In the realm of numismatics and currency collecting, few items capture the imagination quite like silver certificates. These unique pieces of American financial history served as legal tender in the United States for over 40 years, with their value intrinsically tied to the precious metal they represented – silver.
Among the most sought-after by collectors are the 1935 series of $1 silver certificates. But what exactly makes these antique notes so desirable, and how can you determine the value of your own 1935 silver certificate? In this comprehensive guide, we’ll explore the history behind these rare pieces, the factors that influence their worth, and tips for having your note appraised or graded by professionals.
What is a 1 Dollar Silver Certificate?
Before delving into the specifics of 1935 silver certificates, it’s important to understand the broader concept of what these unique pieces of currency represent.
Silver certificates were a form of paper money issued by the United States government starting in 1878. Unlike standard banknotes, however, each silver certificate had a stated value directly backed by an equivalent amount of silver bullion held in the U.S. Treasury vaults.
This meant that, in theory, any holder of a silver certificate could present it to the government and exchange it for the corresponding amount of silver metal based on the face value displayed on the note.
The appearance of early 20th-century silver certificates was quite distinct, bearing blue seals and serial numbers along with the phrases “This Certifies that there have been Deposited in the Treasury of The United States of America X Dollars in Silver Payable to the Bearer on Demand” and of course the iconic “Silver Certificate” designation.
While no longer considered legal tender after 1964, silver certificates nonetheless remain immensely popular among currency enthusiasts and represent an important part of America’s numismatic and monetary history.
A Closer Look at 1935 Silver Certificates
The year 1935 marked a particularly significant period in the history of U.S. silver certificates. In that year, a new series of small-sized notes was introduced under the Series of 1935A designation. These new $1 silver certificates replaced the previous, larger-sized notes from the 1920s with a more compact and modern 6.14″ x 2.61″ design.
Several key details distinguished the 1935 series silver certificates, including:
- Size: As mentioned, the smaller 6.14″ x 2.61″ dimensions were a major design change.
- Seals: Most 1935 series notes featured the traditional blue seal and serial numbers.
- Serial Numbers: Several signature combination varieties existed with the signatures of different Treasury officials.
- Mint Marks: Some 1935 series notes displayed mintmarks like “A” for the Philadelphia mint.
- Replacements: Star notes with a star preceding the serial number were printed to replace defective notes.
While not initially released with any specific intent to appeal to collectors, many unblemished 1935 silver certificates did happen to be preserved in excellent condition over the subsequent decades. This rarity factor, combined with their historical significance, makes them highly sought-after by numismatic enthusiasts today.
Grading and Determining Value
So what exactly makes one 1935 silver certificate more valuable than another? As with most collectible currency, the biggest influencing factor is the condition of the individual note.
Professional third-party grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) use highly standardized grading scales to assess and certify the state of preservation for paper money.
The main grades for collectible currency are:
- Uncirculated (MS): A perfect, brand-new note with no folds, creases or other imperfections.
- Extremely Fine (XF): Very slight circulation evidence but still crisp and bright overall.
- Fine (F): Moderate signs of handling and circulation like light folds or soiling.
- Very Good (VG): Extensive circulation evidence and flaws like heavy folds, tears or paper erosion.
Within the Uncirculated grade, additional plus grades like MS-68 (Gem Uncirculated) denote exceptional quality notes with perfect centering, embossing, and paper quality. These virtually pristine examples can fetch premium prices at auction or from dealers.
Other factors like repeating serial numbers, errors in printing or design elements, and the presence or absence of mint marks can further impact the value of a 1935 silver certificate for collectors specializing in those areas.
Here’s a quick overview of some key value factors for 1935 $1 silver certificates:
Condition
- Uncirculated (MS-63 to Gem MS-68): $2 – $4.25+
- Extremely Fine (XF-40): $1.50 – $3
- Fine (F-12): $1.25 – $2
- Very Good (VG-8): $1 – $1.50
Errors and Varieties
- Missing “In God We Trust” (Extremely Rare): $3,000+
- Repeating/Low Serial Numbers: Premium based on number
- Mule (design/denomination mismatches): Premium based on rarity
- Double/Offset Printing Errors: Premium based on degree of error
Star Notes
- Replacement Notes (With * before serial number): $1.25 – $3+ based on condition
Mint Marks
- 1935A (Philadelphia): No premium
- 1935D (Denver) & 1935E (West Point): Premium for scarcity
While those are just general value estimates, always remember that professional certification and grading is recommended for any valuable note to confirm its authenticity and exact condition.
How to Get Your 1935 Silver Certificate Evaluated
With such a wide range in value between circulated examples and pristine uncirculated specimens, it’s crucial to have any 1935 silver certificate properly evaluated if you suspect it may be worth more than just its $1 face value.
