THERE ARE ONLY THREE GRADED HIGHER BUT NONE HAVE A STAR. THIS IS A POP 1. I HAVE NOT SEEN ANY LIKE THIS ANYWHERE IN THIS GRADE IF YOU HAVE LET ME KNOW. When a currency note is deemed imperfect in its manufacture, it is replaced with a Star Note which bears a star before or after the serial number. Star Notes are scarcer than regular issues, as only a limited number are produced and fewer still are placed in circulation.Silver Certificates, and in particular Star Note issues, are among the most sought-after U. They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, which had effectively placed the United States on a gold standard.
The certificates were initially redeemable in the same face value of silver dollar coins, and later in raw silver bullion. Since 1968 they have been redeemable only in Federal Reserve Notes and are thus obsolete, but are still valid legal tender. By this time, the Federal Reserve had taken over much of the currency market, and the prices of gold and silver had risen greatly. Fives and tens of this time were mainly Federal Reserve Notes, which were backed by and redeemable in gold. All this would change, however, with the beginning of the Great Depression in October 1929.The United States was plunged into an economic disaster of profound proportions. Many citizens blamed the fluctuating price of gold, which directly affected the U. Dollar because it was pegged to the value of gold. President-elect Franklin Roosevelt felt the same way.
He persuaded Congress to recall all gold coins, gold bullion, and gold certificates, which circulated alongside Silver Certificates. This prompted Congress to quietly place the U. On May 12, 1933, the Agricultural Adjustment Act was passed, which included a clause allowing for the pumping of silver into the market to replace the gold. In 1934, a law was passed in Congress that changed the obligation on Silver Certificates so as to denote the current location of the silver.
In 1963 President John F. Kennedy issued Executive Order 11110, authorizing the Department of Treasury to issue additional Silver Certificates for any silver held by the U. Government in excess of that not already backing issued certificates. The item "STAR NOTE SUPERB GEM 1935 F $1 ONE DOLLAR BILL SILVER CERTIFICATE 67 EPQ FR 1615" is in sale since Thursday, January 2, 2020. This item is in the category "Coins & Paper Money\Paper Money\ US\Small Size Notes\Silver Certificates".
The seller is "freeremoteinstructions" and is located in Boynton Beach, Florida. This item can be shipped worldwide.