Author Topic: 'One Dollar in Silver...' bill  (Read 3235 times)

msafyan

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'One Dollar in Silver...' bill
« on: January 06, 2015, 09:35:27 AM »
Hi,

I found an old box of nick-nacks and found a one dollar bill (dated 1935). He noticed that on the bottom of the bill it said "One Dollar in Silver Payable to the bearer on demand". Does this mean anything? Should I take it to a coin shop to appraise?

Thanks in advance.

pzxc

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Re: 'One Dollar in Silver...' bill
« Reply #1 on: January 06, 2015, 09:43:47 AM »
That's a silver certificate. In almost every case, it's worth about $1.50 instead of $1.00.  Though you could spend it as a $1, it is legal tender. :P

http://www.oldcurrencyvalues.com/1935_one_silver_dollar.html

The exceptions that might make it worth more include things like if there was an interesting misprint on the bill or something.  The chances of it being worth more than a couple bucks are so exceedingly rare, that I wouldn't bother to have anyone look at it.  I would either keep it myself as an interesting keepsake or give it to someone in my family, maybe a nephew/niece because kids find things like this very cool (see also: 2 dollar bills, wheat pennies, buffalo nickels, dollar coins, pre-1965 coins made from 90% silver, etc -- interesting/fun/cool stuff but not really worth much unless you have a lot of them)

Hey It's Me

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Re: 'One Dollar in Silver...' bill
« Reply #2 on: January 06, 2015, 09:58:53 AM »
Hi,

I found an old box of nick-nacks and found a one dollar bill (dated 1935). He noticed that on the bottom of the bill it said "One Dollar in Silver Payable to the bearer on demand". Does this mean anything? Should I take it to a coin shop to appraise?

Thanks in advance.

Too bad it's not one dollar in 1935 dollars of silver payable, huh? :P

JetsettingWelfareMom

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Re: 'One Dollar in Silver...' bill
« Reply #3 on: January 06, 2015, 10:09:02 AM »
I have to disagree about the bill being worth so little...I'd keep it if I were you. After my father died I found his old coin collection including a few 1964 Kennedy half dollars 90% silver, dimes and quarters from pre 1960's. I know the half dollar was worth $11 or $12 on silver content alone, which is quite a bit more than 50 cents face. I doubt you'll get rich off of it, but it's a keepsake from a bygone era...

seattlecyclone

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Re: 'One Dollar in Silver...' bill
« Reply #4 on: January 06, 2015, 01:24:44 PM »
These haven't been convertible to silver since 1968. (source: Wikipedia)

You can still spend it like any other dollar bill, or hang onto it because it's pretty cool.

boarder42

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Re: 'One Dollar in Silver...' bill
« Reply #5 on: January 06, 2015, 01:44:37 PM »
jetset - those coins had actual silver in them this is a piece of paper money the value of which is 1.5 according to the website posted above.  assuming rarity due to non related articles doesnt make. 

Keeping it would be just to keep it. 

No Name Guy

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Re: 'One Dollar in Silver...' bill
« Reply #6 on: January 06, 2015, 02:11:55 PM »
Nice to keep it, or sell as there are currency collectors, same as the coin collectors.  Your local coin dealer can probably tell you what its worth.

Note that these silver certificates were in lieu of having the Morgan (or other) Silver Dollar coins actually circulate.  Most people preferred to have a few bills in their pocket to a stack of metal.

See
http://en.wikipedia.org/wiki/Dollar_coin_%28United_States%29#Release_of_dollars_by_the_US_Treasury:_the_GSA_sale

msafyan

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Re: 'One Dollar in Silver...' bill
« Reply #7 on: January 06, 2015, 02:12:43 PM »
OP here - thanks for the replies.
I do think it is a cool looking bill, so I will keep and pass on to the kid...
Much appreciated.