Silver Certificate 1923:
Vaya Con Dios – One silver dollar / longer video mix
End of the Silver Certificates
Certificates circulated, mainly in the $1 denomination, widely throughout the United States in the years following 1934. When the ’34s wore out, they were replaced with a new, more modern-looking Series 1953 (1935 for the $1 silvers; see below), with the same face changes as the Series 1950 Federal Reserve Notes had experienced. However, the Silver Certificates began to disappear from circulation during the 1940s and 1950s. The amount of Silver Certificates in circulation depended directly upon the amount of silver bullion in the Treasury vaults. As people redeemed the certificates for bullion or silver dollars, the notes were shredded, because the notes had lost their backing and could not be recirculated unless there was more silver being produced. The price of silver was also rising. In 1960, it was nearing $1.29, which meant that silver dollars were worth more than $1. This meant that people would receive their silver dollars and melt them down for the bullion, thereby reducing the amount of silver in circulation, which was already falling.
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. In the 1970s, large numbers of the remaining silver dollars in the mint vaults were sold to the collecting public for collector value.
Veröffentlicht unter: Finanzapokalypse, Justitia, Kunst, USA · Etiketten: $1 denomination, collector value, Dollar, Klein, Merilyn Monroe, one silver dollar, one silver dollar payable to the bearer on demand, silver bullion, Silver Certificate, Silver Certificate 1923, Silver Certificates, silver dollar, Treasury, United States, Vaya con Dios