You’re digging through an old shoebox or maybe a relative’s desk drawer and you find it. A crisp, or maybe slightly crinkled, one-dollar bill. But it looks... off. The date says 1935. There's a big blue seal where the green one usually sits. You start wondering if you just hit the jackpot. Most people immediately think they’ve found a small fortune, but honestly, the reality of how much is a 1935 dollar bill worth is usually a bit more grounded, though there are some wild exceptions that could pay for your next vacation.
It’s a Silver Certificate. Back then, you could literally walk into a bank, hand them this piece of paper, and they’d give you a silver dollar or a handful of silver bullion in return. We haven't done that since the sixties. Because these notes are so different from what we carry now, they feel rare. They aren't. Not exactly. The Treasury printed billions of them.
The Basic Value of a Common 1935 Note
Let's get the boring part out of the way first. If you have a standard 1935 Silver Certificate that looks like it’s been through a washing machine or spent three decades in a wallet, it’s probably worth about $1.25 to $1.50. Yeah, not exactly "retire early" money. Collectors call these "circulated" notes. Since they are still legal tender, they will always be worth at least a dollar, but the premium for a beat-up bill is tiny.
Even if it's in decent shape—maybe some light folding but no tears—you’re looking at $2 to $5.
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Why so low?
Because the 1935 series was produced for a long time. They kept the "1935" date on the plates even as they updated the design slightly, adding letters like A, B, C, D, E, F, G, and H after the year. If you look closely at your bill, you’ll likely see one of those letters. Collectors view the plain "1935" (no letter) as the most common.
When 1935 Dollars Get Expensive
Now, if you have a bill that looks like it was printed five minutes ago—perfectly sharp corners, no creases, ink so fresh it looks wet—that’s a different story. These are "Uncirculated" or "Crisp Uncirculated" (CU) notes. A collector might pay $20 to $50 for a perfect specimen.
But the real money hides in the weird stuff.
Errors are where the hobby gets spicy. I'm talking about ink smears, cutting errors where the border is totally lopsided, or "mismatched serial numbers" where the number on the left doesn't match the one on the right. These can fetch hundreds. Most people miss these because they're looking at the date, not the details.
The "Hawaii" and "North Africa" Outliers
History is weird. During World War II, the U.S. government was terrified. They worried that if Japan invaded Hawaii or if Germany took over North Africa, they’d seize massive amounts of U.S. currency and use it to fund their war machines.
The solution? Overprints.
They issued 1935A Silver Certificates with a big, bold "HAWAII" stamped on the back and the sides of the front. They also had brown seals instead of blue. If the islands were captured, the U.S. could just declare all "HAWAII" notes worthless.
If you find a 1935A Hawaii note, you're looking at a value starting around $30 to $50 for a rough one, and potentially over $500 for a perfect one.
Then there are the "North Africa" notes. These were for troops in the North African and European theaters. They have a bright yellow seal. These are even more sought after. A yellow seal 1935A can easily command $100 or more depending on how much "life" it has left in the paper.
That Weird "In God We Trust" Fact
Here is a fun bit of trivia that actually affects value: the 1935 series was the first and only one to see the transition of the motto "In God We Trust" onto the back of the dollar.
Prior to 1957, the motto wasn't on our paper money. However, because the 1935 series ran for so long, the 1935G and 1935H varieties actually come in two versions: with and without the motto. If you have a 1935G without the motto, it’s standard. If you find a 1935G with the motto, it’s actually a bit rarer because it was part of a shorter production run during that transition.
Does the Serial Number Matter?
Serial numbers are a rabbit hole. Seriously.
If your 1935 dollar has a serial number that starts with a little star (*) instead of a letter, you’ve found a "Star Note." These were replacement bills printed when the original sheet was damaged. They are much rarer than standard bills. Even a worn-out 1935 star note can be worth $10 to $20.
Then there’s "fancy" serial numbers:
- Low Numbers: Like 00000500 or lower.
- Radars: Numbers that read the same forward and backward (e.g., 12344321).
- Solid: All the same digits (e.g., 88888888).
A solid serial number on a 1935 note can sell for thousands of dollars at an auction house like Heritage Auctions or Stack’s Bowers. Most people spend these at the grocery store without looking. Don't be that person.
The Experimental Red and S Notes
In 1944, the Bureau of Engraving and Printing got experimental. They wanted to test different types of paper to see which lasted longer in the "wild."
They printed a small batch of 1935A notes with a red "R" or a red "S" stamped on the bottom right of the front, near the seal.
- R stood for Regular paper.
- S stood for Special (experimental) paper.
These are the Holy Grail for 1935 series collectors. Only about a million of each were made, and most were pulled from circulation and destroyed. If you have a genuine 1935A "R" or "S" note, you aren't looking at pocket change. You’re looking at $200 for a beat-up one and potentially $2,000+ for a high-grade version.
Why Condition Is Everything (The PCGS Factor)
In the world of coin and paper money collecting, "condition is king" isn't just a saying. It's the law.
Professional graders like PCGS (Professional Coin Grading Service) or PMG (Paper Money Guaranty) use a 70-point scale. A bill that looks "nice" to you might be a 20 to a professional. A bill that looks "perfect" might be a 65. The price difference between a 63 and a 67 can be hundreds of dollars.
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If you think you have one of the rare ones—like an R or S experimental note or a perfect North Africa note—it’s worth paying the $30 to $50 to have it professionally graded and "slabbed" in plastic. This authenticates the bill and locks in the value.
How to Sell Without Getting Ripped Off
So you’ve checked the seal, looked for a star, and searched for a red "S." You think you have something. What now?
Avoid pawn shops. Just don't do it. They have high overhead and usually offer 30% to 50% of the actual value because they need to flip it fast.
Instead, look for local coin shops (LCS). Most dealers are honest and will give you a "buy price" that’s closer to 60-70% of retail. If you want top dollar, eBay is your best bet, but you’ll have to deal with shipping and fees. Search "sold listings" on eBay to see what people are actually paying, not what sellers are asking.
Another tip: don't clean it. Never, ever iron a bill to make it flat or use chemicals to get a stain out. Collectors hate "processed" notes. A dirty, original bill is almost always worth more than a "cleaned" one.
Summary of What to Look For
To wrap your head around how much is a 1935 dollar bill worth, follow this mental checklist.
Start with the seal color. If it's blue, it's standard. If it's brown or yellow, you've found something special. Next, check for that star in the serial number. After that, look for any small red letters (R or S) tucked away in the corner. Finally, look at the physical state of the paper. If it looks like it just rolled off the press, even a "common" bill has value.
Most of these bills are just cool pieces of history you can hold in your hand. They represent a time when our money was backed by actual precious metal. Even if yours is only worth $2, it’s a tangible link to the Great Depression era and World War II.
Actionable Next Steps
- Check the back: Look for the "HAWAII" overprint or the presence/absence of "In God We Trust."
- Identify the Series Letter: Look at the small letter next to the "1935" date.
- Inspect the Serial: Look for a star symbol or repeating/sequential numbers.
- Protect the Note: Put it in a PVC-free plastic sleeve immediately to prevent skin oils from degrading the paper further.
- Research Sold Prices: Go to eBay or Heritage Auctions and search for your specific variety (e.g., "1935A Silver Certificate Yellow Seal") and filter by "Sold" to see real-market value.
The hunt is half the fun. Even if you don't have a $2,000 rarity, you have a story. And sometimes, that's worth more than the face value of the paper.