Description
The obligation of a note states how much of a specific commodity the government of a country will “pay to the bearer.” On most large size Silver Certificates, the obligation reads: “This certifies that there have/has been deposited in the Treasury of the United States of America (number) silver dollar(s) payable to the bearer on demand.” On small sized Silver Certificates beginning with Series 1934, in order to denote current location of deposit, it was changed to read: “This certifies that there is on deposit in the Treasury of the United States of America (number) dollar(s) in silver payable to the bearer on demand.”