User:Godot13/List of United States Silver Certificates

$5 Series 1899 silver certificate depicting Running Antelope of the Sioux.

The $1 silver certificate from the Hawaii overprint series.

Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard. The certificates were initially redeemable for their face value of silver dollar coins and later (for one year – 24 June 1967 to 24 June 1968) in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender.

Large-size silver certificates (1878 to 1923) were issued initially in denominations from $10 to $1,000 (in 1878 and 1880) and in 1886 the $1, $2, and $5 were authorized. In 1928, all United States bank notes were re-designed and the size reduced. The small-size silver certificate (1928-1964) was only issued in denominations of $1, $5, and $10.

History

The Coinage Act of 1873 intentionally omitted language authorizing the coinage of “standard” silver dollars and ended the bimetallic standard that had been created by Alexander Hamilton. While the Coinage Act of 1873 stopped production of silver dollars, it was the 1874 adoption of Section 3568 of the Revised Statutes that actually removed legal tender status from silver certificates in the payment of debts exceeding five dollars. By 1875 business interests invested in silver (e.g., Western banks, mining companies) wanted the bimetallic standard restored. People began to refer to the passage of the Act as the Crime of '73. Prompted by a sharp decline in the value of silver in 1876, Congressional representatives from Nevada and Colorado, states responsible for over 40% of the world’s silver yield in the 1870s and 1880s, began lobbying for change. Further public agitation for silver use was driven by fear that there was not enough money in the community. Members of congress claimed ignorance that the 1873 law would lead to the demonetization of silver, despite having had three years to review the bill prior to enacting it to law. Some blamed the passage of the Act on a number of external factors including a conspiracy involving foreign investors and government conspirators.

In response, the Bland–Allison Act, as it came to be known, was passed by Congress (over a Presidential veto) on February 28, 1878. It did not provide for the "free and unlimited coinage of silver" demanded by Western miners, but it did require the United States Treasury to purchase between $2 million and $4 million of silver bullion per month from mining companies in the West, to be minted into coins.

Large-size silver certificates

The first silver certificates (Series 1878) were issued in denominations of $10 through $1,000. Reception by financial institutions was cautious. While more convenient and less bulky than dollar coins, the silver certificate was not accepted for all transactions. The Bland–Allison Act established that they were “receivable for customs, taxes, and all public dues,” and could be included in bank reserves, but silver certificates were not explicitly considered legal tender for private interactions (i.e., between individuals). Congress used the National Banking Act of 12 July 1882 to clarify the legal tender status of silver certificates by clearly authorizing them to be included in the lawful reserves of national banks. A general appropriations act of August 4, 1886 authorized the issue of $1, $2, and $5 silver certificates. The introduction of low-denomination currency (as denominations of U.S. Notes under $5 were put on hold) greatly increased circulation.

Over the 12-year lifespan of the Bland–Allison Act, the United States government would receive a seigniorage amounting to roughly $68 million (between $3 and $9 million per year), while absorbing over 60% of U.S. silver production.

Small-size silver certificates

Treasury Secretary Franklin MacVeagh (1909–13) appointed a committee to investigate possible advantages (e.g., reduced cost, increased production speed) to issuing smaller sized United States banknotes. Due in part to the outbreak of World War II and the end of his appointed term, any recommendations may have stalled. On 20 August 1925, Treasury Secretary Andrew W. Mellon appointed a similar committee and in May 1927 accepted their recommendations for the size reduction and redesign of U.S. banknotes. On 10 July 1929 the new small-size currency was issued.

In response to the Japanese attack on Pearl Harbor, the Hawaii overprint note was ordered from the Bureau of Engraving and Printing on 8 June 1942. Issued in denominations of $1, $5, $10, and $20, only the $1 was a silver certificate, the others were Federal Reserve Notes. Stamped “HAWAII” (in small solid letters on the obverse and large letters on the reverse), with the Treasury seal and serial numbers in brown, these notes could be demonetized in the event of a Japanese invasion. Additional World War II emergency currency was issued in November 1942 for circulation in Europe and Northern Africa. Printed with a bright yellow seal, these notes ($1, $5, and $10) could be demonetized should the United States lose its position in the European or North African campaigns.

