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The 1935A $1 Silver Certificate is a classic example of mid-20th-century U.S. paper currency, representing an era when the dollar was backed by tangible silver reserves. Issued during a period of economic recovery following the Great Depression, this note played a significant role in everyday commerce, allowing holders to exchange it for an equivalent amount of silver upon demand. Silver Certificates were a staple of the American monetary system from the late 19th century until their eventual phase-out in the 1960s, when the United States transitioned away from silver-backed currency. The 1935A series is particularly notable due to its longevity in circulation and the various experimental and wartime issues that arose from it.
The introduction of the 1935A Silver Certificate came as a continuation of the 1935 series, which modernized the design of the $1 note while retaining the essential elements that had been in place since the late 1920s. Unlike earlier Silver Certificates, which featured more ornate designs, the 1935 series simplified the layout, making it more in line with modern U.S. banknotes. The 1935A issue saw widespread circulation and underwent multiple printings, making it a historically significant piece of American currency. The note's longevity also led to various experimental issues, including special overprints and changes to paper composition during World War II.
The obverse of the 1935A $1 Silver Certificate features a portrait of George Washington, based on Gilbert Stuart’s famous painting. This portrait, which has been used on the $1 bill since 1928, is framed within an elegant border featuring fine line work that enhances the note’s security features. Above Washington’s portrait, the words “Silver Certificate” are prominently displayed, signifying the note’s unique status as redeemable for silver. Below the portrait, the denomination “One Dollar” is printed in bold lettering. The blue Treasury seal and serial numbers are characteristic of Silver Certificates, distinguishing them from Federal Reserve Notes, which feature a green seal.
The layout of the obverse includes additional design elements that reinforce the note’s authenticity. The phrase “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” appears below the Treasury seal, emphasizing the note’s backing by silver reserves. The note also includes the issuing authority’s signature, with the Treasurer of the United States and the Secretary of the Treasury’s printed names. These details help confirm the note’s legitimacy and tie it to the historical monetary policies of the time.
The reverse of the 1935A $1 Silver Certificate features a beautifully engraved design centered around the Great Seal of the United States. The left side of the reverse displays the unfinished pyramid with the all-seeing eye, a powerful symbol representing strength and divine guidance. Above the pyramid, the Latin inscription “Annuit Coeptis” translates to “He (God) has favored our undertakings,” while below the pyramid, “Novus Ordo Seclorum” means “A New Order of the Ages,” reflecting the founding ideals of the United States. The right side of the reverse showcases the heraldic eagle, clutching an olive branch in one talon and a bundle of arrows in the other, symbolizing the nation’s balance between peace and military strength.
The bold “One” numerals in each corner reinforce the denomination, ensuring instant recognition. The phrase “The United States of America” is displayed prominently across the top, while “One Dollar” appears below. The overall layout of the reverse mirrors that of modern U.S. currency, demonstrating the lasting influence of this design on American banknotes. The high level of detail and precision in the engraving reflects the craftsmanship of the Bureau of Engraving and Printing (BEP), which produced these notes with exceptional quality and consistency.
The 1935A $1 Silver Certificate was printed by the Bureau of Engraving and Printing in Washington, D.C., where all U.S. paper money was produced. These notes were issued in large quantities to meet the ongoing demand for small-denomination Silver Certificates. The 1935A series was in use for many years, with millions of notes printed over an extended period. While many of these notes circulated widely and experienced heavy use, well-preserved examples remain desirable to collectors.
The mintage of the 1935A Silver Certificate was substantial, as the $1 denomination was the most commonly used form of paper money in daily transactions. However, despite the high production numbers, few examples have survived in pristine condition. Many of these notes were used extensively before being retired, making uncirculated specimens highly sought after. Additionally, certain variations and experimental issues within the 1935A series, such as the North Africa and Hawaii overprints, further contribute to the series’ historical interest and collectibility.
The condition of this particular 1935A $1 Silver Certificate is graded as 66EPQ (Exceptional Paper Quality) by Paper Money Guaranty (PMG), indicating that it is in Gem Uncirculated condition. A 66EPQ note is among the finest known examples, exhibiting perfect centering, deep embossing, and pristine paper quality. The “EPQ” designation confirms that the note retains its original paper integrity, free from any pressing, cleaning, or artificial alterations. This high grade makes it a standout specimen among surviving examples of the 1935A series.
One of the defining characteristics of a 66EPQ note is its exceptional visual appeal. The ink remains bold and vibrant, with no signs of fading or wear. The paper is crisp and fresh, with no handling marks, folds, or creases. The margins are perfectly balanced, ensuring ideal centering of the design elements. The blue Treasury seal and serial numbers stand out sharply against the note’s background, adding to its overall eye appeal. The reverse remains equally flawless, with every detail of the Great Seal rendered in sharp relief.
Collectors highly value 66EPQ examples of the 1935A $1 Silver Certificate due to their combination of historical significance and outstanding preservation. While lower-grade notes are still collectible, Gem Uncirculated specimens command premium prices due to their rarity and superior condition. The presence of the EPQ designation further enhances the note’s desirability, as it guarantees the note’s originality and unaltered state. As a result, high-grade Silver Certificates from the 1935A series are among the most sought-after pieces in the numismatic market.
The market for Silver Certificates remains strong, with collectors drawn to their historical context and distinctive blue color scheme. The 1935A series, in particular, continues to attract interest due to its longevity and the various experimental issues associated with it. A 66EPQ example represents the pinnacle of preservation, ensuring that it will remain a treasured collectible for years to come. As more notes in lower grades enter circulation or experience further wear, high-grade specimens will become increasingly scarce, driving their long-term value.
Beyond its numismatic appeal, the 1935A $1 Silver Certificate serves as a tangible reminder of an era when paper money was directly tied to precious metal reserves. It reflects the evolution of U.S. monetary policy and the gradual shift away from redeemable currency toward the modern fiat system. The historical significance of these notes extends beyond their collectible value, offering insight into the financial landscape of the mid-20th century and the economic policies that shaped the nation.
Owning a 1935A $1 Silver Certificate in 66EPQ condition allows collectors to acquire one of the finest known examples of this historic issue. Whether viewed as an investment, a historical artifact, or a collector’s item, this note remains a prized addition to any collection of U.S. paper money. Its combination of limited high-grade availability, exceptional preservation, and connection to a bygone era of silver-backed currency ensures that it will continue to be a sought-after piece in numismatic circles for generations to come.