Skip to Content

How Much is a Silver Certificate Worth?

silver certificate

Silver certificates are no longer in production and are worth only their face value, not their value in silver. However, a Silver certificate’s value remains subject to several factors, including its serial number arrangement, among other things.

Although still regarded as legal tender, these notes are mainly valued by collectors. It is important to note that despite being in demand by those seeking to build a collection, not all Silver certificates are considered collectibles.

What is a Silver Certificate?

Investopedia explains a Silver certificate as a form of paper currency accepted as a legal tender. Silver certificates were issued by the U.S. federal government between 1878 to 1964 and are only worth their face value today

These certificates looked similar to banknotes but were different in size and provided a way for people to purchase and own silver without carrying it around. Before their end in 1964, people could redeem these certificates on demand for the exact amount of silver they represented.

The U.S. government initially issued large-sized silver certificates from 1878 to 1923 but switched to smaller-sized ones from 1928 to 1957. While the former covered a wider range of denominations, the latter only featured $1, $5, and $10.

All the certificates featured one to two individuals, including past presidents and first ladies.

History of Silver Certificates

The advent of Silver certificates began with the Coinage Act of 1873, effectively ending the United States’ bimetallic standard. With the Act putting a stop to the right to coin silver into legal tender money, it didn’t apply to gold.

Three years later, this Act led to the demonetization of silver, which affected both mining companies and people who have accumulated wealth in silver. The push was so much so that people nicknamed the passage of the Act as the Crime of ‘73.

To counter the raising issues, Congress passed the Bland-Allision Act on February 28, 1878. This required the United States Treasury to buy between $2 million to $4 million dollars worth of silver bullion every month. The Treasury was to buy the silver from mining companies and even individuals who have silver to sell, using them to mint coins for circulation.

The Silver certificates therefore, represented a comfortable means for people to purchase silver but instead of carrying the silver, they would have the certificates as proof of the exact amount they own. They can then redeem the silver at anytime by exchanging it for the certificates.

Although the certificates were recognized as a legal tender, the reception was not outrightly positive because it wasn’t suitable for transactions between individuals.

Types of Silver Certificates

When the printing of Silver certificates began in 1878, they circulated as large-sized notes. However, due to reduced cost, they started issuing smaller-sized notes on July 10, 1929. The only difference between both types is their sizes as they had the same features and details.

Large-size Silver Certificates

The United States Treasury issued these notes between 1878 to 1923. Although the certificates were recognized as legal tender, the reception was not outrightly positive because it wasn’t suitable for transactions between individuals.

In a bid to further encourage circulation, Congress ordered them to be included in lawful reserves of national banks. Another decision that proved efficient in increasing circulation was the production of the certificates in lower currencies i.e. $1, $2, $5, while putting a temporary stop to the production of federal notes under $5.

Varieties of Large-size Silver Certificates

$1 Silver Certificates

$1 Silver Certificates

Series
Portrait
Seal Type
1886
Martha Washington.
● 215 – Small red, plain.

● 216 – Small red, plain.

● 217 – Large red.

● 218 – Large red.

● 219 – Large brown.

● 220 – Large brown.

● 221 – Small red, scalloped.

1891
Martha Washington.
● 222 – Small red, scalloped.

● 223 – Small red, scalloped.

1896
Obverse: Allegory History Instructing Youth.

Reverse: George Washington & Martha Washington.

● 224 – Small red, rays.

● 225 – Small red, rays.

1899
Abraham Lincoln & Ulysses Grant.
● 226 – Blue.

● 227 – Blue.

● 228 – Blue.

● 229 – Blue.

● 230 – Blue.

● 231 – Blue.

● 232 – Blue.

● 233 – Blue.

● 234 – Blue.

● 235 – Blue.

● 236 – Blue.

1923
George Washington
● 237 –Blue.

● 238 – Blue.

● 239 – Blue.

$2 Silver Certificates

$2 Silver Certificates

Series
Portrait
Seal Type
1886
Winfield Scott Hancock
● 240 – Small red.

● 241 – Small red.