End of the silver certificates

In the nearly three decades since passage of the Silver Purchase Act of 1934, the annual demand for silver bullion rose steadily from roughly 11 million ounces (1933) to 110 million ounces (1962). The Acts of 1939 and 1946 established floor prices for silver of 71 cents and 90.5 cents (respectively) per ounce. Predicated by an anticipated shortage of silver bullion, Public Law 88-36 (PL88-36) was enacted on 4 June 1963 which repealed the Silver Purchase Act of 1934, and the Acts of 6 July 1939 and 31 July 1946, while providing specific instruction regarding the disposition of silver held as reserves against issued certificates and the price at which silver may be sold. It also amended the Federal Reserve Act to authorize the issue of lower denomination notes (i.e., $1 and $2), allowing for the gradual retirement (or swapping out process) of $1 silver certificates and releasing silver bullion from reserve. In repealing the earlier laws, PL88-36 also repealed the authority of the Secretary of the Treasury to control the issue of silver certificates. By issuing Executive Order 11110, President John F. Kennedy was able to continue the Secretary’s authority. While retaining their status as legal tender, the silver certificate had effectively been retired from use.

In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of silver certificates for coined silver dollars; during the following four years, silver certificates were redeemable in uncoined silver "granules." All redemption in silver ceased on June 24, 1968.

Issue

Series and varieties

Series and varieties of large-size silver certificates

Series	Value	Features/varieties
1878 and 1880	$10 $20 $50 $100 $500 $1,000	In addition to the two engraved signatures customary on United States banknotes (the Register of the Treasury and Treasurer of the United States), the first issue of the Series 1878 notes (similar to the early Gold Certificate) included a third signature of one of the Assistant Treasurers of the United States (in New York, San Francisco, or Washington DC). Known as a countersigned or triple-signature note, this feature existed for the first run of notes issued in 1880, but was then removed from the remaining 1880 issues.
1886	$1 $2 $5 $10 $20	The Act of 4 August 1886 authorized the issue of lower denomination ($1, $2, and $5) silver certificates. Similar to the Series 1878/1880 notes, the Treasury seal characteristics (size, color, and style) varies with the change of the Treasury signatures. The series is known for the ornate engraving on the reverse of the note.
1891	$1, $2 $5, $10 $20, $50 $100 $1,000	The Bureau of Engraving and Printing introduced the process of “resizing” paper for Series 1891 notes.
1896	$1 $2 $5	The Educational Series is considered to be the most artistically designed bank notes printed by the United States.
1899	$1 $2 $5	Large-size silver certificates from the Series of 1899 forward have a blue Treasury seal and serial numbers.
1908	$10
1923	$1 $5

Large-size United States silver certificates (1878-1923)

Complete typeset of large-size United States silver certificates (1878-1923)

