As a collector and expert on U.S. currency, I have always found the 1957 one dollar silver certificate to be one of the most intriguing and historically significant bills ever issued. While most examples of this note are quite common, there are some rare variations that make collecting the 1957 series a fun and potentially lucrative pursuit.
A Motto is Born: "In God We Trust" Debuts on Paper Money
The year 1957 marked a major milestone in U.S. currency design with the first appearance of the motto "In God We Trust" on paper money. This phrase had been used on some U.S. coins since the Civil War era, but it wasn‘t until the 1950s that it began to be incorporated into bill designs as well.
The push to add "In God We Trust" to U.S. currency gained steam during the Cold War when religious sentiment was on the rise as a counter to "godless communism." Congress passed a law in 1956 declaring "In God We Trust" to be the national motto and mandating its inclusion on all currency. The Bureau of Engraving and Printing then set about redesigning paper money to accommodate this new inscription.
The 1957 $1 silver certificate was the first bill to feature "In God We Trust," which appears above the word "ONE" on the reverse side. Interestingly, the motto was not added to Federal Reserve Notes until the 1963 series. So for a brief 6-year period, the $1 silver certificate was the only paper money declaring the country‘s trust in a higher power.
The Last of a Dying Breed: Farewell Silver Certificates
The 1957 series holds additional importance for being the last $1 silver certificates ever issued. First authorized by the Bland-Allison Act of 1878, silver certificates were a type of representative money backed by silver coin or bullion held by the U.S. Treasury. In other words, they represented a claim on government silver stocks and could be redeemed for hard metal, unlike today‘s fiat currency.
However, silver‘s intrinsic value began to exceed its monetary value in the early 20th century, making the Treasury‘s silver reserves more valuable as a commodity than as backing for paper money. The government responded by ending the minting of silver dollars in 1935 and removing the redeemability of silver certificates in 1968.
Changing laws around silver and concerns over hoarding led the Treasury to stop issuing silver certificates altogether after the 1957 series. They were replaced by $1 Federal Reserve Notes starting with the 1963 series.
So the 1957 $1 bill is notable for being both the first and last silver certificate with "In God We Trust," as well as the final issue of a currency type that had existed for nearly 80 years. This adds to its collectible appeal.
Series Details and Printing Figures
The 1957 $1 silver certificates were printed in three signature combinations across three series:
- Series 1957 – Priest-Anderson (1.16 billion printed)
- Series 1957A – Smith-Dillon (1.20 billion printed)
- Series 1957B – Granahan-Dillon (898 million printed)
Here is a data table summarizing the print totals and signature varieties:
| Series | Signature Combo | Quantity Printed |
|---|---|---|
| 1957 | Priest-Anderson | 1,162,404,000 |
| 1957A | Smith-Dillon | 1,200,396,000 |
| 1957B | Granahan-Dillon | 897,580,000 |
As these figures show, over 3.2 billion 1957 $1 silver certificates were printed in total, making them very common in general. However, certain printing errors, special serial numbers and high grade examples can be quite scarce and valuable.
Collecting Rare and Valuable 1957 $1 Bill Varieties
While most circulated 1957 $1 silver certificates are only worth their face value of $1, there are several rare varieties that can bring substantial premiums from collectors. Here are some of the most noteworthy:
Mismatched Serial Number Errors
One of the most dramatic and valuable error types known on 1957 $1 bills is the mismatched serial number. This occurs when the two serial numbers printed on a note do not match each other due to a printing mistake. Normally the left and right serial numbers are identical on U.S. currency.
A group of 20 consecutive 1957 $1 star notes with mismatched serials brought $13,200 at a Heritage Auctions sale in 2019, setting a record for this error type. The mismatches were most likely caused by a numbering machine malfunction that caused one of the numbering wheels to slip out of sync with the others.
While mismatched serials are very rare, another similar error to look for is misaligned serial numbers where the digits are improperly spaced or printed far out of their normal position. These more minor errors can still bring healthy premiums over face value.
