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The 1957 Silver Certificate is a type of paper currency that was once minted in the United States, equal and redeemable for an equal amount of silver bullion. This $1 certificate was part of what was known as the small-note series. Beginning with the 1928 series, all United States paper currency was reduced in size to cut costs and to speed up the pace of transactions.

Before 1934, silver certificates were redeemable for actual silver dollars. However, Congress passed legislation in 1934 that allowed the government to exchange a certificate for silver bullion and not specifically silver dollars.

In the 1940’s and 1950’s, silver certificates began to disappear from circulation. The number of notes in circulation depended upon the amount of silver bullion that was contained in the vaults of the U.S. Treasury. Less silver was being produced. So, when a note was redeemed for silver bullion or dollars, it was shredded. It could not be put back into circulation unless the amount of silver being produced was increased.

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The 1935 Silver Certificate is one of the most popular notes among currency collectors. The history of these fascinating bills extends back to the 1800’s. It was the Congressional Acts of 1878 and 1886 that authorized the printing of Silver Certificates – for a very specific reason.

In those days, the supply of silver coins was far less than the demand. Thus, the government came up with the idea of creating a paper certificate in order to create a more efficient method of silver exchange. The certificates were redeemable on demand, for an equal amount of silver bullion and coins. The amount that was redeemable depended upon the denomination of the note.

Silver Certificates were issued in both small and large-sizes. The 1935 series was one of the series of small-size notes. These small-size notes were issued in denominations of $1.00, $5.00 and $10.00. The 1935 series included only the $1.00 denomination and either ‘F’ or ‘G’ series (with no motto). In 1934, the obligation on the note was changed to read that it was redeemable for “One Dollar in Silver,” not “One Silver Dollar,” as had been the case since the printing of the 1928 series silver certificate.

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