Fractional currency notes (fractionals) and the US Civil War

Highly Collectable Fractional Notes

Historically, politically, socially, and financially, Fractional Currency Notes carry huge significance. 

Printed in five separate issues, Fractional Currency notes were produced in denominations less than one dollar, hence the name “fractionals.” They included denominations as little as three cents and as much as 50 cents. Importantly, Fractional Currency Notes were only produced for a very short time between August 21, 1862 and February 15, 1876, making them extremely sought after by collectors and numismatists alike. 

During the US Civil war, coinage (small change) was very scarce due to understandable but economically difficult widespread hoarding among the populace. Not only were metal coins hoarded, they were melted down for their precious metal content. Hence, coins as a method of commerce were difficult if not impossible to find. The cash-strapped government, therefore, chose to issue “paper coins.” 

These paper coins were and still are also known as fractionals and postage currency due to their postage stamp like size and appearance. 

Unlike other legal US currency notes, fractionals are smaller and do not have serial numbers. Even today, the idea of “paper” coins (paper money worth less than a dollar) can be strange. Hence, this additional peculiarity has contributed significantly to the undervalued nature of these fractional notes. 

An additional reason these notes are so highly sought-after yet undervalued is that fractional currency is one of the least known (understood?) of all the US currencies. Twenty-three distinct designs were printed for just 14 years. While some fractionals are quite common and have less appeal to collectors, others are extremely rare, highly sought after, and in today’s competitive currency market, significantly undervalued. 

Specific and distinctive details on each note also contribute to rarity and value. If you have a fractional note that is a proof, specimen, experimental, or shield or if you own a set of fractionals in sheets or packs, you hold additional rarity and value in your hands. 

For more information and stunning examples of Fractional Currency Notes, visit treasuredstocks.com or call me, Jeff Smith at 870-670-4255

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Treasured stocks.com was founded in 1987 to provide currency enthusiasts and investors with a wide choice of currency items. The site offers a range of national and international coins and currency for the value conscious currency collector and investor. Please contact us at 870-670-4255 or email us at jeff@treasuredstocks.com

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