● 242 – Large red.

● 243 – Large red.

● 244 – Large brown.

1891
William Windom
● 245 – Small red.

● 246 – Small red.

1896
Obverse: Allegory of Science Presenting Steam and Electricity to Commerce and Manufacture.

Reverse: Robert Fulton & Samuel F.B. Morse.

● 247 – Small red.

● 248 – Small red

1899
George Washington
● 249 – Blue.

● 250 – Blue.

● 251 – Blue.

● 252 – Blue.

● 253 – Blue.

● 254 – Blue.

● 255 – Blue.

● 256 – Blue.

● 257 – Blue.

● 258 – Blue.

$5 Silver Certificates

$5 Silver Certificates

Series
Portrait
Seal Type
1886
Ulysses Grant
● 259 – Small red, plain.

● 260 – Small red, plain.

● 261 – Large red.

● 262 – Large red.

● 263 – Large brown.

● 264 – Large brown.

● 265 – Small red, scalloped.

1891
Ulysses Grant
● 266 –Small red, scalloped.

● 267 – Small red.

1896
Obverse: Allegory of Electricity Presenting Light to the World.

 

Reverse: Ulysses Grant & Philip Sheridan.

● 268 – Small red.

● 269 – Small red.

● 270 – Small red.

1899
Running Antelope
● 271 – Blue.

● 272 – Blue.

● 273 – Blue.

● 274 – Blue.

● 275 – Blue.

● 276 – Blue.

● 277 – Blue.

● 278 – Blue.

● 279 – Blue.

● 280 – Blue.

● 281 – Blue.

1923
Abraham Lincoln
● 282 – Blue.

 $10 Silver Certificates

 $10 Silver Certificates

Series
Portrait
Seal Type
1878
Robert Morris
● 283 – Large red.

● 284 – Large red.

● 284a – Large red.

● 284b – Large red.

● 284c – Large red.

● 285 – Large red.

● 285a – Large red.

1880
Robert Morris
● 286 – Large brown with X.

● 286a – Large brown with X.

● 287 – Large brown with X.

● 288 – Large brown with X.

● 289 – Large brown with X.

● 290 – Large red without X.

1886
Thomas Hendricks
● 291 – Small red, plain.

● 292 – Small red, plain.

● 293 – Large red.

● 294 – Large red.

● 295 – Large brown.

● 296 – Large brown.

● 297 – Small red, scalloped.

1891
Thomas Hendricks
● 298 – Small red.

● 299 – Small red.

● 300 – Small red.

● 301 – Small red.

1908
Thomas Hendricks
● 302 – Blue.

● 303 – Blue.

● 304 – Blue.

$20 Silver Certificates

$20 Silver Certificates

Series
Portrait
Seal Type
1878
Stephen Decatur
● 305 – Large red.

● 306 – Large red.

● 306a – Large red.

● 306b – Large red.

● 307 – Large red.

1880
Stephen Decatur
● 308 – Large brown.

● 309 – Large brown.

● 310 – Large brown.

● 311 – Large brown.

● 312 – Small red.

1886
Daniel Manning
● 313 – Large red.

● 314 – Large brown.

● 315 – Large brown.

● 316 – Small red.

1891
Daniel Manning
● 317 – Small red.

● 318 – Small red.

● 319 – Small red.

● 320 – Small red.

● 321 – Blue.

● 322 – Blue.

$50 Silver Certificates

$50 Silver Certificates

Series
Portrait
Seal Type
1878
Edward Everett
● 323 – Large red.

● 324 – Large red.

● 324a – Large red.

● 324b – Large red.

● 324c – Large red.

1880
Edward Everett
● 325 – Large brown, rays.

● 326 – Large brown, rays.

● 327 – Large brown, rays.

● 328 – Large brown, spikes.

● 329 – Small red.

1891
Edward Everett
● 330 – Small red.

● 331 – Small red.

● 332 – Small red.

● 333 – Small red.

● 334 – Small red.

● 335 – Blue.

$100 Silver Certificates

$100 Silver Certificates

Series
Portrait
Seal Type
1878
James Monroe
● 336 – Large red.

