1 Dollar 1957 (1963) [B]

Obverse Image:
1 Dollar 1957 (1963) [B] front image

Reverse Image:
1 Dollar 1957 (1963) [B] back image

No obverse UV features.

No reverse UV features.

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Country: United States

Series: 1957 Silver Certificates

Value: 1 Dollar (USD)

Date on Banknote: 1957

Date of Issue: 1963-1964

Substrate: Paper (regular/other)

Issuing Authority: United States Treasury

Banknote Type: Issued Note

Pick No.: 419 b

The Banknote Book No.: Unknown

Additional catalog references

A Guide Book of United States Paper Money, by Arthur L. Friedberg: Fr#1621

Width: 156.00 mm

Height: 66.00 mm

Similar Banknote: None

Printer:

Watermark/Clear Window Description:
None.

Plate/Underprint Letter: B

Variety Description / Further Information:
Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its circulation of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard.[2] The certificates were initially redeemable for their face value of silver dollar coins and later (for one year from June 24, 1967, to June 24, 1968) in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but still valid legal tender at their face value and thus are still an accepted form of currency.

As was usual with currency during this period, the year date on the bill did not reflect when it was printed, but rather a major design change. Under the Silver Purchase Act of 1934, the authority to issue silver certificates was given to the U.S. Secretary of Treasury.[34] Additional changes, particularly when either of the two signatures was altered, led to a letter being added below the date. One notable exception was the Series 1935G $1 silver certificate, which included notes both with and without the motto "In God We Trust" on the reverse. 1935 dated one dollar certificates lasted through the letter "H", after which new printing processes began the 1957 series. In some cases printing plates were used until they wore out, even though newer ones were also producing notes, so the sequencing of signatures may not always be chronological. Thus some of the 1935 dated one dollar certificates were issued as late as 1963.

In the nearly three decades since passage of the Silver Purchase Act of 1934, the annual demand for silver bullion rose steadily from roughly 11 million ounces (1933) to 110 million ounces (1962).[40] The Acts of 1939 and 1946 established floor prices for silver of 71 cents and 90.5 cents (respectively) per ounce.[40] Predicated on an anticipated shortage of silver bullion,[41][42] Public Law 88-36 (PL88-36) was enacted on June 4, 1963, which repealed the Silver Purchase Act of 1934, and the Acts of July 6, 1939, and July 31, 1946,[43] while providing specific instruction regarding the disposition of silver held as reserves against issued certificates and the price at which silver may be sold.[nb 5] It also amended the Federal Reserve Act to authorize the issue of lower denomination notes (i.e., $1 and $2),[43] allowing for the gradual retirement (or swapping out process) of $1 silver certificates and releasing silver bullion from reserve.[42] In repealing the earlier laws, PL88-36 also repealed the authority of the Secretary of the Treasury to control the issue of silver certificates. By issuing Executive Order 11110, President John F. Kennedy was able to continue the Secretary's authority.[44] While retaining their status as legal tender, the silver certificate had effectively been retired from use.[33]

In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of silver certificates for silver dollar coins; during the following four years, silver certificates were redeemable in uncoined silver "granules". All redemption in silver ceased on June 24, 1968. While there are some exceptions (particularly for some of the very early issues as well as the experimental bills) the vast majority of small sized one dollar silver certificates, especially non-star or worn bills of the 1935 and 1957 series, are worth little or nothing above their face values. They can still occasionally be found in circulation.

Security Details:
Security fibers, raised printing (intaglio);
Material used: 75% cotton, 25% linen.

Prefix/Suffix:
Blue serial number, consisting of a prefix, 8 digit serial number and a suffix.

Keywords:
None

Withdraw Date: Unknown

Demonetization Date: Unknown

Signatures

Obverse First Predominant Color: black

Obverse Second Predominant Color: Unknown

Obverse Description:

President George Washington;
Seal of United States Department of the Treasury (in blue).

Reverse First Predominant Color: green

Reverse Second Predominant Color: Unknown

Reverse Description:

Ornate design that incorporates both sides of the Great Seal of the United States to the left and right of the word ONE. This word appears prominently in the white space at the center of the bill in a capitalized, shadowed, and seriffed typeface. A smaller image of the word "ONE" is superimposed over the numeral "1" in each of the four corners of the bill.

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Sources:

https://en.wikipedia.org/wiki/United_States_one-dollar_bill
https://en.wikipedia.org/wiki/Silver_certificate_(United_States)
https://en.wikipedia.org/wiki/Great_Seal_of_the_United_States
Linzmayer, Owen W. The Banknote Book: United States of America
Schmidt, Tracy L. Standard Catalog of World Paper Money, Modern Issues, 1961-Present. 24nd edition

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