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If you have a silver certificate form the US Government that says will pay in silver to the bearer on demand will they pay you?
WarnerAthey
No. Since the mid-1960s, Silver Certificates have been redeemable only in Federal Reserve Notes (normal US paper currency). They are still valid legal tender in the US, but (depending on the year and condition) they may sometimes be worth more than their face value as a collectible.
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∙ 14y ago
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In silver payable to the bearer on demand?
Text from a US Silver Certificate...from when US money was actually backed by something of value, and not just the governments word.MoreAt one time the price of silver was fixed by the government. Paper "silver certificates" were printed in amounts up to the value of the total amount of silver held on deposit in the Treasury. It also meant that each silver certificate could be redeemed for a specific amount of silver metal because the two were linked in value. When industrial demand for silver increased in the early 1960s the government was forced to deregulate its price. That meant that each silver certificate could no longer be tied to a fixed amount of silver. Printing was suspended by 1965 and redemption for silver metal ended shortly after that.There has been considerable debate over that decision but it belongs in threads related to politics and economics rather than US Banknotes.
One dollar in silver payable to the bearer on demand?
That was written on the old US $1 silver certificate. At they time they were still in use, they could be redeemed for a dollar's worth of silver coins, but this practice was discontinued in the 1960s. The bill is still legal tender at face value today.
How much is a silver certificate one dollar bill worth with c at the end of the serial number?
If the bearer can redeem the note into silver metal, I would guess it is worth the going price of silver on the day the bearer exchanges it or sells the metal.
What is the value on a One Silver Dollar Payable To The Bearer on Demand?
Please post a new question with the bill's date and what letter if any is next to the date, because it's not possible to provide a value without that information. If you look at the top of your bill you'll see it's called a Silver Certificate, a form of paper money that was discontinued in the 1960s.
What does a 1957 US 1 dollar silver certificate look like?
The layout of the back is essentially identical to modern $1 bills. The front is similar but with some obvious differences, such as the words "Silver Certificate" and "In silver payable to the bearer on demand"; a blue seal and serial numbers; and the absence of a Federal Reserve seal. Beyond that, an actual picture is much more instructive. While it's not Answers.com policy to say "use the Internet", that's the best approach in this case. You can use any major search engine to look for "1957 1 dollar silver certificate images" or a similar phrase.
What do us silver certificates look like?
It really depends on the series, but the small sized series look very similar to a normal US dollar bill only rather than having a green serial number it is blue. It also has a blue seal, says "Silver certificate" at the top, and rather than saying "X Dollar(s)" it says "X Silver Dollar(s) Payable to Bearer on demand" Earlier silver certificates will look different. For images just Google "Silver Certificate" and look at the different types.
Why were silver certificate dollars made?
Until the mid-1960s silver certificates were backed with silver on deposit in the US Treasury. Only as many dollars worth of silver certificates could be issued as there was silver on hand, which acted as a control on the money supply. The phrase "will pay to the bearer on demand", etc. was honored in various ways over the years - sometimes in silver bullion, sometimes in silver coins - depending on the laws in effect at the time and the availability of each form of the metal. Redemption of silver certificates was halted when the price of silver was deregulated and the US stopped backing its money with precious metals. The government could no longer guarantee a fixed amount of silver for each dollar, and in fact the Treasury's stockpile of silver was sold off.
1957a silver certificate?
How much is a 1957a silver certificate worth?
Can you cash in a one dollar silver certificate for one dollars worth of silver?
Not any longer. The government discontinued that practice about 45 years ago, when the price of silver was deregulated.
What is the value of a 1934 will pay to bearer on demand 20 dollar bill not a silver certificate?
The only $20 bills printed in the 1934 series were Federal Reserve Notes so I'm assuming that's what you have. In worn condition most of these retail for about $22 despite their age. In better shape the retail price depends on what series letter, if any, is next to the date. Series D bill retail for up to $30 in excellent condition, Series C up to $28, and the rest up to $24. FWIW, the last $20 silver certificates were issued in 1891. The wording "will pay to bearer on demand" is found on older FRN's but was removed from later series.
What is the FR number on a silver certificate?
There aren't any Federal Reserve indicators or seal on silver certificates. Silver certificates were issued directly by the government and not through the Federal Reserve system.
Is a silver certificate backed by 1 ounce of silver?
Silver certificates were backed by specific dollar amounts of silver. That is, a $1 silver certificate was backed by $1 worth of silver in the Treasury, a $5 certificate was backed by $5 worth of silver, etc. The government maintained a fixed price for silver bullion so the bills were indirectly backed by a specific weight. However the fixed price wasn't $1/troy ounce but $1.29, so the weight was roughly 0.77 troy ounces, or about 24 gm.
