A certificate issued by a government that there has been deposited with it silver to a specified amount, payable to the bearer on demand. In the United States and its possessions, it is issued against the deposit of silver coin, and is not legal tender, but is receivable for customs, taxes, and all public dues. In the United States the redeemability in silver of silver certificates was discontinued in the 1970's; they are still (1997) accepted as money at the face dollar value, but cannot be redeemed in silver.

formerly a bank note issued by the United States Treasury and redeemable in silver

a bill formerly issued as legal tender by the U

Silver Certificates were used for a time in the United States as a form of paper currency. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which placed the United States on the gold standard. The certificate was matched to the same amount of value in silver coinage.

Simple Interest