Fancy Serial Numbers
Another category of 1957 $1 bills that can have significant collector value are fancy serial numbers. These are serial numbers that have an unusual or aesthetically appealing digit sequence, such as:
- Solids (11111111, 22222222, etc.)
- Radars (12344321, 80000008, etc.)
- Repeaters (20202020, 78787878, etc.)
- Low numbers (00000001 – 00000100)
- Ladders (12345678, 01234567, etc.)
Solid serial numbered 1957 $1 bills have performed particularly well at auction recently. Here are some notable sales:
- 88888888 (Series 1957B) – $8,700 in January 2022
- 77777777 (Series 1957B) graded MS-67 – $2,040 in April 2019
- 44444444 (Series 1957B) graded MS-67 – $940 in January 2017
Low serial numbers are also highly coveted, especially notes numbered under 100. One of the most valuable is an extremely low 1957 $1 star note with serial number *00000001A that sold for $8,050 in September 2005.
Star Notes
Speaking of star notes, these replacement bills are generally more desirable to collectors than regular issue notes. Star notes have a star * in place of a letter at the end of their serial number and were used to replace defective notes during the printing process.
Significantly fewer star notes were printed than regular notes for the 1957 series. While they are still fairly common in circulated condition, uncirculated star notes can bring big money. In April 2023, a pack of 100 consecutive 1957 $1 star notes in pristine condition sold for $2,880. The pack retained its original BEP strap.
Preserving and Protecting Your 1957 $1 Silver Certificates
If you do happen to find a valuable 1957 $1 bill variety, you will want to ensure it retains its condition and value. Here are some tips for storing and protecting your collectible currency:
- Always handle notes with clean, dry hands and avoid touching the surface as much as possible. Oils and dirt from skin can transfer to the paper and cause damage over time. Consider using cotton gloves for extra protection.
- Store notes in a cool, dry place away from direct sunlight, heat and humidity. Extreme temperatures and moisture are enemies of paper currency. An interior closet or safe deposit box is ideal.
- Use archival quality currency holders, such as Mylar sleeves or hard plastic cases. Avoid PVC holders as they can leach chemicals that damage notes. Look for products specifically designed for storing collectible currency.
- If you have a particularly valuable note, consider having it professionally graded by a third-party service like PCGS Currency or PMG. Not only will this provide a tamper-evident holder, but the grade assigned can help substantiate the note‘s value when selling or insuring it.
By following these practices, you can help maintain your notes in the same crisp uncirculated condition as the day they were printed.
Key Takeaways and Conclusions
- The 1957 $1 silver certificate is a key collectible for being both the first U.S. bill to feature "In God We Trust" and the last $1 silver certificate issued. Over 3.2 billion were printed across three signature varieties.
- While most 1957 $1 bills are very common and worth only face value, there are some rare and valuable error notes and fancy serial number varieties to look for.
- Mismatched serial number errors are the most valuable, with a run of 20 consecutive 1957 $1 star notes selling for $13,200 in 2019. Other desirable fancy serials include solids, radars, low numbers and ladders.
- Star notes from the 1957 series are also more valuable than regular notes in uncirculated condition. A pack of 100 consecutive 1957 $1 stars sold for $2,880 in 2023.
- To maintain the condition and value of collectible 1957 $1 bills, always handle them with care, store them properly in archival holders, and consider professional grading for the most valuable varieties.
Whether you are an experienced collector or just stumbling upon a 1957 silver certificate for the first time, I hope this guide has helped you appreciate the historical significance and potential value of these distinctive notes. While finding a truly rare and valuable 1957 $1 bill may be akin to searching for a needle in a haystack, the joy of the hunt and thrill of discovery are what keep currency collectors like me endlessly fascinated by these old pieces of paper.
References and Further Reading
- Friedberg, Arthur L. & Ira S. Friedberg. (2022). Paper Money of the United States. 22nd edition. Coin & Currency Institute.
- Bowers, Q. David. (2006). The Official Red Book: A Guide Book of United States Paper Money. Whitman Publishing debuted LL
- U.S. Dept. of the Treasury. (1982). "History of ‘In God We Trust‘."
- Freeman, Mika. "The Story of Silver Certificates." McAlvany ICA