● 336a – Large red.

● 337 – Large red.

● 337a – Large red.

● 337b – Large red.

1880
James Monroe
● 338 – Large brown, rays.

● 339 – Large brown, rays.

● 340 – Large brown, rays.

● 341 – Large brown, spikes.

● 342 – Small red.

1891
James Monroe
● 343 – Small red.

● 344 – Small red.

$500 Silver Certificates

$500 Silver Certificates

Series
Portrait
Seal Type
1878
Charles Sumner
● 345a – Large red, rays.
1880
Charles Sumner
● 345b – Large brown.

● 345c – Large brown.

● 345d – Large brown.

$1000 Silver Certificates

$1000 Silver Certificates

Series
Portrait
Seal Type
1880
William Marcy
● 346b – Large brown.

● 346c – Large brown.

● 346d – Large brown.

1891
William Marcy
● 346e – Small red.

Varieties of Small-size Silver Certificates

$1 Silver Certificates

Small-size Silver Certificates

Series
Portrait
Seal Type
1928 to 1928-E
George Washington
● 1600 – Tate and Mellon (1928) – blue.

● 1601 – Woods and Mellon (1928A) – blue.

● 1602 – Woods and Mills (1928B) – blue.

● 1603 – Woods and Woodin (1928C) – blue.

● 1604 – Julian and Woodin (1928D) – blue

● 1605 – Julian and Morgenthau (1928E) – blue.

 

1934
George Washington
● 1606 – Julian and Morgenthau (1934) – blue.
1935 to 1935-G
George Washington
● 1607 – Julian and Morgenthau (1935) – blue.

● 1608 – Julian and Morgenthau (1935A)– blue | 1609 – Julian and Morgenthau (1935A) R-Exp – blue.

● 1610 – Julian and Morgenthau (1935A) S-Exp – blue.

● 1611 – Julian and Vinson (1935B) – blue.

● 1612 – Julian and Snyder (1935C) – blue.

● 1613W – Clark and Snyder (1935D) Wide – blue.

● 1613N – Clark and Snyder (1935D) Narrow – blue.

● 1614 – Priest and Humphrey (1935E) – blue.

● 1615 – Priest and Anderson (1935F) – blue.

● 1616 – Smith and Dillon (1935G) – blue.

 

1935-G to 1957-B
George Washington
● 1617 – Smith and Dillon (1935G) – blue.

● 1618 – Granahan and Dillon (1935H) – blue.

● 1619 – Priest and Anderson (1957) – blue.

● 1620 – Smith and Dillon (1957A) – blue.

● 1621 – Granahan and Dillon (1957B) – blue.

1935-A
George Washington
● 2300 – Julian and Morgenthau – brown.
1935-A
George Washington
● 2306 – Julian and Morgenthau (1935A) – yellow.

$5 Silver Certificates

$5 Silver Certificate

Series
Portrait
Seal Type
1934 to 1934-D
Abraham Lincoln
● 1650 – Julian and Morgenthau (1934) – blue.

● 1651 – Julian and Morgenthau (1934A) – blue.

● 1652 – Julian and Vinson (1934B) – blue.

● 1653 – Julian and Snyder (1934C) – blue.

● 1654 – Clark and Snyder (1934D) – blue.

1953 to 1953-C
Abraham Lincoln
● 1655 – Priest and Humphrey (1953) – blue.

● 1656 – Priest and Anderson (1953A) – blue.

● 1657 – Smith and Dillon (1953B) – blue.

● 1658 – Granahan and Dillon (1953C) – blue.

1934-A
Abraham Lincoln
2307 – Julian and Morgenthau (1934A) – yellow.

$10 Silver Certificates

$10 Silver Certificates

Series
Portrait
Seal Type
1933 to 1933-A
Alexander Hamilton
● 1700 – Julian and Woodin (1933) – blue.

● 1700a – Julian and Morgenthau (1933A) – blue.

1934 to 1934-D
Alexander Hamilton
● 1701 – Julian and Morgenthau (1934) – blue.

