The 1935 silver certificate is very common and will only sell for its face value at $1, but in uncirculated conditions, it can sell higher at about $3.50.
A silver certificate has a very unique history. Although the profit margin of selling one is low, you can still get a great deal meaning it’s considered valuable to a niche group of people.
If you’ve been wondering how much a 1935 silver certificate is and where you can sell yours, you’ve come to the right place. Continue reading this article to find out more.
What is a Silver Certificate?
Silver certificates were created in 1878 as a way for investors to purchase silver without needing to have physical possession of the item or carry it on their person. They are basically a type of legal tender in the form of paper currency.
They were used in the United States from 1878 until they were eventually phased out in 1964.
History of Silver Certificates
In 1878, the United States issued silver certificates as part of its circulation of paper currency. Silver certificates were essentially created in response to the public outrage over the demonetizing of silver with the Fourth Coinage Act of 1873.
The new law ended the United States’ bimetallic standard and implemented a gold standard. Even though this coinage act stopped the production of silver dollars, the 1874 adoption of Section 3568 of the Revised Statutes removed legal tender status from silver certificates in the payment of debts exceeding five dollars.
Eventually, the value of silver declined, and banks, businesses and people who had accumulated their wealth in silver sought to restore the bimetallic standard. The public outcry was so intense that people began to refer to the new act as “the Crime of 73”.
Later, a turning point and a compromise were reached when the United States Congress passed the Bland Allison Act on February 28th, 1878.
Although this Act did not provide the free and unlimited coinage of silver demanded by Western miners, it did require the United States Treasury to buy $2 million dollars – $4 million dollars worth of silver and put it into circulation as silver dollars. These became known as silver certificates.
The silver certificates were released into circulation in denominations as low as $10 and as high as $1000. Financial institutions found them easier to handle in comparison to coins, but they weren’t immediately greeted with positivity by the public as they were not widely accepted in all transactions.
The issue was that the Bland Allison Act deemed it suitable for silver certificates to be used for taxes, customs and public dues, but when it came to private transactions, they were considered invalid forms of payments.
Then came July 12th of 1882, and some of the restrictions imposed on silver certificates were lifted, making them available for use in lawful reserves of national banks. And because of this, they were later converted into denominations of $5 or less under a separate act of 1886.
Silver certificates experienced many changes during their course, including a size reduction and redesign, which was suggested by Treasury secretary Andrew W. Mellon.
Then there was an increase in demand for silver bullion after the Silver Purchase Act of 1934 outlawing private ownership of more than 500 troy ounces of silver.
Eventually, in 1934, the Silver Purchase Act of 1934 and other similar acts were later repealed, leading to the end of the silver certificates. Although they’ve only been redeemable in Federal Reserve notes since 1968, they are still considered legal tender.
The 1935 Silver Certificate
At first glance, there isn’t much of a difference between a silver certificate and a regular dollar bill; after all, they’re both paper currency.
However, if you look closer, right at the top of the bill, you will find that for standard bills, “federal reserve notes are printed, and for silver certificates, you can easily spot where it reads “silver certificate.
Just like your standard dollar bill, the 1935 silver certificates are quite common, but there are different variations. These variations can be distinguished by their different seal types and some of them can be valuable.
Three primary seals can be found on the 1935 silver certificates: blue seals, yellow seals and brown seals.
The series of notes also include a plain 1935 followed by letters A through H; 1935, 1935A, 1935B, 1935C, 1935 D, 1935E, 1935F, 1935G, and 1935H.
Also included in the series are some unique varieties: the experimental notes, red R and red S, the brown seal Hawaii notes, and the yellow seal North Africa notes.
Features
The 1935 silver certificate is a $1.00 bill. This silver certificate resembles a standard United States bill, even bearing a portrait of George Washington.
The major differences are the texts above and just below the portrait. The former bears the letterhead “silver certificate”, and the latter text states that the tender is valued at one dollar in silver payable to the bearer on demand.
An interesting thing to know about the silver certificates is that the date printed on them doesn’t always reflect the actual year they were printed, but rather it’s a major design change. Other designs that were added were the letters attached to the date.
For example, the 1935 silver certificates initially had letters from the letter A to H. After that, printing began for the 1957 series.
Varieties
We have already stated that 1935 silver certificates are very common. So much so that it can be quite challenging to get prices higher than their face value for them. However, there are certain varieties and experimental varieties that are still very valuable.
One of the different variations of the silver certificate is the colored seal. There are primarily three different color seals that can be found on a 1935 certificate; the brown seal, the blue seal and the yellow seal.
In addition to these, there were also the unique variations. They were regarded as experimental and they include the red R and red S experimental notes, the brown seal Hawaii notes, and the yellow seal North Africa notes.
Errors
Errors tend to occur from time to time in every production run and they can escape notice, therefore making it into circulation.
Common errors that you might find in the 1935 silver certificate are the;
- Blank back error
- Omission error which means missing number, letter and year.
- Misalignment
How Rare is the 1935 Silver Certificate?
The 1935 silver certificate is so common that many pawn shops and dealers are reluctant to buy it as the profit margin is very low.
However, some unique varieties of the 1935 silver certificates were created during its period of circulation. These bills were experimental, making them quite rare and ultimately increasing their value today.
1935 Silver Dollar Bill Certificate Value
Most collectors are hesitant to buy the 1935 silver certificate due to its low-profit margin However, you can still sell it to anyone looking to build a collection.
A 1935 silver dollar bill certificate in circulated condition will sell for its face value amount of $1. In very fine condition, it can sell at a higher price for around $3.50.
The silver dollar bills are most valued in a mint uncirculated condition, and sell for around $12 – $17.50.
Ironically, even though they sell at such low prices, they’re actually more valued than the 1957 silver certificate, which shares a certain resemblance with them.
