SILVER CERTIFICATES

Silver Certificates, like the Legal Tender Notes, are an extensive series and offer many varieties of design and subject matter.

Two Acts of Congress, those of February 28, 1878 and August 4, 1886 authorized all the Silver Certificates that were issued. Under these Acts, there were five different issues, as follows:

The first issue consisted of notes from 10 to 1,000 Dollars of the series of 1878 and 1880. These notes are particularly attractive because the reverses are black in color and do not look like conventional paper money. These notes are difficult to find in new condition. They are called on the obverse “Certificate of Deposit,” which term does not appear on the later issues.

The obligation on this first issue is as follows, “This certifies that there have been deposited with the Treasurer of the U.S. at Washington, D.C. payable at his office to the bearer on demand...... Silver Dollars ...... This certificate is receivable for cus toms, taxes and all public dues and when so received may be re issued.”

All the notes of the 1878 series are countersigned by various Assistant Treasurers at New York, Washington and San Fran cisco in order to denote that silver had been deposited at their offices in these cities.

The second issue of Silver Certificates consisted of notes from 1 to 1,000 Dollars of the series of 1886, 1891 and 1908. The notes of the 1886 series are quite popular because of the attractive reverses which are entirely covered with fine, detailed lathe work. Please refer to the text for which denominations exist in any given series.

The third issue consisted only of 1, 2 and 5 Dollar notes of the series of 1896. These notes comprise the famous and ever popular Educational Set. They are usually considered both the most his torical and most artistically designed of all issues of United States currency.

The fourth issue consisted only of 1, 2 and 5 Dollar notes of the series of 1899. This issue is notable for the many signature combinations that appear on the notes.

The fifth issue consisted only of 1 and 5 Dollar notes of the series of 1923.

The obligation on the notes of the last four issues is as follows, “This certifies that there have been deposited in the Treasury of the United States (of America) ...... Silver Dollars payable to the bearer on demand ...... This certificate is receivable for cus toms, taxes and all public dues and when so received may be reissued.”