Info on this money

[journeyoftheanimals]

Yes your right, 1982

[Winger Ed.]

Originally Posted by journeyoftheanimals

what would happen if I walked into a bank and said "OK, where's my silver?" hehe

The banks don't handle and process things like that any more. In the old days, they'd give you a (old style) solid Silver dollar coin. However; nowdays--they would refer you to the nearest Federal Reserve Bank.

They'll give you a old solid Silver Dollar coin, or its equal weight in Silver bullion according to how much Silver was worth when they went off the standard.
Its a real hassle, but they'll do it.
Being 100% backed by Silver is why its called a 'Silver Certificate'.

They took our money off the Gold & Silver standard-- and the Silver Certificate bills out of circulation, to prevent a raid on the mint/Fed. Reserve for bullion. Plus, a (Fed. Reserve note)dollar nowdays is only actually backed by a fraction of a cent's worth of Gold or Silver bullion at Ft. Knox, or other depositorys. The rest of it's value is derived from "your faith and confidence in the US Govt".

It used to be dollar for dollar.
A old Dollar or quarter dollar coin had that much value of precious metal in it. A paper (Silver Certificate)dollar was backed by bullion just the same. The only reason they made paper money was so it was easier to carry in large amounts compared to Gold or Silver coins.

Bear in mind:
If you cash it in, don't think you'll get something like a 1893 Silver Dollar in perfect condition, you won't. But they'll give you something like a 1964 Kennedy one, or some well circulated solid quarters or half dollars from the late 50's early 60's.