1923 $1 Silver Certificate Value
The 1923 $1 silver certificate is the final large-size dollar bill, printed just before the 1928 changeover to the small format. Collectors call large-size notes horse blankets for their size, and this is the one most people encounter first because it is the most affordable entry point into the category.
It carries a familiar Washington portrait, a blue seal, and a large ONE across the reverse. Circulated examples are within reach of any budget; uncirculated notes with clean margins are the ones worth hunting.
Quick facts
- Type
- Silver Certificate, large size
- Series
- 1923
- Nickname
- Horse blanket
- Seal
- Blue
- Significance
- Last large-size $1 note
1923 $1 Horse Blanket value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| Heavily worn or damaged | $30 to $50 | |
| Well worn | $55 to $90 | |
| Lightly circulated | $95 to $175 | |
| About uncirculated | $200 to $320 | |
| Crisp uncirculated | $320 to $700 | |
| Star note | $400 to $3,000+ |
Scan any banknote with Money Scanner
Point your camera at a bill and get the series, type, rarity, and an estimated value range in seconds. No typing, no guessing at the series letter.
- Reads the series, seal type, and signatures from a photo
- Flags star notes and collectible serial number patterns
- Estimates a value range by condition
- Works on US and world banknotes
The last of the large size dollars
In 1928 the Treasury reduced US currency to the dimensions still used today, cutting paper costs and allowing more notes per sheet. Everything printed before that change is large size, and the 1923 $1 is the final year for the denomination.
That end-of-series status plus its relative affordability makes it a standard first purchase for anyone building a US type set.
Three signature varieties
The 1923 $1 exists with three Treasury signature combinations: Speelman and White, Woods and White, and Woods and Tate. The first is by far the most common. Woods and Tate is the scarce one and carries a strong premium in every grade.
The signatures appear below the portrait on the face. Read them carefully before pricing, because the difference between the common and scarce pairings is substantial.
Frequently asked questions
How much is a 1923 $1 silver certificate worth?
Around $55 to $90 well worn and $320 or more uncirculated. The scarce Woods and Tate signature variety brings considerably more in every grade.
Why is it so much bigger than a modern dollar?
US currency was reduced to its current size in 1928. Every note printed before then is about 30 percent larger in area.
Is a 1923 dollar bill rare?
The common signature variety is not rare, which is what makes it a good entry point. High grade examples and the Woods and Tate variety are genuinely scarce.