Sell Silver Certificates to the Best Silver Buyer in Las Vegas and Henderson, NV

Silver certificates are a sort of representative money that was issued in the United States from 1878 and 1964 as part of the country’s paper currency circulation. They were made in response to citizen dissatisfaction towards the Fourth Coinage Act, which effectively put the US on a gold standard. The certificates could be redeemed for silver dollar coins at first and then for raw silver bullion for a year. They have only been redeemable in Federal Reserve Notes since 1968. However, they are still considered acceptable legal tender at face value and an acceptable form of currency.

Brief History

The Silver Certificate was produced in response to silver agitation, which refers to demonetized silver by American citizens who were dissatisfied with the Fourth Coinage Act of 1873, which attempted to terminate bimetal currency by establishing a straight gold standard.

Businesses began investing in silver in 1875 to revive the bimetallic standard. Representatives from silver-rich states began pressing in Congress to keep one of their state’s critical sources of economic wealth alive for its residents. Consequently, the Bland-Allison Act, enacted on February 28, 1878, authorized the United States Treasury to purchase a minimum amount of silver and circulate it in silver dollars, today known as the Silver Certificate.

Silver certificates were valid for taxes, public dues, and customs under the Bland-Allison Act, but not for individual, private transactions. The National Banking Statute, passed on July 12, 1882, lifted some of these restrictions by allowing them to be included in national banks’ authorized reserves, and they were later transformed into $5 or less denominations under a separate act in 1886.

From 1878 through 1923, large-size silver certificates were issued in amounts ranging from $10 to $1,000, with a focus on 1878 and 1880. In 1886, the $1, $2, and $5 bills were approved. All banknotes in the United States were redesigned, and the size was lowered in 1928. Only $1, $5, and $10 denominations were regularly issued on the small-size silver certificate from 1928 to 1964.

In May 1927, Treasury Secretary Andrew W. Mellon and a team advocated a size reduction and redesign of US banknotes, and on July 10, 1929, new, smaller silver certificates were issued. The silver certificate and its denominations were altered 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. 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.

Value of Silver Certificates

The value of a silver certificate is based on numerous factors. These factors are all equally considered when determining the value of your item.  

Condition and Year

The condition and year of issue determine the value of a silver dollar certificate. Although silver dollar certificates can no longer be redeemed for silver, they are still considered legal currency. With this, they can be exchanged for a Federal Reserve note in this way.

Collectability

The collectability of a silver certificate is 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.

Grading

The Sheldon number scale, which ranges from one to seventy, is used to grade most silver certificates, with seventy being a certificate 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.

Stamps

Aside from the grade, certain silver certificates have other attributes that add to their value to a collector. 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.

Best Buyer of Silver Certificates

Nevada Coin Mart is the best place to sell your silver certificates. We test items using a non-destructive process that involves using a modern piece of technology in gemology called the x-ray spectrometer. Our team uses high-quality facilities and equipment to critically check the condition desirability of your silver certificates and other precious items.

The Las Vegas Review Journal has recognized these services of our store by honoring us with the Best of Las Vegas award 12 times already. That is why we continue to exemplify excellence and competence in service delivery. Our experts always make sure that the customers and their items are treated fairly. When you come to our store, you will be escorted by one of our staff members to a private booth. An in-depth discussion will be led by an expert coming from our team, walking you through the entire valuation process. 

So, if you happen to have one at home, consider selling them at Nevada Coin Mart to earn serious and instant cash. Just bring them in, and we will help you earn the most cash for it. We are open 365 times a year, from 9 AM to 6 PM. Visit us at Nevada Coin Mart® 4065 S. Jones Blvd Las Vegas, NV 89103, or call us up at 702-998-4000. You are absolutely at the right store with the best customer service for a worthwhile transaction of your silver certificates. 

References:

https://www.investopedia.com/articles/markets-economy/090116/what-silver-certificate-dollar-bill-worth-today.asp

https://en.wikipedia.org/wiki/Silver_certificate_(United_States)

https://libertycoinandcurrency.com/blog/a-brief-history-of-silver-certificates/