Fractional currency was introduced during the Civil War and were issued from Augtust 21, 1862 to 15 February 1876. These notes were issued in denominations of 3 cent, 5 cent, 10 cent, 15 cent, 25 cent and 50 cents.
The U.S. government hoarded coins for their bullion value and stopped exchanging paper money for silver and gold coins. U.S. Treasurer Francis E. Spinner helped create a solution to the coin shortage with the creation of postage currency, which later led into Fractional Currency. The introduction of these notes played a key role in economy during the Civil War.
RARE ISSUE featuring a bust of ABRAHAM LINCOLN on the right end of the note.
PMG CHOICE UNCIRCULATED 63 EPQ