What Are 1957 $1 Silver Certificates Worth?

PCGS - Did you find a Series 1957 $1 Silver Certificate Dollar Bill and want to know what it's worth? First off, congratulations, because such old banknotes hardly ever turn up in circulation these days. And if you found that old 1957 Dollar Bill in an odd place, such as an old chest of drawers, a steamer, or perhaps received it as part of an inheritance, you've still scored a pretty neat find. But what's the real value of a banknote like that? Let's examine the history and collectible value of these notes, including how much your 1957 $1 Silver Certificate might be worth.


Series 1957 $1 Silver Certificate

The Story Behind Silver Certificates
Originally issued for the redemption of silver on demand, Silver Certificates were originally authorized by two Acts of Congress in 1878 and 1886 and in denominations ranging from $1 to $1,000. The notes underwent a series of changes over the years, including designs, physical sizes, and legal tender obligations (as declared on the obverse of the notes).

The obligation on the Series 1957 $1 Silver Certificate states, "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. This certificate is legal tender for all debts public and private."

When these notes were originally issued, someone with these notes could have walked into a typical bank and would expect to receive silver coins amounting to the face value of the Silver Certificates surrendered in that transaction. So, in the late 1950s or early 1960s, that may have meant trading in a Series 1957 $1 Silver Certificate for a Morgan dollar or Peace dollar, large silver coins that were still readily available for face value during that time.

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