These historical documents represent a claim on a specific amount of a precious metal, backed by the U.S. government at the time of their issue. An example would be a note stating it is redeemable for one silver dollar or a specified quantity of the physical metal. The face value is often printed directly on the certificate.
Their importance lies not only in their face value but also in their collectibility. Factors influencing the actual worth include condition, rarity, series year, and any unique features or errors. The historical context, including the era of silver-backed currency, adds another layer of significance, making them desirable to numismatists and those interested in economic history.