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About the 1923 $1 Silver Certificacte
The 1923 Silver Certificate was the last large-size U.S. $1 bill. It measures about 7-3/8 by 3-1/8 inches, or about 50 percent larger than todays paper currency.
It was replaced with the Series of 1928 $1 Silver Certificate that was the size of todays paper currency. The note is so large that it was known as a horse blanket large enough to cover a horse!
The Silver Certificate features a blue Treasury seal and blue serial numbers on the front, which gives it a very different appearance from todays Federal Reserve Notes that have green details. When this note was issued in the 1920s, each $1 Silver Certificate was backed by an actual Morgan Silver Dollar or Peace Silver Dollar in the U.S. Treasury. The bearer of the note could, by law, exchange it on demand at the Treasury for the Silver Dollar. Due to it being worth a Silver Dollar, the Silver Certificate helped the American public accept paper money because it was worth the same as a Silver Dollar. At this time, Silver Certificates circulated along with other types of paper currency such as U.S. Notes and Federal Reserve Notes. Today, only Federal Reserve Notes circulate.
The front features a portrait of George Washington based on a portrait by Gilbert Stuart. Most horse blanket Silver Certificates were worn out in circulation long ago or were destroyed by the U.S. government when the small-size notes were introduced.
Can You Still Redeem Silver Certificates?
The redemption period to exchange Silver Certificates for silver ended June 24, 1968, a deadline set by Congress. Since that date, there has been no obligation to issue and exchange silver in any form for any denomination of Silver Certificate.
Collecting Silver Certificates
Depending upon the condition and year of issue of a given note, silver certificates can still be highly collectible. Issued from the years 1878-1964 by the United States, these notes were backed by silver and were able to be redeemed for what their face value was worth in silver coins. Many silver certificates are still available to add to your collection, including the famous Silver Certificate Indian chief, the Silver Certificate “Educational Series,” Silver Certificates from the World War II era, and many more.
Although Silver Certificates are not actual silver bullion, there are a number of reasons to collect. For starters, they are works of art, beautifully designed and drawn to depict American images that are not found on modern paper currency. Silver certificates also represent an interesting time in American monetary history, not to mention the years designed also have historical significance, especially for WWII enthusiasts.
Enjoy Your Collection !!!
