(4) 1957 $1 Silver Certificates 
- Sold Winning Bid: $82.20
- 31 Bid(s) View Bid History
- High Bidder: mow
| Shipping Options | |
|---|---|
| Pickup | $0.00 |
| FedEx / UPS | $12.00 ($3.00 as additional item) |
(4) 1957 $1 Silver Certificates
- Series 1957 & 1957 A
- In Presentation Folios
- Ideal For Gift Giving
The Story Behind Silver Certificates
Originally issued for the redemption of silver on demand, Silver Certificates were originally authorized by two Acts of Congress in 1878 and 1886 and in denominations ranging from $1 to $1,000. The notes underwent a series of changes over the years, including designs, physical sizes, and legal tender obligations (as declared on the obverse of the notes).
The obligation on the Series 1957 $1 Silver Certificate states, “This certifies that there is on deposit in the Treasury of the United States of America [one dollar] in silver payable to the bearer on demand… This certificate is legal tender for all debts public and private.”
When these notes were originally issued, someone with these notes could have walked into a typical bank and would expect to receive silver coins amounting to the face value of the Silver Certificates surrendered in that transaction. So, in the late 1950s or early 1960s, that may have meant trading in a Series 1957 $1 Silver Certificate for a Morgan Dollar or Peace Dollar, large silver coins that were still readily available for face value during that time.
However, around 1963 the price of silver increased to the point that 90% silver Dimes, Quarters, Half Dollars, and Dollars were suddenly worth more for their intrinsic bullion value than for their face value. This led many people to begin hoarding silver coins, removing them from circulation in massive numbers and resulting in a nationwide coin shortage.
The United States government acted quickly in response to the rapidly changing situation. On June 4, 1963, Congress abolished the production of Silver Certificates. Five years later, on June 24, 1968, an Act of Congress stopped any further redemption of Silver Certificates for silver bullion. Silver Certificates were eventually replaced with Federal Reserve Notes, which remain in use today. However, Silver Certificates still retain legal tender status for obtaining Federal Reserve Notes of the equivalent value.
Condition:
Circulated
Size:
(4) $1 Silver Certificates
Our Commitment to You:
Customer Guarantee
At Mesilla Valley Estate Sales, we take pride in the authenticity and quality of each item we offer. Here's our commitment to you:
- Authenticity Assurance: We guarantee the coins in this listing to be authentic, handpicked from pre-owned estate collections.
- Accurate Description: We guarantee that each coin is described accurately on our website. The metal type and purity are described accurately. We ensure thorough verification of these specifics before listing.
- Review at Pickup: You will have the opportunity to review your item during the designated pickup time. We encourage you to inspect your purchase to confirm that it matches the description provided. Please note, once you leave the property with the item, it is considered yours.
Please Note:
In the rare event of a typographical error in our listings, including gem descriptions and pricing, we reserve the right to correct such errors. If an item is sold based on incorrect information, we will provide a full refund to the buyer and adjust the product information accordingly.
Our guarantee aligns with our pickup policy, ensuring you have the opportunity to review your purchase at the designated pickup time and location. It's important to understand that once the item is picked up, the sale is final, and the item cannot be returned.
We believe that the coins you purchase will become cherished heirlooms, admired for generations.