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Fractional
Currency

Obverse of Fr. 1261 10 Cents. 4th Issue July 14, 1869—Feb. 16, 1875

Common, scarce and rare Fractional currency (a form of obsolete U.S. paper money) at Mintmark.com.

"United States Fractional Currency notes were issued by the U.S. Government during and after the U.S. Civil War due to the hoarding and shortage of coins in gold, silver and copper in denominations of 3, 5, 10, 15, 25 and 50 cents. These notes were in use until 1876 and were redeemable by the U.S. Postal Office at face value in postage stamps. A controversy arose concerning the third issue of the 5 Cent Notes, when Spencer M. Clark, the first superintendent of the National Currency Bureau (now the U.S. Bureau of Engraving and Printing had his portrait printed on the fractional note, a practice barred by law (the currency can portray notable U.S. citizens only after at least two years have followed the subject's death). Fractional currency notes were issued from August 21, 1862 through February 15, 1876 . . . Fractional currency was succeeded by postal notes that were issued on Monday, September 3, 1883 . . ." — Fractional currency at Wikipedia



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