Value	Series	Fr.	Image	Portrait	Signature & seal varieties
1$1	1886	Fr.217		Martha Washington	215 – 221 215 – Rosecrans and Jordan – small red, plain. 216 – Rosecrans and Hyatt – small red, plain. 217 – Rosecrans and Hyatt – large red. 218 – Rosecrans and Huston – large red. 219 – Rosecrans and Huston – large brown. 220 – Rosecrans and Nebecker – large brown. 221 – Rosecrans and Nebecker – small red, scalloped.
1$1	1891	Fr.223		Martha Washington	222 – Rosecrans and Nebecker – small red, scalloped. 223 – Tillman and Morgan – small red, scalloped.
1$1	1896	Fr.224		Allegory History Instructing Youth (obv); George Washington & Martha Washington (rev)	224 – Tillman and Morgan – small red, rays. 225 – Bruce and Roberts – small red, rays.
1$1	1899	Fr.226		Abraham Lincoln & Ulysses Grant	226 – 236 226 – Lyons and Roberts – blue. 227 – Lyons and Treat – blue. 228 – Vernon and Treat – blue. 229 – Vernon and McClung – blue. 230 – Napier and McClung – blue. 231 – Napier and Thompson – blue. 232 – Parker and Burke – blue. 233 – Teehee and Burke – blue. 234 – Elliott and Burke – blue. 235 – Elliott and White – blue. 236 – Speelman and White – blue.
1$1	1923	Fr.239		George Washington	237 – Speelman and White – blue. 238 – Woods and White – blue. 239 – Woods and Tate – blue.
2$2	1886	Fr.242		Winfield Scott Hancock	240 – 244 240 – Rosecrans and Jordan – small red. 241 – Rosecrans and Hyatt – small red. 242 – Rosecrans and Hyatt – large red. 243 – Rosecrans and Huston – large red. 244 – Rosecrans and Huston – large brown.
2$2	1891	Fr.246		William Windom	245 – Rosecrans and Nebecker – small red. 246 – Tillman and Morgan – small red.
2$2	1896	Fr.247		Allegory of Science Presenting Steam and Electricity to Commerce and Manufacture (obv); Robert Fulton & Samuel F.B. Morse (rev)	247 – Tillman and Morgan – small red. 248 – Bruce and Roberts – small red.
2$2	1899	Fr.249		George Washington	249 – 258 249 – Lyons and Roberts – blue. 250 – Lyons and Treat – blue. 251 – Vernon and Treat – blue. 252 – Vernon and McClung – blue. 253 – Napier and McClung – blue. 254 – Napier and Thompson – blue. 255 – Parker and Burke – blue. 256 – Teehee and Burke – blue. 257 – Elliott and Burke – blue. 258 – Speelman and White – blue.
5$5	1886	Fr.264		Ulysses Grant	259 – 265 259 – Rosecrans and Jordan – small red, plain. 260 – Rosecrans and Hyatt – small red, plain. 261 – Rosecrans and Hyatt – large red. 262 – Rosecrans and Huston – large red. 263 – Rosecrans and Huston – large brown. 264 – Rosecrans and Nebecker – large brown. 265 – Rosecrans and Nebecker – small red, scalloped.
5$5	1891	Fr.267		Ulysses Grant	266 – Rosecrans and Nebecker – small red, scalloped. 267 – Tillman and Morgan – small red.
5$5	1896	Fr.270		Allegory of Electricity Presenting Light to the World (obv); Ulysses Grant & Philip Sheridan (rev)	268 – Tillman and Morgan – small red. 269 – Bruce and Roberts – small red. 270 – Lyons and Roberts – small red.
5$5	1899	Fr.271		Running Antelope	271 – 281 271 – Lyons and Roberts – blue. 272 – Lyons and Treat – blue. 273 – Vernon and Treat – blue. 274 – Vernon and McClung – blue. 275 – Napier and McClung – blue. 276 – Napier and Thompson – blue. 277 – Parker and Burke – blue. 278 – Teehee and Burke – blue. 279 – Elliott and Burke – blue. 280 – Elliott and White – blue. 281 – Speelman and White – blue.
5$5	1923	Fr.282		Abraham Lincoln	282 – Speelman and White – blue.
10$10	1878	Fr.285a*		Robert Morris	283 – 285a 283 – Scofield and Gilfillan, CS by W.G. White – large red. 284 – Scofield and Gilfillan, CS by J.C. Hopper – large red. 284a – Scofield and Gilfillan, CS by T. Hillhouse* – large red. 284b – Scofield and Gilfillan, CS by T. Hillhouse – large red. 284c – Scofield and Gilfillan, CS by R.M. Anthony* – large red. 285 – Scofield and Gilfillan, CS by A.U. Wyman* – large red. 285a – Scofield and Gilfillan, CS by A.U. Wyman – large red.
10$10	1880	Fr.287		Robert Morris	286 – 290 286 – Scofield and Gilfillan, CS by T. Hillhouse – large brown with X. 286a – Scofield and Gilfillan, CS by A.U. Wyman – large brown with X. 287 – Scofield and Gilfillan – large brown with X. 288 – Bruce and Gilfillan – large brown with X. 289 – Bruce and Wyman – large brown with X. 290 – Bruce and Wyman – large red without X.