● 1702 – Julian and Morgenthau (1934A) – blue. 1703 – Julian and Vinson (1934B) – blue.

● 1704 – Julian and Snyder (1934C) – blue.

● 1705 – Clark and Snyder (1934D) – blue.

1953 to 1953-B
Alexander Hamilton
● 1706 – Priest and Humphrey (1953) – blue.

● 1707 – Priest and Anderson (1953A) – blue.

● 1708 – Smith and Dillon (1953B) – blue.

1934 to 1934-A
Alexander Hamilton
● 2308 – Julian and Morgenthau (1934) – yellow.

● 2309 – Julian and Morgenthau (1934A) – yellow.

Common Silver Certificates

Even though Silver certificates circulated quite well, there were some series that were more popular than others. This popularity and abundance makes them quite easy to acquire today, reducing their value to collectors.

Silver certificates issued in 1935 and 1957 are the most common ones out there and also have the lowest values. One in excellent condition can sell for around $5 but the value can drop as low as $1.50 if it is in good condition.

$5 Silver certificates from 1934 and 1953 are also common, but not as much as the aforementioned ones. These former can fetch around $30 depending on its condition and demand.

Rare and Valuable Silver Certificates

There are series with fewer surviving certificates compared to others, increasing their rarity and value. These ones generally have the highest values outside of Star notes and notes with unique serial numbers.

The $1 Silver certificate Educational Note is an example of a rare and valuable. You can get around $500 for one in good condition and one in perfect condition will fetch you as much as $4500.

Even though the 1928 series had several common varieties, it also had some of the rarest ones. The 1928C, 1928D, and 1928E varieties are all rare and very valuable to collectors. A standard one in very fine condition can go for as much as $5000.

Another example is the 1899 Black Eagle $1 Silver Certificate. Although it is not as valuable as the previous examples, it still commands a decent price of around $110 in good condition. However, if you find one in perfect uncirculated condition, you can get around $1,300 for it.

Star Notes

A silver certificate dollar bill that was damaged during production would have a note issued as replacements. This replacement note carries a star in front of its serial number to indicate its status for consistency.

Just like standard Star Notes, these ones also have a higher value than regular Silver certificates. The reason is primarily because of their rarity, giving them a collectible status and increasing their demand among collectors.

Silver Certificate Worth

While you can no longer redeem a silver certificate dollar bill for its worth in silver, you can get its face value in federal reserve notes. However, collectors value these certificates more than their face values and depending on some factors, regard some as more valuable than others.

Factors that Determine a Silver Certificate’s Worth

Grade

Collectors generally grade silver certificates on the Sheldon numerical scale. The scale initially worked for large cents but was later adjusted to handle any coin series. It ranges from 1 to 70, with the lowest representing basal state and the highest representing perfect mint state.

However, a more general and loose version classifies coins and certificates into six groups which we will cover below.

Good Condition (4, 5, 6)

This grade depicts the worse condition a silver certificate dollar bill can have and still be sellable. You will observe wrinkles on the bill and some features might even be fading. However, you can still sell it so far crucial details like serial number, portrait, denomination, and date are still intact and visible to the naked eye.

Very Good Condition (8, 10)

A bill in this condition looks slightly better than one in the previous condition. While you should be able to observe wrinkles on the bill, its features and colour would be better preserved than one in good condition.

Fine Condition (12, 15)

The bill is intact in its entirety but finer details and colors will indicate its age and exposure. Since most of the damage came from circulation and exchange, expect to see folds and wrinkles too.

Very Fine Condition (20, 25, 30, 35)

Bills with signs of use and wear but clear major design features fall into this category. It is important to note that this condition loosely covers up to four different grades.

Extremely Fine Condition (40, 45)

A silver certificate dollar bill in this condition retains all details from its production but lacks almost all of its original boldness and luster.

About Uncirculated Condition (50, 53, 55, 58)

This condition ranges from the bill lacking vivid colors at certain points to retaining full luster. The lowest number (50) indicates the former, while the highest number (58) under this category indicates the latter.

