2007-05-13 10:11:32 · 3 answers · asked by Amy 2 in Business & Finance ➔ Investing
It is one form of a dollar bill.
Silver Certificates were authorized in 1878. America's economy was booming at that time, and the demand for silver coinage in day-to-day business transactions outdistanced the supply. Silver Certificates were not designed to replace coinage but to create a convenient medium of exchange, whereby the government held specific quantities of Silver Dollars (later bullion) and agreed to redeem the notes or certificates against them. In 1934 the Treasury Department ceased redemption of these notes in Silver Dollars, and on June 24, 1968, redemption in all forms was ended. The notes are still legal tender at their face value.
2007-05-13 10:38:41 · answer #1 · answered by zman492 7 · 2⤊ 0⤋
silver certificate
A bill formerly issued as legal tender by the U.S. government in representation of deposited silver bullion.
This link gives quite a bit more information and an interesting history on the silver certificate (particularly closer to the bottom of the page):
http://www.answers.com/topic/silver-certificate
2007-05-13 17:45:24 · answer #2 · answered by Alletery 6 · 0⤊ 0⤋
It means one can trde the dollar for $1.00 worth of silver. The bill is worth more to a collector if it is in good condition.
2007-05-13 10:15:35 · answer #3 · answered by Teacher 6 · 1⤊ 0⤋