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<p>[QUOTE=&quot;tommyc03, post: 7832564, member: 17665&quot;]Actually they didn&#039;t lie. They were redeemable. </p><p>In 1963, the House of Representatives passed PL88-36, repealing the Silver Purchase Act and instructing on the retirement of $1 silver certificates. The act was predicated by a prospective shortage of silver <a href="https://www.investopedia.com/terms/b/bullion.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.investopedia.com/terms/b/bullion.asp" rel="nofollow">bullion</a>.</p><p><br /></p><p><br /></p><p>Certificate holders could exchange the print for silver dollar coins for approximately 10 months. In March 1964, Secretary of the Treasury C. Douglas Dillon stopped the issuance of coins, and for the next four years, certificates were <a href="https://www.investopedia.com/terms/r/redemption.asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.investopedia.com/terms/r/redemption.asp" rel="nofollow">redeemable</a> for silver granules.</p><p><br /></p><p><br /></p><p>The redemption period for silver certificates ended in June 1968.[/QUOTE]</p><p><br /></p>

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