|Pack Of 100 Mixed Silver Certificates - F-XF Condition!
Each of these packs contains 100 circulated silver certificates. All will have a mixture of 1935 and 1957 issues and you will even receive some of the scarce star notes! Grades will range from fine to extremely fine.
Silver certificates were initially redeemable for silver dollars, and later for raw silver bullion only. After being redeemed the silver certificates were shredded, because they had lost their backing and could not be recirculated unless there was more silver produced. The price of silver also started rising. In 1960, it was nearing $1.30 per ounce, which meant that silver dollars were worth more than $1. This meant that people could receive their silver dollars and melt them down, thereby reducing the amount of silver in circulation, which was by then already falling.
In March 1964, Secretary of the Treasury C. Douglas Dillon stopped the redemption of Silver Certificates for Silver Dollars. In the 1970s, large numbers of the remaining silver dollars in the mint vaults were sold to the collecting public for collector value. All redemption in silver ceased on June 24, 1968.