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13 Oct 2022

Fractional Currency

Young Numismatists Exchange | Sea turtle coin collector

In the 2022 YN Auction I won a piece of 25 cent fractional currency. I thought it would be fun to research it and write a blog about it.

Fractional currency started being issued at the beginning of the Civil War because people started hoarding the gold and silver, so there was not change in stores and so fractional currency began. There are different denominations of fractional currency the denominations are 3,5,10,15,25,and 50 cents. Fractional currency was issued in five periods.

The first period started in August of 1862 and ended in May of 1863. The denominations for the first period are 5, 10, 25, and 50, cents. Perforations were started but soon discontinued.

On the 5 cent note there is a portrait of Thomas Jefferson. The bill is 65 by 43.5 mm. The bill is worth anywhere from $22 to$2,500. If you enjoy collecting coins with Thomas Jefferson maybe you should try to get this bill.

On the 10 cent note there is a portrait of George Washington. The bill is 65 by 43.5 mm. The 10 cent bill is worth $22 to $4,690. If you like collecting coins with Washington then maybe you would like this bill for your collection.

On the 25 cent note is five stamps. The bill is 65.5 by 45 mm. The bill is worth anywhere from $22 to $4,000. this bill is cool because if you collect coins, currency,and stamps then this bill has a part of all of those collection. The bill face value of 25 cents like a quarter, it is a bill like a dollar bill,and it has five stamps with Thomas Jefferson on it, all on the same bill!

On the 50 cent note is very like the 25 cent note because it has five stamps on it with George Washington on them. The bill is 65.5 by 45 mm. The bills value is from $27 to $3,060.

The four bills in the first issue have some similarities like how he 5 cent and 25 cent bill both have Thomas Jefferson on them, and how the 10 and 50 cent bill both have George Washington on them. They have some differences too though.

The second period of fractional currency started in October of 1863 and ended in February of 1867. The second period denominations are 5,10,25,and 50 cents. The second issue has only one design all of the denominations. The design is a portrait of George Washington with a bronze oval surrounding it. The denominations all have different values. The value for the 5 cent bill is worth $22 to $1,660. The 10 cent bill is worth $22 to $4,310. The 25 cent bill is worth $25 to $3,100. The 50 cent bill is worth $ 27 to $ 1,880. The second issue value starts at about 22 dollars.

I will write another blog about the last three issues of fractional currency.


Sources:

https://www.greysheet.com/coin-prices/group/fractional_currency

https://en.wikipedia.org/wiki/Fractional_currency

https://oldmoneyprices.com/fractional-currency-values/

Comments

Interesting pieces of currency.

Long Beard

Level 5

Love fractional notes. My taste is a bit older, British and Continental. A word of advice for collecting these, graded only as counterfeits are extremely tough to spot. They even fool seasoned dealers.

Golfer

Level 5

Nice blog. Enjoyed the lesson on fractional currency. Thank you.

coinsbygary

Level 5

I enjoyed your blog and admired you for taking the time to learn about the fractional currency in your collection. Congratulations.

It's Mokie

Level 6

Good research, really enjoyed your blog, it is definitely an area of non-expertise for me.

Haney

Level 4

Nice note and a fun series to collect and relatively inexpensive compared to other notes of the same time period.

TCHTrove

Level 4

Awesome note, and great job on the blog! Thanks!!

Kepi

Level 6

Nice blog! Definitely a piece of history in your hands! Good for you. ; )

user_84095

Level 4

Great read! I am not really into paper currency, but fractional currency is an interesting subject. Thanks!

Rebelfire76

Level 4

Great info on fractional currency, why it was created, when, and variations thereof. Just one of many changes/disruptions brought about by the Civil War.

AC coin$

Level 6

Fractional currency is a great subject. Thanks for writing about it. A space in time of our American history. It became extremelly attractive among southern states collectors and it still is an example of currency that should be a cornerstone for its cultural value. It has been said that some arks or vaults found at Civil War forts were saved and preserved by regional authorities. I should inquire about war paper money on my next visit to Fort Zachary Taylor... great blog!!!

Mike

Level 7

Good blog. Good research!. One thing the high prices depend on the condition of the note. These were used allot and many don't hit that high at all They judge paper quality and folds nicks anything that shows the least damage. I enjoyed it very much. Very well done!

Longstrider

Level 6

Well done. You did exactly what should be done. You Have a piece of coin or currency and researched it. Great blog. Thanks.

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