Silver Certificate
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.”
