1891 $2.00 Silver Certificate William Windom Good (Fr#245)
Currency Highlights:
- One of the many issues of U.S. paper money to feature a Treasury secretary on the front.
- Housed in an archival-quality currency sleeve.
- Good condition.
- Face: Head of William Windom at the center.
- Back: Obligation language in the scalloped center surrounded by the denomination.
- Rosecrans/Nebeker signature combo—Friedberg #245.
Handle your currency with care by adding these cotton gloves to your order.
These notes are quite collectible, being a scarce issue of silver certificates. Add this 1891 $2 silver certificate to your cart today!
An interesting fact about William Windom is that he not only served as Treasury secretary for Presidents James Garfield, Alan Arthur, and Henry Harrison, but he was also the great-grandfather and namesake of the television actor, William Windom.
What Is a Silver Certificate?
A silver certificate is a type of legal tender in the form of paper currency that was issued by the U.S. government beginning in 1878. These certificates were eventually phased out in 1964 and today can be redeemed for their face value in cash only, rather than in actual silver.
KEY TAKEAWAYS
- A silver certificate is a type of former legal tender in the form of paper currency, which was issued by the U.S. government beginning in 1878.
- It represented a stated amount of silver bullion, enabling individuals to buy the commodity without taking physical possession of it.
- In March 1964, the U.S. Treasury Secretary announced that silver certificates would no longer be redeemable for silver dollars.
- Today silver certificates can be redeemed for their face value in cash only.
Understanding Silver Certificates
Silver certificates were created to allow an investor to buy silver without having to take physical possession of the commodity. They represented a stated amount of silver bullion purchased or held by an investor and were deemed payable to the bearer upon demand.
The first releases of the silver certificate notes were a larger size than their subsequent counterparts, which were similar in dimensions to the modern U.S. paper currency in circulation today. The larger certificates had denominations ranging from $1 to $1,000, while the smaller-sized ones were available mainly in lower denominations. These certificates featured portraits of notable Americans, including George Washington, Abraham Lincoln, and Ulysses Grant.
In March 1964, the U.S. Treasury Secretary announced that silver certificates would no longer be redeemable for silver dollars, and the government stopped printing them soon after.
History of the Silver Certificate
Although the U.S. stopped minting silver coins in 1806, both gold and silver coins were usable as legal tender until 1861. Before the release of the silver certificates, the United States was on a bimetallic standard. U.S. residents often accumulated wealth in the form of silver bullion, which they were free to change into coins considered legal tender. Residents could also have coins made from gold in their possession.
Andrew (verified owner) –
Item as described. Happy with purchase. Item well packaged and shipped quickly. Recommend seller.
Kirsten (verified owner) –
Mailed fast, packaged well and bills were as described. Perfect.
Flowers (verified owner) –
FANTASTIC transaction. BEAUTIFUL note. LOVE it. SECURE packing. SWIFT delivery. Thank you very very much.
Callie (verified owner) –
Some shipping snafu because of 2 different tracking systems but was resolved. Seller was great in helping get the p problem taken care of. A great pair of notes. A++++++ seller