1934 $5 Silver Certificate

How to recognize a 1934 $5 silver certificate

Lincoln sits in the center of the face, as on every small-size $5. What marks this one as a silver certificate is the color: the Treasury seal and both serial numbers are blue. A large blue 5 appears on the left side of the face. Across the top runs SILVER CERTIFICATE. The text says five dollars in silver is on deposit in the Treasury, payable to the bearer on demand. The back shows the Lincoln Memorial.

If the seal is green, you have a Federal Reserve note. If it is red, it is a United States Note. Both types were also dated 1934 or close to it, so color is the first thing to check before you go any further.

Series 1934 $5 silver certificates: signatures and notes

Why $5 silver certificates start in 1934

There was no 1928 $5 silver certificate. The $5 joined the small-size silver certificate family after the Silver Purchase Act of 1934, which had the Treasury buying silver and issuing certificates against it. The new $5 was dated 1934 and promised five dollars in silver rather than silver coins.

Finding the series letter and signatures

The series date is printed on the face, with the letter, if any, right after 1934. The Treasurer's signature is at the lower left and the Secretary's at the lower right. If the letter is faint, the pair settles it: Julian and Morgenthau for 1934 and 1934A, Julian and Vinson for 1934B, Julian and Snyder for 1934C, Clark and Snyder for 1934D.

Georgia Neese Clark, who signed 1934D, was the first woman to serve as Treasurer of the United States. Her signature appears only on the last letter of this design before the 1953 redesign.

The yellow seal 1934A

Some 1934A fives were printed with a bright yellow seal instead of blue. These were made for American forces in the North Africa landings of November 1942 and later used in Sicily. The idea was simple: if a large stock of these notes were captured, the government could declare that one color of money worthless without touching ordinary currency. Serial numbers on these notes stay blue.

A yellow seal 1934A is a collector premium note even when worn. If you have one, see the North Africa page for how to check it and what it means.

Mules and plate numbers

Small check numbers on the face and back identify which printing plate made each side. In 1938 these numbers were made larger so they would stay readable on worn notes. Notes printed with one old style plate and one new style plate are called mules. Collectors of $5 silver certificates hunt the macro and micro combinations across the 1934 letters. You need a magnifier and a good reference to identify one. A confirmed mule can carry a premium over a regular note of the same series.

What a 1934 $5 silver certificate is worth

Most circulated notes from any of the five letters land in the small premium band. Heavy folds, stains, tears and pinholes keep a note near face value. Crisp uncirculated examples rise into the collector premium band. Star notes, with the star printed before the serial number, are scarcer than regular notes in every letter and earn more again, especially in high grade. The yellow seal North Africa 1934A, confirmed mules and fancy serial numbers can all lift a note further.

What to do with one

Check the seal color, read the letter and signatures and look for a star. Put the note in an archival sleeve and keep it flat. A worn blue seal 1934 five is a fine keepsake; if you would rather have the money, a dealer will usually pay a little over face value, which beats spending it. If yours is crisp, a star note, a yellow seal or a possible mule, get an opinion from a paper money dealer or a grading service first.

Frequently asked questions