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The 1935A $1 Silver Certificate is a remarkable example of mid-20th-century U.S. paper currency, representing a time when Silver Certificates played a vital role in the nation's monetary system. Issued under the authorization of the U.S. Treasury, Silver Certificates were redeemable for silver bullion or coins, offering the public a more stable form of currency backed by tangible assets. The 1935A series, like its predecessors, was widely circulated and used for everyday transactions, making high-quality examples such as this 65PPQ (Premium Paper Quality) note particularly rare and sought after by collectors.
Silver Certificates were first introduced in 1878 as a response to the Bland-Allison Act, which required the U.S. Treasury to purchase silver for coinage. Unlike Federal Reserve Notes, which were backed by the government’s general credit, Silver Certificates were originally redeemable for an equivalent amount of silver dollars or bullion. By the time the 1935A series was issued, the role of Silver Certificates was evolving, and the U.S. was gradually moving away from silver-backed currency. However, these notes remained an essential part of the economy until their redemption for silver was officially discontinued in 1968.
The obverse of the 1935A $1 Silver Certificate features a highly detailed portrait of George Washington, based on the famous painting by Gilbert Stuart. Washington’s portrait is centered within an ornate frame that incorporates intricate linework and symmetrical patterns, emphasizing the craftsmanship of the Bureau of Engraving and Printing. Above Washington’s image, the words “Silver Certificate” are boldly printed, signifying the note’s backing by U.S. silver reserves. Below the portrait, the statement “This certifies that there is on deposit in the Treasury of the United States of America One Dollar in Silver Payable to the Bearer on Demand” reaffirms the note’s legal tender status and convertibility.
The obverse design also includes the distinctive blue Treasury seal and serial numbers, both printed in deep blue ink to differentiate Silver Certificates from other types of currency. The blue color scheme was a defining feature of Silver Certificates, ensuring that they were easily recognizable in circulation. The serial numbers appear twice, flanking Washington’s portrait, while the Treasury seal is positioned to the right. The note also includes the facsimile signatures of the Treasurer of the United States and the Secretary of the Treasury, which varied depending on the specific issue within the 1935A series.
The reverse of the 1935A $1 Silver Certificate features a bold, symmetrical design dominated by the words “The United States of America” and “One Dollar.” The central numeral “1” is encircled by ornate scrollwork, reinforcing the note’s official status. Unlike earlier Silver Certificates that featured elaborate vignettes or allegorical figures, the reverse of the 1935A note adopts a more simplified yet elegant design. This change was part of an effort to streamline the production process while maintaining security features that deterred counterfeiting.
The typography and layout of the reverse were carefully designed to ensure clear readability while maintaining an aesthetically pleasing balance. The combination of bold lettering, geometric patterns, and fine engravings contributes to the note’s visual appeal. This design remained largely unchanged throughout the later 1935 series modifications and was eventually carried over into the 1957 Silver Certificates, which marked the final series before the transition to Federal Reserve Notes.
The 1935A $1 Silver Certificate was printed at the Bureau of Engraving and Printing in Washington, D.C., the official facility responsible for producing all U.S. paper currency. This series saw widespread issuance and was used extensively in daily transactions, contributing to its historical significance. Despite its high mintage, relatively few notes have survived in pristine condition, as most were subjected to years of handling and circulation. The rigorous use of these notes makes well-preserved examples in high grades exceptionally rare and desirable.
The mintage of the 1935A $1 Silver Certificate was substantial, as these notes were an integral part of the U.S. currency supply. However, the survival rate of uncirculated examples is relatively low, given their role in everyday commerce. Many of these notes were worn down over time, exhibiting folds, stains, and other signs of handling. Finding a note in Gem Uncirculated condition, such as this 65PPQ specimen, is a rare occurrence and represents one of the finest surviving examples from this series.
The condition of this particular 1935A $1 Silver Certificate has been graded as 65PPQ by PCGS, indicating that it is in Gem New condition with Premium Paper Quality. A grade of 65 signifies that the note is in superb condition, free from any significant handling marks or imperfections. The "PPQ" designation is particularly important, as it certifies that the note retains its original paper integrity and has not been altered, pressed, or cleaned in any way. This ensures that the note is in the same condition as when it left the printing press.
One of the defining characteristics of a 65PPQ note is its impeccable eye appeal. The ink remains bold and vibrant, with no signs of fading or smudging. The paper is crisp and retains its original texture, free from any creases, folds, or damage. The blue Treasury seal and serial numbers contrast sharply against the note’s background, enhancing its visual impact. The fine details of Washington’s portrait on the obverse and the intricate scrollwork on the reverse remain exceptionally sharp, demonstrating the high level of craftsmanship that went into its production.
Collectors highly value 65PPQ examples of the 1935A $1 Silver Certificate due to their rarity and pristine condition. While circulated examples remain collectible, high-grade specimens are significantly scarcer and command premium prices. The PCGS certification provides additional assurance of the note’s authenticity and quality, making it a trusted addition to any collection. This note represents a near-perfect example of one of the most historically significant Silver Certificates ever issued.
The market for Silver Certificates remains strong, with collectors drawn to their historical importance, distinctive design, and connection to the era when U.S. currency was backed by precious metals. The 1935A series, as one of the last major Silver Certificate issues before the transition to fiat currency, holds a special place in U.S. numismatic history. A 65PPQ example represents one of the best-preserved pieces of this legacy, ensuring that it will remain a prized collectible for generations to come.
Beyond its numismatic appeal, the 1935A $1 Silver Certificate serves as a tangible link to a time when paper money was directly tied to silver reserves. It reflects a monetary system that gradually shifted away from precious metal backing, offering valuable insight into the economic and policy changes that shaped modern U.S. currency. The historical significance of these notes extends beyond their collectible value, providing a deeper understanding of the financial landscape of the mid-20th century.
Owning a 1935A $1 Silver Certificate in 65PPQ condition allows collectors to acquire a near-flawless example of this historic issue. Whether viewed as an investment, a historical artifact, or a collector’s showpiece, this note remains a treasured addition to any collection of U.S. paper money. Its combination of rarity, exceptional preservation, and historical significance ensures that it will continue to be a sought-after piece in numismatic circles for many years to come.