Sell Silver Certificates in Las Vegas, NV | Silver Certificate Buyer
Sell Silver Certificates
Silver Certificates are a kind of representative money. It is a type of exchange that comes printed on paper that constitutes something of value. The US Government circulated silver certificates throughout the nation from 1878 to 1964 as part of its paper currency. Citizens would exchange these certificates for silver dollar coins. On June 24, 1967, they began to exchange these certificates for raw silver bullion, but the practice only lasted for about a tear. After that, the notes became defunct, and people could only use them to redeem Federal Reserve Notes. However, the certificates still function as legal tender; merchants and all establishments would still accept them as a form of payment. Learn more about the best among all silver certificate buyers in Las Vegas, the value of silver certificates, and where to sell silver certificates in this blog.
When the Administration established the Fourth Coinage Act of 1873, it ended the rights of silver bullion owners to have their precious metal minted into dollar coins. This eventually resulted in the creation and use of silver certificates.
Businesses began investing in silver in 1875 to revive the bimetallic standard. Silver-rich states started to lobby for the preservation of silver as a way of maintaining their state’s economy. The US Government then passed a new law on February 28, 1878, called the Bland-Allison Act, which obligates the US Treasury to buy silver to put into circulation as silver dollars—silver certificate.
Silver certificates were valid for taxes, public dues, and customs under the Bland-Allison Act but not individual, private transactions. However, Congress passed the National Banking Statute on July 12, 1882, lifting some of these restrictions by mandating National Banks to include them in national banks’ authorized reserves. A separate Act in 1886 eventually transformed the certificates into $5 and other fewer denominations.
The government released large-size silver certificates from 1878 through 1923 in amounts ranging from $10 to $1,000, focusing on 1878 and 1880. Then, in 1886, they approved the $1, $2, and $5 bills. The US Administration redesigned and resized banknotes in 1928. Only the $1, $5, and $10 denominations were regularly issued on the small-size silver certificate from 1928 to 1964. If you plan to sell any silver certificate, you ought to keep these details in mind to give silver certificate buyers the impression that you truly know what you are doing.
Silver Certificates Through the 1900s
In May 1927, Treasury Secretary Andrew Mellon and his team advocated a size reduction and redesign of US banknotes, resulting in smaller silver certificates on July 10, 1929. The government also altered the silver certificate and denominations when World War II broke out. Following the Silver Purchase Act of 1934, demand for silver bullion steadily increased over the next three decades.
After that, President John F. Kennedy issued executive orders affecting the treasury secretary’s jurisdiction and the valuation of silver certificates, repealing the Silver Purchase Act of 1934 and related actions. Silver certificates were withdrawn from circulation as a result of this act. As a result, silver certificates were outdated in 1964, and since 1968, they have only been redeemed in Federal Reserve notes. However, they are still recognized as legal currency, but they hold a small premium. Hence, when you sell a silver certificate, its collectability value would most likely dictate its price instead of its face value.
Value of Silver Certificates
The value of a silver certificate is based on numerous factors. So if you plan on selling your silver certificates, below are the factors that can influence or determine the value of your item.
Condition and Year
The condition and year of issue determine the value of a silver dollar certificate. Although citizens can no longer redeem actual silver using silver dollar certificates, they can still use it as legal currency. That said, citizens can still exchange silver certificates for a Federal Reserve note, which makes it certificates vulnerable to wear and tear. If you preserve your silver certificates well, they will look a lot better than the majority of the certificates, which most collectors prefer.
In selling silver certificates, its collectability carries all of its actual value. The certificates have become a collector’s item, and depending on the rarity of the print; collectors will pay more than face value for them.
The Sheldon number scale, which ranges from one to seventy, is used to grade most silver certificates. Here, a grade of seventy on a certificate means it’s in pristine mint condition. The numerical grade correlates to an adjectival letter that denotes whether the condition is good, very good, fine, very fine, very fine, almost uncirculated, or crisp uncirculated.
Aside from the grade, certain silver certificates have other attributes that add to their value to a collector. For example, a silver certificate that comes with a star in the serial number or an error on the front of the bill is worth more than a silver certificate without these attributes of the same year, grade, and denomination.
Some collectors will not acquire 1957-star notes since they are common. Folding, cutting, and inking faults are all possibilities. Furthermore, investors value serial numbers that are distinctive and interesting. For example, a serial number with the numeral two as each digit has more value than a random mix of integers.
Where to Sell Silver Certificates
Nevada Coin Mart is the best choice among all silver certificate buyers in Las Vegas, NV. We are home to experts who know and understand the true value of silver certificates, so you know that you are getting the best deal for your silver certificates. For more information about selling silver certificates, visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103, or call us up at 702-998-4000. We are open 365 days a year from 9 AM until 6 PM.