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Blue seals usually indicate that the note is a Silver Certificate.

Before silver was withdrawn from circulation, silver certificates were backed 1-for-1 with the same worth of silver metal in the Treasury. At that time the government controlled the price of silver and it was possible to exchange a silver certificate for the same value's worth of silver metal.

When silver was deregulated in the 1960s the government stopped that practice to prevent people from "gaming" the system by timing sales and purchases. $5 and $10 silver certificates were discontinued in the 1950s but $1 SC's continued to be printed up till about 1965. These carried the "series date" 1957, though. In 1963 the Treasury started issuing new $1 bills as Federal Reserve Notes with the same design and green seal color we still have today.

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