Asilver certificateis a certificate of ownership thatsilverowners hold instead of storing the actual silver. Several countries have issued silver certificates, including Cuba, the Netherlands, and the United States. Silver certificates have also been privately issued by various mints and bullion companies. One example was theLiberty Dollarissued byNORFEDfrom 1998 to 2009.
Cuba
editCuban silver certificates were issued between 1934 and 1949 (and circulated from 1935 to the early 1950s). Prior and subsequent issues ofCubanbanknotes were engraved and printed by private bank note companiesinthe United States, but the series from 1934 to 1949 were designed, engraved, and printedbythe US at theBureau of Engraving and Printing(BEP).[1][2][3]
The first Cuban banknotes were issued in 1857 for El Banco Español De La Habana.[4][nb 1]Beginning in the late 1860s, Cuba contracted the National Bank Note Company (NBNC) for two issues of banknotes in 1869[5]and 1872.[6]After absorbing NBNC, theAmerican Bank Note Company(ABNC) engraved and printed Cuban banknotes for issues in 1889,[6]1896,[7]1897,[8]1905 for the National Bank of Cuba,[9]1944,[10]and a 1949–50 issue for the Banco Nacional De Cuba (printed until 1960).[10]Between 1905 and the introduction of BEP issued Cuban silver certificates in 1934, no banknotes were produced.[11]
Netherlands
edit
In 1914, because of silver shortage for minting, the Dutch government introduced silver certificates (zilverbonnen) for 1, 2½ and 5guilder.Although the 5 guilder were only issued that year, the 1 guilder notes continued until 1920 and the 2½ guilder until 1927. In 1926, the Netherlands Bank introduced 20 guilder notes, followed by 50 guilder in 1929 and 500 guilder in 1930. These introductions followed the cessation of production of the unusual 40, 60 and 300 guilder notes during the 1920s. In 1938, silver notes were reintroduced for 1 and 2½ guilders.
United States
editSilver certificates were issued between 1878 and 1964 in the United States as part of its circulation ofpaper currency.[12]They were produced in response tosilver agitationby citizens who were angered by theFourth Coinage Act,which had effectively placed the United States on agold standard.[13]The certificates were initially redeemable for their face value ofsilverdollar coinsand later (for one year – 24 June 1967 to 24 June 1968) in raw silver bullion.[12]Since 1968 they have been redeemable only inFederal Reserve Notesand are thus obsolete, but still validlegal tenderat their face value.[12]
Large-size silver certificates (1878 to 1923)[nb 2]were issued initially in denominations from $10 to $1,000 (in 1878 and 1880)[15][16]and in 1886 the $1, $2, and $5 were authorized.[16][17]In 1928, all United States bank notes were re-designed and the size reduced.[18]The small-size silver certificate (1928–1964) was only issued in denominations of $1, $5, and $10.[19]
See also
editReferences
edit- ^Phillips, J.D. (24 March 1934)."$10,000,000 Silver Ordered by Cuba".The New York Times.p. 6 – viaProQuestHistorical Newspapers: The New York Times (1851-2010).
- ^Shafer, 2001, p.298.
- ^Cuhaj, George S. (2012).Standard Catalog of United States Paper Money.Krause Publications. pp. 403–405.ISBN978-1-4402-3087-5.Retrieved11 October2014.
- ^abCuhaj, 2012, p.397.
- ^Cuhaj, 2012, p.398.
- ^abCuhaj, 2012, p.399.
- ^Cuhaj, 2012, p.401.
- ^Cuhaj, 2012, p.402.
- ^Cuhaj, 2012, p.403.
- ^abCuhaj, 2012, p.405.
- ^Cuhaj, 2012, p.404.
- ^abc"Silver Certificates".Bureau of Engraving and Printing/Treasury Website. Archived fromthe originalon 3 April 2014.Retrieved12 February2014.
- ^Leavens, p. 24.
- ^Friedberg & Friedberg, p. 7.
- ^Blake, p. 18.
- ^abFriedberg & Friedberg, p. 74.
- ^Knox, p. 155.
- ^Friedberg & Friedberg, p. 185.
- ^Friedberg & Friedberg, p. 187.
Notes
edit- ^In denominations of 50, 100, 300, 500, and 1,000 pesos.[4]
- ^Large size notes represent the earlier types or series of U.S. banknotes. Their "average" dimension is 7.375 × 3.125 inches (187 × 79 mm). Small size notes (described as such due to their size relative to the earlier large size notes) are an "average" 6.125 × 2.625 inches (156 × 67 mm), the size of modern U.S. currency. "Each measurement is +/- 0.08 inches (2mm) to account for margins and cutting".[14]
Bibliography
edit- Blake, George Herbert (1908).United States paper money.George H. Blake.Retrieved13 March2014.
- Friedberg, Arthur L.; Friedberg, Ira S. (2013).Paper Money of the United States: A Complete Illustrated Guide With Valuations(20th ed.). Coin & Currency Institute.ISBN978-0-87184-520-7.Retrieved14 February2014.
- Knox, John Jay (1888).United States Notes: A history of the various issues of paper money by the government of the United States(3rd ed.). Charles Scribner’s Sons.
- Leavens, Dickson H. (1939).Silver Money.Principia Press, Inc.Retrieved13 February2014.
- Shafer, Neil (2001). "1934–1949 Silver Certificates of Cuba Made by the U.S. BEP".Paper Money.40(5).Society of Paper Money Collectors:298–307.
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