How to Sell a Silver Certificate

by John Csiszar ; Updated July 27, 2017

Silver certificates are the type of bills that used to be in circulation in the United States before the Federal Reserve notes of today were introduced in 1963. A silver certificate looks similar to modern-day U.S. currency, but has a note on it indicating that the bill could be exchanged for silver. The U.S. Treasury stopped redeeming these bills for silver in 1968, at which point they became more of a collector's item. Although silver certificates are typically not worth much more than face value, there are places that you can sell them.

Step 1

Determine which bill you have. Silver certificates were issued in different years and styles, and getting the correct value for your bill depends on all of these details. Look at the bill and find the year, face value and any other distinguishing characteristics, such as if a star follows the serial number. Locating all of the relevant features can help you determine what exactly you own, which can help protect you if a dealer tries to take advantage of you by assuming you know nothing about your certificate.

Step 2

Call local coin and currency dealers. Most coin shops also deal in paper bills, such as silver certificates. Tell them what silver certificate you own, its approximate condition, and ask if they are interested. Many will invite you down to see what you have in person.

Step 3

Get various quotes for your certificate. No matter how reputable the shop, the first quote you receive may not be your best quote. Gather bids from various dealers and compare them to find the best offer you can.

Step 4

List your certificate at online sale sites. You can offer your silver certificate for sale at online auction sites, where bidders who understand the market compete to buy your certificate. You can usually set a floor price beneath which you will not accept a bid.

Step 5

Accept the highest bid. After shopping your silver certificate at every available venue, take the highest price you are offered.

About the Author

After receiving a Bachelor of Arts in English from UCLA, John Csiszar earned a Certified Financial Planner designation and served 18 years as an investment adviser. Csiszar has served as a technical writer for various financial firms and has extensive experience writing for online publications.