1 Dollar Silver Certificate, Blue Seal and 1

The 1934 Silver Certificate series replaced the 1928 series primarily because the Treasury needed to update the signature combination — Julian and Morgenthau, reflecting Henry Morgenthau Jr.'s appointment as Secretary of the Treasury in January 1934. The redesign also reduced note dimensions from the pre-1929 "horse blanket" format, though that change had already occurred with the 1928 series; the 1934 notes simply continued in the smaller format.

Silver Certificates of this period were redeemable directly for silver dollar coins until 1934, when the Silver Purchase Act shifted redemption toward silver bullion rather than coin — a meaningful distinction that reflects the broader nationalization of silver occurring under Roosevelt's monetary policies that year.