I found some cool silver shavings today!

Meltdown

I found this at an antique show this afternoon.

One dollar in Silver - 371- 1/4 grains .77oz.

The Garvin Bantel Corp.

"Paid on demand by United States Treasury in exchange for $1 Silver Certificate"

OPA

I've never seen nor heard of this ever being issued by the Treasury.

DrBuster

Neat. Dind't some come in tubes as well? Thought I recall seeing those.

Meltdown

I'm not convinced it is direct from the treasury either. I thought it was unique enough to purchase... the price was right.
It's possible it was just sort of a novelty offered by the Garvin Bantel Corp. shortly after the silver exchange program ended?

I've got some googling around to do plus I was hoping for some more definitive information here.
It does weigh correctly.

hchcoin

That's cool.

MGLICKER

If the treasury still paid out an ounce of silver for a greenback, they would need 3 trillion ounces.

mkman123

very cool, seen something similar in which they gave back silver granules

jmski52

The Treasury did in fact send out 1 oz. packets of silver with a small note something like the one shown in your pic. They sent these out towards the end of the silver redemption when they were retiring the silver certificates and after they had already run out of silver dollars.

I don't know if the one in the pic is a Treasury-issued one. I don't recall a reference to Garvin Bantel Corp, but it's entirely possible that the Treasury eventually subcontracted additional packets after the first batches ran out.

ricko

Nice bit of history there... thanks for sharing...Cheers, RickO

cohodk

Great find. Did you have to pay a big premium?

OPA

"The ability to redeem Silver Certificates for silver dollars was stopped in March, 1964 by the Secretary of the Treasury. After this date, a Silver Certificate could be redeemed for silver 'granules' (non-coined) or silver "shot"
until 1968." They put .7734ozt of silver shot in little viles. That were marked, IIR, as US Treasury silver

Having read the above and doing some research, I found no evidence of silver certificates being redeemed via silver shavings.

My preliminary guess is: The shavings in the photo appear to be privately issued "fantasy" items from Garvin Bantel, bullion dealer until 1982.

Timbuk3

Nice !!!

Weiss

There have been posts about these in the past. I believe they're pretty collectible.

Meltdown

Thanks everyone for the help!