What is a silver certificate?

A silver certificate is a form of legal tender that was issued by the United States Department of Treasury to the public in accordance with an Act of Congress dated on Feb. 28, 1878. People could trade the documents for silver dollars until May 25, 1964.

An Act of Congress dated June 24, 1967, also allowed the public to trade any silver certificates still in their possession for silver bullion. Congress granted this allowance for a period of a year, after which any silver certificates left outstanding became valid legal tender like any reserve note printed by the federal government.