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The 1935E $1 STAR Silver Certificate in Uncirculated (UNC) condition is a prime example of mid-20th-century American paper money that combines historical importance, distinctive design elements, and collectible rarity. Silver Certificates were a form of U.S. paper currency issued between 1878 and 1964, originally redeemable for silver coin or bullion. The Series 1935E note falls into the extended 1935 series that includes suffix letters from A through H, each reflecting minor design changes or administrative updates during a lengthy production run. The 1935E subseries was printed in the early 1950s, a period when Silver Certificates were still trusted and widely used in everyday commerce. The STAR designation on this note indicates a replacement note—issued to substitute a misprinted or damaged note during production—and makes it far scarcer than regular issues.
Like all Silver Certificates of this era, the 1935E $1 STAR note features the familiar portrait of George Washington centered on the face. This image, based on the Gilbert Stuart painting, is framed by intricate scrollwork and flanked by an ornate border that incorporates security features designed to prevent counterfeiting. To the left of Washington’s portrait is the blue Treasury seal, and to the right is a large blue serial number beginning and ending with a star—a hallmark of replacement notes. Above the portrait reads “SILVER CERTIFICATE,” and below it, the denomination is spelled out in words: “ONE DOLLAR.” Beneath the portrait, the legal tender statement reads: “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.”
The reverse design of the note is dominated by the bold, green-inked motif that gives U.S. paper money the nickname “greenback.” The reverse features the denomination “ONE” in large letters, flanked by ornamental designs and framed with the text “THE UNITED STATES OF AMERICA.” The layout is symmetrical and stylized, emphasizing the federal backing and visual grandeur of the currency. The design remained consistent throughout the 1935 series and was not changed until the 1957 series, which incorporated the motto “IN GOD WE TRUST.” Thus, 1935E notes like this one do not carry that motto, making them more reflective of pre-Cold War era currency values and design philosophy.
The 1935E series was printed from approximately 1953 to 1957. Notes in this series were printed at the Bureau of Engraving and Printing (BEP) and were not issued with any Federal Reserve Bank markings. As a result, there is no Federal Reserve district seal, unlike modern Federal Reserve Notes. Instead, Silver Certificates were liabilities of the U.S. Treasury, backed by an equivalent value of silver bullion held in reserve. The STAR notes were printed in smaller quantities than regular notes, as they were used only to replace sheets that were misprinted, misnumbered, or otherwise damaged before they left the printing facility. Each replacement note reused the original serial number sequence, except with a star (*) at the end to denote its substitution.
Silver Certificates of the 1935E series were printed on high-quality cotton and linen blend paper, with embedded blue and red fibers that aided in authentication and prevented counterfeiting. The paper has a distinct texture and durability compared to modern currency. In Uncirculated (UNC) condition, this note remains bright, crisp, and free of folds, creases, or signs of handling. The margins should be even, corners sharp, and ink vibrant, with strong embossing from the intaglio printing process. The blue serial numbers and seal are especially vivid on pristine examples, and the paper should exhibit no staining, discoloration, or paper breaks. UNC STAR notes from this series are particularly hard to find, since most were used in commerce and did not survive in mint state.
The presence of the STAR symbol dramatically increases the note’s desirability among collectors. While regular 1935E notes are relatively common in high grade, the STAR notes were printed in far smaller numbers and had limited circulation. Depending on the specific block (prefix letters), some STAR notes from this series are considerably rarer than others, especially if the note comes from a low-run block or includes a fancy serial number. Examples with perfect centering and original paper sheen are especially prized and often command a significant premium over their non-STAR counterparts.
Grading standards for Uncirculated (UNC) paper currency are strict. A UNC 60 to UNC 63 note may exhibit minor production flaws such as slight ink smears, paper wave, or light handling, but no folds. A GEM UNC 65 or higher must have perfect centering, sharp corners, and impeccable surfaces with no visible defects. Third-party grading companies like PMG or PCGS Banknote often certify such notes, providing additional value and protection. A raw UNC 1935E STAR note, if truly pristine, can be highly competitive with graded examples depending on eye appeal and scarcity of the serial number block.
As of recent market trends, 1935E $1 STAR Silver Certificates in Uncirculated condition typically command values ranging from $60 to $150, depending on centering, eye appeal, and rarity of the serial block. GEM examples or notes with exceptional margins and bold printing can reach $200 or more. Notes with special serial numbers—such as low digits, repeaters, or ladders—can increase the value further. Certified GEM UNC examples from reputable grading services are even more desirable among advanced collectors and investors seeking guaranteed authenticity and preservation quality.
The historical context of the 1935E $1 STAR Silver Certificate adds another layer of collector interest. Printed during the Eisenhower era, these notes reflect a transitional time in American finance, culture, and politics. Though still redeemable in silver at the time, Silver Certificates like the 1935E were eventually rendered obsolete following the Treasury’s decision to end redemption in 1968. Nevertheless, they remain legal tender and are still honored at face value—though it would be a financial mistake to spend one given its collectible premium. These notes serve as tangible links to a time when the U.S. dollar was tied to precious metals, representing a distinct monetary philosophy that has since passed into history.
In conclusion, the 1935E $1 STAR Silver Certificate in Uncirculated condition is a striking and desirable piece of American currency history. Its bold blue seal, clean symmetrical design, and rare STAR replacement status make it a compelling addition to any collection of U.S. banknotes. Prized for both its condition and its symbolism, this note offers historical significance, artistic appeal, and investment potential. As an increasingly difficult item to find in high grade, it continues to be a favorite among collectors of mid-20th-century U.S. paper currency and a vivid reminder of the legacy of silver-backed dollars in American monetary heritage.