The item in question is a piece of United States paper currency issued in 1923 that could be redeemed for one silver dollar. This form of currency represented a specific promise from the government to exchange the paper note for its equivalent value in silver coinage.
Its significance lies in its representation of a time when paper money was directly tied to a tangible commodity, silver. These certificates offered convenience over carrying heavy silver coins, and are now collected as historical artifacts offering a glimpse into the financial practices of the early 20th century. The value now often exceeds the face value due to its rarity and historical importance.