Here are some options to consider for getting an accurate appraisal:
Online Valuation Resources
For a preliminary, informal evaluation, you can use online grading resources like the PCGS Photograde tool or the NGC Coin Explorer. By uploading high-quality images of your note, these resources use advanced imaging software to analyze details like centering, printing quality, and surfaces to provide an estimated grade.
While not a substitute for professional certification, these tools are handy for getting a general sense of your note’s condition and approximate value range.
Coin Dealers and Appraisal Services
Your next option is to have your 1935 silver certificate examined by an experienced numismatist or professional paper money appraiser. Reputable coin dealers and appraisal companies employ experts trained in meticulously evaluating collectible currency.
They’ll assess key factors like:
- Edge, surface, and paper quality
- Centering of printing elements
- Embossing and ink quality
- Any damage like tears, holes or stains
With their specialized expertise and certified grading tools, these professionals can provide a highly accurate grade and valuation, which is crucial if your note may be particularly valuable.
Third-Party Grading Services
For notes expected to be in extremely fine or better condition, you may want to consider having your 1935 silver certificate officially graded and encapsulated by a major third-party grading service.
PCGS and NGC are the two leading paper money grading agencies. By sending your note to their teams of expert graders, they’ll evaluate, grade, attribute any varieties, and seal your certified note in an inert gas-filled holder to preserve its condition.
While there are fees involved for this premium service,
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While there are fees involved for this premium service, having your note officially graded and encapsulated is highly recommended if it is expected to be a valuable, high-grade example. A PCGS or NGC certification provides:
- Confirmation of authenticity
- Standardized, consistent grading
- Permanent encapsulation for protection
- Easier resale and liquidity for valuable notes
Do Your Research
Whether just casually collecting or looking to invest in rare currency, it pays to thoroughly research any 1935 silver certificate you acquire or intend to sell. There are many excellent online resources, price guides, and collector communities that can help you:
- Accurately identify genuine notes vs. reprints/fakes
- Cross-reference examples of errors, varieties, and serial number rarities
- Track recent auction prices for fairly valuing a note
- Find reputable buyers for premium, certified examples
Some recommended educational resources on 1935 silver certificates include:
- The Friedberg Catalog – Definitive price/variety guide by Arthur and Ira Friedberg
- PCGS Currency Site – Population data, price guides, articles
- Littteton Coin Company Blogs – Collecting advice, tips, historical info
- Online collector forums like CoinTalk and Numismatic News
The more you immerse yourself in research from leading experts, the better prepared you’ll be to recognize a truly rare or valuable 1935 note when you encounter one.
Where to Buy or Sell Your 1935 Silver Certificate
Once you’ve taken steps to authenticate and evaluate the condition of your 1935 silver certificate, the next step is finding an avenue for buying, selling or trading notes with other collectors or investors.
Here are some of the most popular options to consider:
Coin Dealers and Currency Specialists For serious collectors, working directly with a reputable coin dealer or paper money specialist is highly recommended. Well-established dealers have extensive numismatic expertise to accurately grade and value your notes. They also maintain global collector networks for sourcing rare material and achieving top market prices when selling.
Online Auctions and Marketplaces
While having more risks buying from unknown sellers, online platforms like eBay can sometimes turn up good buying opportunities. Major auction houses like Heritage and Stack’s Bowers also hold regular online certified currency auctions.
Collector Shows and Conventions
Another great option is to buy, sell and trade notes directly with fellow enthusiasts at major coin shows and numismatic conventions held nationwide. This allows you to examine items in person and negotiate directly.
No matter which avenue you choose, always be cautious of counterfeit currency. Only purchase from trusted, accredited dealers and have notes authenticated or graded by a respected service before completing any major transaction.
Key Takeaways on Collecting and Investing in 1935 Silver Certificates
To summarize all we’ve covered on these fascinating vintage bank notes:
- 1935 marked the first small-sized redesign of U.S. silver certificates
- Condition is the single biggest factor affecting value for collectors
- Uncirculated examples in top grades like MS-65+ can be worth $100s or even $1000s
- Other premium varieties include errors, repeating serials, and certain mintmarks
- Having notes certified by PCGS or NGC is recommended for any valuable example
- Take time to thoroughly research any 1935 note’s specific details and value markers
- Buy/sell through reputable dealers or collector networks to ensure authenticity
While not recognized as legal tender anymore, the appeal of these rare vintage 1935 $1 silver certificates endures for collectors and investors. With their silver backing, intriguing history, and collectibility factors, these notes represent a fascinating intersection of numismatics, artwork, and American financial history.
Who knows – Your family’s preserved stash of 80-year-old pocket change could contain a hidden and highly valuable 1935 silver certificate rarity just waiting to be uncovered! Only through understanding the nuances of these notes and working with experts can you maximize their true worth.