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Can you still redeem a silver certificate for silver?
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.
How do I exchange a silver certificate?
To obtain silver bullion in exchange for silver certificates, a holder of certificates must present them in person at the Federal Reserve Bank of New York or San Francisco or at the United States Assay Office in New York or San Francisco.
How do I sell my silver dollar certificate?
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.
Can silver certificates be spent?
On May 25, 1964, the Secretary of the Treasury announced that silver certificates could no longer be redeemed for silver dollars. Those certificates, which remain outstanding, are still legal tender and can be spent just like a federal reserve note.
Is it possible to redeem a silver certificate?
However, you cannot redeem these certificates for their face value in silver coinage today. Still, silver certificates remain legal tender, and you can redeem them for their face value in Federal Reserve Notes. Silver certificates date back to 1878.
What kind of money is a silver certificate?
Defining a Silver Certificate A silver certificate is a type of money that the United States issued between 1878 and 1964 as part of its paper currency circulation. Initially, people could redeem silver certificates for their face value of silver dollars. However, you cannot redeem these certificates for their face value in silver coinage today.
When did silver certificates stop being exchanged for silver?
On May 25, 1964, the Secretary of the Treasury announced that silver certificates could no longer be redeemed for silver dollars. Subsequently, another Act of Congress dated June 24, 1967, provided that the certificates could be exchanged for silver bullion for a period of one year, until June 24, 1968.
Is the Silver Certificate dollar bill still legal tender?
A silver certificate dollar bill was legal tender issued by the United States government. When they were first issued, certificate holders could redeem them for a certain amount of silver. Certificates no longer carry monetary value as an exchange for silver.