On March 25, 1964, C. Douglas Dillon, the 57th Secretary of the Treasury announced that silver certificates would no longer be redeemable in silver dollars. Silver certificates are still legal tender and do still circulate at their face value.
Can you still redeem a silver certificate for silver?
The Treasury Department today published procedures governing the exchange of silver certificates for silver bullion during the remaining period of exchangeability, which ends June 24, 1968. After that date, silver certificates will continue to be usable as legal currency, but may not be redeemed for silver.
What should I do with a silver certificate?
The term Silver Certificate represents legal tender in the form of paper currency. The certificate was once redeemable for silver, but can now be exchanged for its face value. In many cases, though, collectors will purchase them for much more.
Can a silver certificate be redeemed for silver?
After an act of Congress passed in 1878, the United States Treasury issued silver certificates that holders could redeem for an equivalent value in silver. Although redemption is no longer an option, silver certificates still circulate.
Where can I get a silver certificate for my money?
Call local coin and currency dealers. Most coin shops also deal in paper bills, such as silver certificates. Tell them what silver certificate you own, its approximate condition, and ask if they are interested. Many will invite you down to see what you have in person. Get various quotes for your certificate.
Can you exchange a silver certificate for a Federal Reserve Note?
Since you are unable to redeem a silver certificate for silver, you are probably wondering if it is worth anything. Technically, you can still exchange a silver certificate for a Federal Reserve note.
Can a silver certificate be worth more than its face value?
Before offering your silver certificate to anyone, bring it to at least two coin and currency dealers to have its value appraised. Your note may be worth much more than its face value if it’s particularly rare and in mint condition.