10$10	1886	Fr.291		Thomas Hendricks	291 – 297 291 – Rosecrans and Jordan – small red, plain. 292 – Rosecrans and Hyatt – small red, plain. 293 – Rosecrans and Hyatt – large red. 294 – Rosecrans and Huston – large red. 295 – Rosecrans and Huston – large brown. 296 – Rosecrans and Nebecker – large brown. 297 – Rosecrans and Nebecker – small red, scalloped.
10$10	1891	Fr.298		Thomas Hendricks	298 – Rosecrans and Nebecker – small red. 299 – Tillman and Morgan – small red. 300 – Bruce and Roberts – small red. 301 – Lyons and Roberts – small red.
10$10	1908	Fr.302		Thomas Hendricks	302 – Vernon and Treat – blue. 303 – Vernon and McClung – blue. 304 – Parker and Burke – blue.
20$20	1878	Fr.307		Stephen Decatur	305 – 307 305 – Scofield and Gilfillan, CS by J.C. Hopper – large red. 306 – Scofield and Gilfillan, CS by T. Hillhouse – large red. 306a – Scofield and Gilfillan, CS by R.M. Anthony – large red. 306b – Scofield and Gilfillan, CS by A.U. Wyman* – large red. 307 – Scofield and Gilfillan, CS by A.U. Wyman – large red.
20$20	1880	Fr.311		Stephen Decatur	308 – 312 308 – Scofield and Gilfillan, CS by T. Hillhouse – large brown. 309 – Scofield and Gilfillan – large brown. 310 – Bruce and Gilfillan – large brown. 311 – Bruce and Wyman – large brown. 312 – Bruce and Wyman – small red.
20$20	1886	Fr.316		Daniel Manning	313 – Rosecrans and Hyatt – large red. 314 – Rosecrans and Huston – large brown. 315 – Rosecrans and Nebecker – large brown. 316 – Rosecrans and Nebecker – small red.
20$20	1891	Fr.317		Daniel Manning	317 – 322 317 – Rosecrans and Nebecker – small red. 318 – Tillman and Morgan – small red. 319 – Bruce and Roberts – small red. 320 – Lyons and Roberts – small red. 321 – Parker and Burke – blue. 322 – Teehee and Burke – blue.
50$50	1878	Fr.324		Edward Everett	323 – 324c 323 – Scofield and Gilfillan, CS by W.C. White* or J.C. Hopper* – large red. 324 – Scofield and Gilfillan, CS by T. Hillhouse – large red. 324a – Scofield and Gilfillan, CS by R.M. Anthony – large red. 324b – Scofield and Gilfillan, CS by A.U. Wyman* – large red. 324c – Scofield and Gilfillan, CS by A.U. Wyman – large red.
50$50	1880	Fr.327		Edward Everett	325 – 329 325 – Scofield and Gilfillan – large brown, rays. 326 – Bruce and Gilfillan – large brown, rays. 327 – Bruce and Wyman – large brown, rays. 328 – Rosecrans and Huston – large brown, spikes. 329 – Rosecrans and Nebecker – small red.
50$50	1891	Fr.331		Edward Everett	330 – 335 330 – Rosecrans and Nebecker – small red. 331 – Tillman and Morgan – small red. 332 – Bruce and Roberts – small red. 333 – Lyons and Roberts – small red. 334 – Vernon and Treat – small red. 335 – Parker and Burke – blue.
100$100	1878	Fr.337b		James Monroe	336 – 337b 336 – Scofield and Gilfillan, CS by W.G. White – large red. 336a – Scofield and Gilfillan, CS by J.C. Hopper or T. Hillhouse – large red. 337 – Scofield and Gilfillan, CS by R.M. Anthony* – large red. 337a – Scofield and Gilfillan, CS by A.U. Wyman* – large red. 337b – Scofield and Gilfillan, CS by A.U. Wyman – large red.
100$100	1880	Fr.340		James Monroe	338 – 342 338– Scofield and Gilfillan – large brown, rays. 339 – Bruce and Gilfillan – large brown, rays. 340 – Bruce and Wyman – large brown, rays. 341 – Rosecrans and Huston – large brown, spikes. 342 – Rosecrans and Nebecker – small red.
100$100	1891	Fr.344		James Monroe	343 – Rosecrans and Nebecker – small red. 344 – Tillman and Morgan – small red.
500$500	1878	Fr.345a		Charles Sumner	345a – Scofield and Gilfillan, CS by A.U. Wyman* – large red, rays.
500$500	1880	Fr.345c		Charles Sumner	345b – Scofield and Gilfillan – large brown. 345c – Bruce and Gilfillan – large brown. 345d – Bruce and Wyman – large brown.
1000$1,000	1878	Fr.346a		William Marcy	346a – Scofield and Gilfillan, CS unknown – large red, rays.
1000$1,000	1880	Fr.346d		William Marcy	346b – Scofield and Gilfillan – large brown. 346c – Bruce and Gilfillan – large brown. 346d – Bruce and Wyman – large brown.
1000$1,000	1891	Fr.346e		William Marcy	346e – Tillman and Morgan – small red.

