Читать книгу Coin Collecting For Dummies - Neil S. Berman - Страница 27

The front of old silver certificates (like the one shown in Figure 2-3) state that they’re redeemable on demand at a federally insured bank for one silver dollar (or, later, for silver). The U. S. paper silver dollar was exchangeable for a metal silver dollar from 1863 to 1968. In 1964, the government changed the law and said that it was no longer going to exchange paper money for silver money; it gave people until June 24, 1968, to exchange any silver certificates they had on hand. Since that date, the government has had no obligation to exchange silver certificates for silver or silver coins, although the certificates are still legal tender for all debts public and private. Because of their high numismatic value, though, some of these certificates have greater value as collector’s items than as money.

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FIGURE 2-3: Silver certificates.

The paper silver dollar was exchangeable for a metal silver dollar from 1863 to 1964. When the metal in the silver dollar became worth more than a dollar, the U.S. government stopped exchanging the paper dollar for the metal dollar.