These certificates, a type of United States foreign money, have been redeemable for silver {dollars} or silver bullion. They have been issued below numerous acts of Congress, primarily from 1878 by 1964. A distinguished function was the promise printed on the face of the invoice guaranteeing fee in silver. Examples embrace the Sequence of 1899 that includes an allegorical illustration of Chief Operating Antelope, and the Sequence of 1934 depicting President Lincoln.
The importance of this foreign money lies in its illustration of a bimetallic financial customary. The power to trade paper cash for bodily silver instilled confidence within the nation’s monetary system. Traditionally, they served as a circulating medium in periods of financial enlargement and contraction. Their manufacturing ceased when the silver provide was depleted and the apply of redeeming them for silver ended.
