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10 Cent FRACTIONAL==1st ISSUE==Fr. 1242===AU
 
10 Cent FRACTIONAL==1st ISSUE==Fr. 1242===AU
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$325.00
$295.00
 
 
Description:

10-CENT FRACTIONAL

 

1st ISSUE

 

Fr. 1242

 

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.

  

note grades:

 About Uncirculated

 
         
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