April 26, 2024
Fractional Currency 25 cent Fifth Issue SHORT, THICK KEY PMG 64 EPQ CU F# 1309
Pricing & History
-
Sold for
Start Free Trial or Sign In to see what it's worth.
- Sold Date
- Source eBay
Fractional Currency 25 cent 25 c Fifth IssueSHORT, THICK KEY ALLISON SPINNERPMG 64 EPQ CHOICE UNCF# 1309For your possible interest and information, here is a brief fractional currency descriptionFractional Currency, also known as fractionals, is a term used by currency collectors to identify a note with a face value of less than (a fraction of) one U. S. Dollar. During the Civil War, coins were very scarce, a problem made worse by metal shortages and public hoarding. Coins were so scarce that merchants couldn't make change for their customers. Consequently, starting in 1862, the US Government issued paper fractionals in 3, 5, 10, 15, 25 and 50 cent denominations. Fractional Currency notes have dates ranging from 1862 (the Civil War) to 1876. Notes could be exchanged for face value in postage stamps. An interesting controversy occurred when the first Superintendent of the National Currency Bureau (now known as the Bureau of Engraving & Printing - BEP) Spencer M. Clark printed his picture on the 5 cent note. It is now only legal to portray persons of distinction on currency following their death, plus at least two years. Imagine that such a controversy occurred over a five cent fractional note!Because of their significance in US history and policy, Fractional Currency notes have become increasingly collectible and valuable.© treasuredstocks
read more
Items in the Price Guide are obtained exclusively from licensors and partners solely for our members’ research needs.
If this item contains incorrect or inappropriate information please contact us here to flag it for review.
If you are the originator/copyright holder of this photo/item and would prefer it be excluded from our community, contact us here for removal.
If you are the originator/copyright holder of this photo/item and would prefer it be excluded from our community, contact us here for removal.
