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Fractional
Currency
Fractional Currency notes, of which there were 24 distinctly
different varieties, were issued from August 21, 1862 through
February 15, 1876. These notes were authorized during the early
years of the Civil War to alleviate the critical trade
conditions caused by a serious shortage of coins. Accordingly,
on the recommendation of Treasurer of the United States F.E.
Spinner, Congress passed the Act of July 17, 1862, which
authorized an issue of 5, 10, 25, and 50-cent notes. These
became known as Postage Stamp Currency because they bore
facsimiles of the then current 5- and 10-cent postage stamps.
Later issues of these notes were called Fractional Currency and
were authorized by another Act of Congress on March 3, 1863.
Issue Denominations Periods of
Circulation
| First |
5, 10, 25 and 50 cents |
August 21, 1862-May 27,
1863 |
| Second |
5, 10, 25 and 50 cents |
October 10,
1863-February 23, 1867 |
| Third |
3, 5, 10, 25, and 50
cents |
December, 5,
1864-August 16, 1869 |
| Fourth |
10, 15, 25, and 50
cents |
July 14, 1869-February
16, 1875 |
| Fifth |
10, 25 and 50 cents |
February 26,
1874-February 15, 1876 |
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Photo |
Description |
Grade
/ Notes |
Price |
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The Spinner Fifty Cent
Fractional Currency is the only U.S. Currency to ever
portray someone
while the person WAS STILL ALIVE!
After it's appearance, this bill lead to an immediate Act of Law
to prevent US Currency from ever depicting someone during their
lifetime.
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