Factors that Affect a Bill’s Value
The 1935 silver certificates come in different variations. Not all of them that belong to the same series will sell at a similar price, as some are considered more valuable based on the variation.
Some can sell at face value or less, while others can be worth hundreds of dollars. All these are determined by certain factors like the state or condition of the bill, the bill’s rarity, demand for that particular bill etc.
These factors can either increase or decrease a bill’s value at auctions and sales.
Grade
Grading involves analyzing and inspecting the bill’s surface to determine its condition and quality; the same thing goes for coins.
Many numismatists use the Sheldon Numerical Scale to inspect certain points on a bill’s surface that indicate the amount of wear that it has been subjected to over the years.
Expert dealers determine a bill’s grade and, ultimately, its value by inspecting these key points on the bill’s surface, in this case, George Washington’s portrait, for example.
The Sheldon numerical scale has a value that ranges between 1-70, with 1 being the worst state of that bill and 70 being a perfect mint state.
Using the idea of this scale, bills can be loosely categorized into good, fine, extremely fine, and crispy mint state, with the latter being the best grade it can have, while the good grade indicates the poorest condition.
Monies in Mint State have the most value and will fetch significantly higher prices when sold.
Demand
The demand for a bill can increase its value, especially in auctions where several people might desire it and want to outbid everyone else to get it.
1935 silver certificates are not particularly in high demand. These bills were mass-produced before they stopped being minted. Regardless, there is a market for them, or at least there’s one for the rarer ones.
Rarity
Speaking of rarity, Rare bills are more valuable than common ones. In the case of the 1935 silver certificates, the rare experimental varieties are more valuable. Finding any one of them in great condition is definitely hitting the jackpot.
Generally speaking, silver certificates in uncirculated conditions can be hard to find, and they can fetch you higher prices if you choose to sell. If not, they still make excellent additions to a collection.
Error
The presence of one or more errors on a bill can potentially increase its value to collectors.
Common errors like the ones we mentioned earlier generally add to a coin’s value.
Prices
In this table, you’ll find the prices some 1935 silver certificates have been sold for on eBay.
Seal/type |
Condition |
Price |
|
1935A silver certificate one dollar |
Star note |
Uncirculated |
|
1935E silver certificate one dollar |
Blue seal |
Uncirculated |
|
1935A Hawaii silver certificate one dollar |
Red seal |
Uncirculated |
|
1935H silver certificate |
Blue seal |
Uncirculated |
|
1935A US one dollar silver certificate Hawaii issue |
Brown seal |
Circulated |
|
1935A Series A Hawaii US $1 One Dollar Bill Silver Certificate Red State Note |
Red seal |
Circulated |
|
1935 E Blue Note Silver Certificate |
Blue seal |
Circulated |
Where to Sell Your 1935 Silver Certificate
When it comes to selling 1935 silver certificates, you have many choices to choose from.
For one, there are local pawn shops where you can receive swift and easy payment for your silver certificate.
Unfortunately, due to how common these bills are, many pawn shops might not be so ecstatic about getting these bills off your hands.
Luckily for you, you can always choose online platforms like Etsy and eBay, where your 1935 silver certificate can be auctioned, and you get to sell to the highest bidder.
Not only does this last option expose you to buyers from all around the world, helping you get the best value for your money, but it’s also the best place to sell rare and valuable variations of your 1935 silver certificate.
FAQs
Can Silver Certificates still be Redeemed?
The Treasury Department published procedures governing the exchange of silver certificates for silver bullion during the remaining period of exchangeability, which ended June 24, 1968.
After that date, silver certificates will continue to be used as legal currency but cannot be redeemed for silver.
How Much is a 1935 Blue Seal Silver Certificate Worth?
A 1935 blue seal silver certificate is worth $3-$17 depending on its condition. In very fine condition, these bills only sell for around $3.50. In uncirculated or mint condition, these bills sell for around $12-17.50.
Do Banks Accept Silver Certificates?
The United States Congress used the National Banking Act of July 12, 1882, to clarify the legal tender status of silver certificates by authorizing them to be included in the lawful reserves of national banks, unlike in the past, where they could be used for private transactions.
Basically, ever since 1968, they have been redeemable only in Federal Reserve Notes and are basically obsolete but still valid legal tender at their face value, making them an accepted form of currency.
What does a Star Mean on a Silver Certificate?
When a currency note is deemed imperfect in its manufacture, it is replaced with a Star Note that bears a star before or after the serial number.
Silver certificates with a star in the serial number or an error are valued more than a silver certificate of the same year and grade that doesn’t have these errors.
How Much is a 1935 G Certificate Worth Today?
If you have a 1935 silver certificate with The letter G, You can sell it for $3.50. If it is in very fine condition. And in uncirculated condition You can expect to get around $12-17.50.
How much is a 1935 series A silver certificate dollar worth?
The 1935 A series silver certificate is a rare find. The experimental R and S notes belong to this series.
These can be identified by the coloured letters R or S printed on the right next to the seals. In pristine mint condition, either could be worth around $400.
Also, A 1935 dollar bill with a yellow seal and darker paper could very well be a 1935A North Africa $1 note. These were issued to members of the U.S. military during World War II and could be worth around $285.
How much is a 1935 Silver Certificate Without In God We Trust Worth?
In very fine condition, these bills will sell for $3.50. However, because they’re common, they’ll only sell at a face value of $1 in circulated condition.
Wrapping Up
The history of silver certificates is one that will always remain very fascinating. They created an alternative to carrying silver on your person and probably marked the start of paper currency in the United States.
Even though the 1935 silver certificate isn’t worth much, it will still make a good addition to any collection.
That being said, if you are lucky to find a rare silver certificate, then you just might have something valuable enough to fetch impressive prices.
