Faced with severe hoarding of coinage during the Civil War, the Federal government was forced to issue small change paper money, known as "Fractional Currency" to alleviate the situation. Several different series of notes were issued between 1862 and 1876, all in denominations less than one dollar.
From the first issue of Postage Currency, so named because of the postage stamp designs, to the odd 3 Cent note (issued because the cost to mail a letter was 3c) and the unusual 15 Cent note, Fractional Currency is a fascinating and affordable way to collect early U.S. paper money. This field has enjoyed great popularity in recent years and continues to amaze generations of collectors.
Wide Margins Specimen. Back. Comment: Tears.
Surcharge "18-63" and "S".
Milton Experimental. M#2E10R.4. Back Engraving. Bronze Front. T-1-18-63. Stamped "Specimen". 2 Semi Circular Holes. Scarce and high grade for the variety.
Fiber paper with surcharges 'T-1-18-63'. A bright and fresh appearance. Very scarce and desirable.
A beautiful high quality Gem with vibrant color and excellent centering.
Straight Edges. With (ABC) ABN Co. Monogram. Well centered and strong ink.
Wide Margins Specimen. Back. Comments: Closed Pinholes, Discoloration.
Postage Currency. Straight Edges. With Monogram. A high end Gem example that is seldom seen this nice.
Washington in Bronze Oval. A scarce variety with "18-63" and "S" surcharges. Excellent centering and strong inking provide wonderful eye appeal.
Washington in Bronze Oval. A scarce variety with "S-18-63" surcharges. Well centered with strong ink and bright bronzing.
Wide Margins Specimen. Back. Comments: Corner Damage, Foreign Substance.
Wide Margins Specimen. Front Comment: Piece Missing.
Strong black and brown ink rests upon fresh paper. Very attractive.
1st Issue. No Frameline. Wide Margin. Back Proof. All regular specimen backs exhibit a thin black frame line around the central design at a distance that would approximate the size of a regular issued note. This example lacks that feature. Known in all denominations except 25 cents, only very few examples of any denomination are known to exist. Most likely, these were produced for Treasury Specimen books. This example is well centered for the grade and displays vivid ink resting upon original paper. Great eye appeal!
1st Issue. No Frameline. Wide Margin. Back Proof. Milton 1P5R.1d. All regular specimen backs exhibit a rectangular box around the central design at a distance that would approximate the size of a regular issued note. This example lacks that feature. Known in all denominations except 25 cent, only very few examples of any denomination are known to exist. Most likely, these were produced for Treasury Specimen books. This example is very well centered and displays strong ink resting upon fresh original paper. Very desirable and sure to please!
The color is deep and eye appeal is excellent.
F-1314spwmf and F-1314spwmb pair. Specimen. Wide Margins. Both examples have the same assigned grades with good coloring and nice centering. The obverse piece displays a full lower guide line. The reverse example has the comment: Previously Mounted.
Vivid color and fresh white paper. Quite attractive.
Wide Margins Specimen. Front. Comments: Tears, Annotation.