answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why were silver certificate dollars made?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can you get silver for silver certificate dollars?

Not since 1967.


Does five dollars silver certificate have stars on them?

Well not many of them.


How much is a 1943 silver certificate dollar coin worth?

A silver certificate is paper currency. It is not a coin. No silver dollars were minted in 1943, and no silver certificates were printed with that date either.


Where do you get 1000 dollars for a crisp uncirculated 1957 silver certificate?

Nowhere, unfortunately. Unless it has a spectacular printing error, NO 1957 $1 silver certificate is worth more than a few dollars.


Were there any silver dollars made between 1935?

The last true silver dollars were made in 1935. That year marked the end of 90% silver dollars. The next silver dollars were made in 1971. These were Eisenhower dollars. They are not made of silver but rather of copper and nickel.


What is the value of a reconstruction era us silver certificate?

Fifteen dollars


Is there an issue of 1933 US dollars?

Not silver dollars, the Peace series skips from 1928 to 1934, since there was little demand for them during the Depression. 1928 series silver certificate currency (bills) were made during this period.


Is Morgan dollars made of silver?

Yes, Morgan dollars are made out of 90% silver.


What is the value of a 1.00 silver certificate series 1957b?

2-9 dollars.


What is a one dollar silver certificate series 1935F and 1935G worth?

About six dollars


What type of silver dollars were made in 1895?

Morgan Silver Dollars were struck in 1895


Why were no silver dollars made in 1950?

There were no silver dollars minted from 1936 through 1970. There wasn't a need for more to be made.