion monthly and to mint it into silver dollars or issue Silver Certificates against it. Initially, these early notes were “large-size” currency, issued in denominations ranging from $10 to $1,000. In 1886, lower denominations of $1, $2, and $5 were authorized, increasing their circulation and public use. Large-size certificates were printed from 1878 until 1923.

In 1928, all U.S. banknotes, including Silver Certificates, were redesigned and reduced to their current “small-size” dimensions. The first series of these smaller notes, issued in 1928, continued the tradition of redeemability for silver. Subsequent small-size print runs saw adjustments to the redemption statements printed on the certificates.

The Final Series and Phasing Out

The last prominent series of Silver Certificates were those issued in 1935 and 1957. The 1935 series, which included various sub-series, was printed extensively and notably included variations with and without the motto “In God We Trust.” The 1957 series was among the final printings of these certificates. These notes maintained the blue Treasury seal that distinguished them as Silver Certificates.

The cessation of Silver Certificate printing and their eventual phasing out was a gradual process driven by changes in silver policy. The Silver Purchase Act of 1934, which had supported the role of silver in the currency system, was ultimately repealed in 1963. This legislative change removed the government’s obligation to purchase silver, paving the way for the discontinuation of Silver Certificates.

While printing ceased in 1963, existing certificates remained legal tender, though their redeemability for silver began to be curtailed. In 1964, the U.S. Treasury halted the redemption of Silver Certificates for silver dollar coins. For a period of four years, until 1968, holders could redeem them for uncoined silver granules. After this date, all official redemption of Silver Certificates for silver ceased entirely, marking the end of an era where U.S. paper currency was directly convertible to a precious metal. These certificates remain valid at their face value as legal tender today.