A 1886 Paper Silverdollar. I wonder how they could call it a 'Silver' dollar ?..and I couldn't figure out who that was on it. I zoomed in on it to see that it's shown to be made in 1886, ..or at least it looks like it is.
Thats Martha Washington on it. These bills in very fine condition are bought for well over $600.00. So if this is yours Matthew, you have something there. It was called a "Fancy Back" because the back of the bill is quite ornate.
They started to do this because at the time it was cheaper than minting the coinage, lighter to carry and less conspicuous in your pocket. If you have a silver certificate today, you could still trade it in for a silver dollar coin, but you aren't going to get the kind of silver coin that was all silver as was back then.
Just wanted to add that US silver certificates started to be made in 1878. A lot of it had to due with the fact that many people were angry about the demonetization of silver in 1873. This was reversed in 1878 and so were born silver certificates and Morgan silver dollars.
I believe at the time, you could trade the silver certificate in for real silver.
ReplyDeleteThat's correct. So it would also have the same purchasing power of an actual silver dollar too.
ReplyDeleteOh,.okay. :-)
ReplyDeleteThats Martha Washington on it. These bills in very fine condition are bought for well over $600.00. So if this is yours Matthew, you have something there. It was called a "Fancy Back" because the back of the bill is quite ornate.
ReplyDeleteThey started to do this because at the time it was cheaper than minting the coinage, lighter to carry and less conspicuous in your pocket. If you have a silver certificate today, you could still trade it in for a silver dollar coin, but you aren't going to get the kind of silver coin that was all silver as was back then.
Very good Margaret !..however I don't own one..lol :-))
ReplyDelete(I just now got this notification)
Thats O.K., I hadn't written it too long ago. It only feels like I am online all day, I actually do stop and do other things. LOL
ReplyDeleteMe too, ..I stop and eat, and no one knows..lol
ReplyDeleteJust wanted to add that US silver certificates started to be made in 1878. A lot of it had to due with the fact that many people were angry about the demonetization of silver in 1873. This was reversed in 1878 and so were born silver certificates and Morgan silver dollars.
ReplyDeleteYou could get silver certificates until the Nixon years.
ReplyDelete