The 1957 Silver Certificate is a type of paper currency that was once minted in the United States, equal and redeemable for an equal amount of silver bullion. This $1 certificate was part of what was known as the small-note series. Beginning with the 1928 series, all United States paper currency was reduced in size to cut costs and to speed up the pace of transactions.
Before 1934, silver certificates were redeemable for actual silver dollars. However, Congress passed legislation in 1934 that allowed the government to exchange a certificate for silver bullion and not specifically silver dollars.
In the 1940's and 1950's, silver certificates began to disappear from circulation. The number of notes in circulation depended upon the amount of silver bullion that was contained in the vaults of the U.S. Treasury. Less silver was being produced. So, when a note was redeemed for silver bullion or dollars, it was shredded. It could not be put back into circulation unless the amount of silver being produced was increased.
The 1957 Silver Certificate is one of the most common certificate dates. There are many rare silver certificates that are valued at more than $200. This is not the case with the 1957 version. According to the most recent Black Book figures, the retail value for this particular date is perhaps $5.00 or $6.00 in crisp, uncirculated condition. In circulated condition, it is worth just a little over face value.
Always keep in mind that the figures quoted in various coin books are for retail value. A dealer would tend to offer less, anywhere from twenty to forty percent lower than the retail price.