Crisp Uncirculated Condition (60 – 70)

You can regard this condition as the equivalent of a coin’s Mint State. It indicates that the bill has never been spent but instead been in storage. As such, the certificate maintains its crispiness, details, and color.

Generally, this grade has the most value outside of star notes and errors. Finding a rare one in this state will fetch decent to premium value depending on its number.

Star Note

The presence or absence of a star in front of the bill will influence its value. One with the star is worth more mainly because of its uniqueness and rarity.

However, not all star notes are valuable because some belong to a common series, making them quite easy to find. Such star notes are worth even less compared to rare standard certificates.

Serial Number

A silver certificate with a unique serial number is worth more than one with random numbers. Examples include repetitions and discernable patterns, with the former having the most value. Another example is a certificate with a palindrome serial number.

Collectors regard these types of certificates as wonderful additions, thereby willing to pay more to acquire them.

Errors/ Mistakes

Certian errors like folding and inking mistakes increase the worth of a silver certificate to collectors. The reason is that the error makes the bill unique, making it a worthy addition to a collection.

Rarity

Apart from the bill’s grade, its rarity directly influences every other factors in this section and ultimately its worth. The reason is that a bill’s attribute and serial number only makes it valuable because it is not common.

This is why unique notes that exist in greater numbers are not as valuable as those in rarer series. You can refer to our section on rare and valuable silver certificates for examples of rare ones.

How Much is a Silver Certificate?

The following table depicts the prices at which various certificates have sold, including their conditions.

$1 Silver Certificates

Series
Grade
Price
1928A
Very Fine (VF 30)
$155.00
1928
Very Fine (VF 30)
$40
1935F
About Uncirculated (AU 55)
$16.61
1934
About Uncirculated (AU 53)
$90.40
1957 (Star Note)
Very Fine (VF 30)
$28.82
1916L (Star Note)
Mint State 70
$22,500

$2 Silver Certificates

Series
Grade
Price
1953
$10.10
1928F
Very Fine
$24.50
1928A
Very Fine
$70.00

$5 Silver Certificates

Series
Grade
Price
1934B
About Uncirculated (AU 58)
$55
1934D
Mint State 65
$119.99
1934A
Mint State 65
$225
1953 (Star Note)
Mint State 65
$146.50
1953A (Star Note)
Mint State 67
$489

 $10 Silver Certificates

Series
Grade
Price
1934C
Very Fine (VF 25)
$57.75
1934
About Uncirculated (AU 58)
$90.99
1950B
About Uncirculated (AU 58)
$49.95

$20 Silver Certificates

Series
Grade
Price
1935A
$64.88
1934A
Very Fine
$72
1880
Very Fine (VF 30)
$9,225

$50 Silver Certificates

Series
Grade
Price
1891
$3,200

Best Way to Tell If a Silver Certificate is Original

It is important for you to be able to tell if a silver certificate is original or not to avoid paying for a fake. The best way is to have a professional appraiser take a look at it. However, the following tips will help you recognize some counterfeit bills.

  • Familiarize yourself with the features of an original. This way, you can easily spot anything different about a counterfeit bill.
  • Take note of the positioning of an original silver certificate.
  • The seals exist for a reason, take note of them.
  • If you are not suspicious of a bill’s serial number, perform a quick silver certificate serial number lookup online.

Where to Sell Your Silver Certificate

The most popular options for selling silver certificates include local pawn shops, online platforms, and auctions. While the first option is fast and easily accessible, it generally yields the least value of the three.

Online platforms like eBay and Heritage Auctions allow you to list your silver certificate for sale. People from all the country can then bid on it, making it possible for you to get higher values depending on how much they want it.

The last option is the best for rare and valuable bills. Listing them at an auction is bound to fetch you the most value for your certificate.

Wrapping Up

As an alternative to carrying raw silver bullion about, silver certificates found real success in the American society. However, they can only be redeemed for their face value in federal reserve notes today.

Fortunately, collectors still find them more valuable than their face value, making it possible to get higher prices for them.

3/5 - (2 votes)