Small-size United States silver certificates (1928-1957)

Complete typeset of small-size United States silver certificates (1928-1957)

Value	Series	Fr.	Image	Portrait	Signature & seal varieties
1$1	19281928 to 1928-E	Fr.1600		George Washington	1600 – 1605 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.
1$1	19341934	Fr.1606		George Washington	1606 – Julian and Morgenthau (1934) – blue.
1$1	19351935 to 1935-G	Fr.1607		George Washington	1607 – 1616 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.
1$1	19571935-G to 1957-B	Fr.1619		George Washington	1617 – 1621 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.
5$5	19341934 to 1934-D	Fr.1650		Abraham Lincoln	1650 – 1654 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.
5$5	19531953 to 1953-C	Fr.1655		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.
10$10	19331933 to 1933-A	Fr.1700		Alexander Hamilton	1700 – Julian and Woodin (1933) – blue. 1700a – Julian and Morgenthau (1933A) – blue.
10$10	19341934 to 1934-D	Fr.1701		Alexander Hamilton	1701 – 1705 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.
10$10	19531953 to 1953-B	Fr.1706		Alexander Hamilton	1706 – Priest and Humphrey (1953) – blue. 1707 – Priest and Anderson (1953A) – blue. 1708 – Smith and Dillon (1953B) – blue.
1$1	1935-A1935-A	Fr.2300		George Washington	2300 – Julian and Morgenthau – brown.
1$1	1935-A1935-A	Fr.2306		George Washington	2306 – Julian and Morgenthau (1935A) – yellow.
5$5	1934-A1934-A	Fr.2307		Abraham Lincoln	2307 – Julian and Morgenthau (1934A) – yellow.
10$10	1934-A1934 to 1934-A	Fr.2309		Alexander Hamilton	2308 – Julian and Morgenthau (1934) – yellow. 2309 – Julian and Morgenthau (1934A) – yellow.

See also

• Gold certificate
• Silver standard
• Silver as an investment
• Representative money

References

Books & Journals

• Agger, Eugene E. (1918). "The Denominations of the Currency". The Quarterly Journal of Economics. 32 (2). Oxford University Press: 257–277. Retrieved 27 January 2014.
• Ascher, Leonard W. (1964). "The Coming Chaos in Our Coinage". Financial Analysts Journal. 20 (3). CFA Institute: 99–102. Retrieved 14 February 2014.
• Barnett, Paul (1964). "The Crime of 1873 Re-examined". Agricultural History. 38 (3). Agricultural History Society: 178–181. Retrieved 27 January 2014.
• Blake, George Herbert (1908). United States paper money. George H. Blake. {{cite book}}: Cite has empty unknown parameter: |book= (help)
• Carothers, Neil (1932). "A Senate Racket". The North American Review. 233 (1). University of Northern Iowa: 4–15. Retrieved 12 February 2014.
• Cuhaj, George S. (2012). Standard Catalog of United States Paper Money. Krause Publications. ISBN 978-1-4402-3087-5. Retrieved 14 February 2014.
• Dillon, C. Douglas (1963). Annual Report of the Secretary of the Treasury on the State of the Finances (PDF) (Report). United States Government Printing Office. pp. 400–403. Retrieved 15 February 2014.
• Friedberg, Arthur L.; Friedberg, Ira S. (2013). Paper Money of the United States: A Complete Illustrated Guide With Valuations (20th ed.). Coin & Currency Institute. ISBN 978-0-87184-520-7. Retrieved 14 February 2014.
• Friedman, Milton (1990). "The Crime of 1873". Journal of Political Economy. 98 (6). The University of Chicago Press: 1159–1194. Retrieved 27 January 2014.
• Grey, George B. (2002). Federal Reserve System: Background, Analyses and Bibliography. Nova Science Publishers, Inc. ISBN 1-59033-053-6. Retrieved 14 February 2014.
• Knox, John Jay (1888). United States Notes: A history of the various issues of paper money by the government of the United States (3rd ed.). Charles Scribner’s Sons. {{cite book}}: Cite has empty unknown parameter: |book= (help)
• Leavens, Dickson H. (1939). Silver Money. Principia Press, Inc. Retrieved 13 February 2014.
• Lee, Alfred E. (1886). "Bimetalism in the United States". Political Science Quarterly. 1 (3). The Academy of Political Science: 386–399. Retrieved 27 January 2014.
• McVey, Frank L. (1902). "The Reclassification of the Paper Currency". Journal of Political Economy. 10 (3). The University of Chicago Press: 437–442. Retrieved 11 June 2013.
• O’Leary, Paul M. (1960). "The Scene of the Crime of 1873 Revisited: A Note". Journal of Political Economy. 68 (4). The University of Chicago Press: 388–392. Retrieved 6 February 2014.
• Schwartz, John; Lindquist, Scott (2011). Standard Guide to Small-Size U.S. Paper Money – 1928 to Date. Krause Publications. ISBN 978-1-4402-1703-6. Retrieved 14 February 2014.
• Taussig, F.W. (1890). "The Silver Situation in the United States". The Quarterly Journal of Economics. 4 (3). Oxford University Press: 291–315. Retrieved 11 June 2013.
• Taussig, F.W. (1892). "The Silver Situation in the United States". Publication of the American Economic Association. 7 (1). American Economic Association: 7–118. Retrieved 11 June 2013.