1934 $1 Silver Certificate // Gutter Fold Error // Julian-Morgenthau // PMG Certified VF30

Silver certificates were a form of representative paper money issued between 1878 and 1964 in the United States. They were produced in response to silver agitation by citizens who were unhappy by the Fourth Coinage Act, which effectively placed the United States on a gold standard.

The certificates were initially redeemable for their face value in silver dollar coins and later in raw silver bullion (June 24th, 1967 to June 24th, 1968). The original silver certificates from 1878 to 1923 were printed in a large-size format, measuring 7.4 x 3.1 inches. They were issued in denominations of $10 to $1,000 in 1878 and 1880, after which the $1, $2, and $5 denominations were authorized in 1886.

In 1928, all U.S. banknotes, including silver certificates, were reduced in size as a cost-cutting measure to their present dimensions. Since 1968, silver certificates have been redeemable only in Federal Reserve Notes and are thus obsolete but remain legal tender at their face value and are technically an accepted form of currency.

Despite exquisite quality control at the U.S. Bureau of Engraving and Printing, numerous errors are known to occur during the printing and production of paper money. These error notes are typically discovered and destroyed by inspectors. In an exceedingly small number of instances, however, error notes escape recognition and enter circulation.

Approximately two dozen distinct types of paper money errors exist, some of which can be quite bizarre and very rare. Offered here is a scarce 1934 $1 Silver Certificate with a “gutter fold” error. These errors occur when the printing plate strikes a wrinkled sheet of currency paper, resulting in a lack of ink under the wrinkled area. When the paper sheet is cut into individual notes, the wrinkle can be unfolded, revealing the blank “gutter.”
You will receive the unique note shown in the photos, accompanied by a certificate of authenticity.