FREE: 1957 One Dollar Silver Certificate

The listing, 1957 One Dollar Silver Certificate has ended.

This is a 1957 Blue Seal One Dollar Silver Certificate, Serial Number U41549008A. It comes in a clear protective cover. On the front of the bill is printed, "One Dollar in Silver Payable to Bearer on Demand". These bills are no longer made.Certificates circulated, mainly in the $1 denomination, widely throughout the United States in the years following 1934. When the '34s wore out, they were replaced with a new, more modern-looking Series 1953 (1935 for the $1 silvers, with the same face changes as the Series 1950 Federal Reserve Notes had experienced. However, the Silver Certificates began to disappear from circulation during the 1940s and 1950s. The amount of Silver Certificates in circulation depended directly upon the amount of silver bullion in the Treasury vaults. As people redeemed the certificates for bullion or silver dollars, the notes were shredded, because the notes had lost their backing and could not be recirculated unless there was more silver being produced. The price of silver was also rising. In 1960, it was nearing $1.29, which meant that silver dollars were worth more than $1. This meant that people would receive their silver dollars and melt them down for the bullion, thereby reducing the amount of silver in circulation, which was already falling.

In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of Silver Certificates for Silver Dollars. In the 1970s, large numbers of the remaining silver dollars in the mint vaults were sold to the collecting public for collector value. All redemption in silver ceased on June 24, 1968.