These 1957 "Blue Seal" U.S. Silver Certificates, circulated mainly in one dollar denominations throughout the United States. The amount of Silver Certificates in circulation corrulated directly with the amount of silver bullion in U.S. Treasury vaults. As certificates were redeemed for bullion or silver dollars, the notes were shredded, because the notes had lost their backing and could not be recirculated unless there was more silver backing them. In 1960, with silver at $1.29 an ounce, which made silver dollars worth more than one dollar, people would receive their silver dollars and melt them down for the bullion, thereby reducing the amount of silver in circulation. By 1964, Secretary of the Treasury, C. Douglas Dillon halted redemption of Silver Certificates for Silver Dollars. U.S. Silver Certificate redemption for silver, ceased forever on June 24, 1968.
These 1957 U.S. "Blue Seal" $1 Silver Certificates are being offered in rarely seen, crisp Uncirculated condition!