Silver
Certificates

Silver Certificates were made lawful by an Act of Congress on February 28, 1878. This Congressional Act was in direct response to the Silver versus Gold agitation that came about when the United States adopted the Gold Standard in 1873. While the United States was never formally off the Gold Standard, Congress did respond to the pro-Silver forces with various laws for the Treasury to purchase and coin silver (as dollars).

Large heavy coins were not popular with most people. Silver Certificates therefore allowed the Treasury to mint its silver dollars, let them sit, and just issue paper against them. Silver Certificates originally were in denominations up to $1000; but after 1896, notes were kept to $10 and under.

All Series 1878 Silver Certificates (original issue) were countersigned by officers of the Treasury guaranteeing that these notes could be traded for Silver.

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