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US Fractional Currency 50c Fifth Issue fr-1381 Samuel Dexter Grades vf+

Currency:USD Category:Coins & Paper Money Start Price:20.00 USD Estimated At:55.00 - 110.00 USD
US Fractional Currency 50c Fifth Issue fr-1381 Samuel Dexter Grades vf+
US Fractional Currency 50c Fifth Issue fr-1381 Samuel Dexter Grades vf+. Samuel Dexter was an early American statesman who served both in Congress and in the Presidential Cabinets of John Adams and Thomas Jefferson. Fractional or postage currency has a rich history. At the beginning of the Civil War people starting hoarding coins for their precious metal content. Coins became difficult to find because of the hoarding. People started to try to use stamps instead of coins as a means of commerce. The government decided to help ease the hoarding issue by issuing “paper coins” also known as postage currency or fractional currency. Fractional currency was first issued on August 21, 1862 and they were last issued on February 15, 1876. Three cents, five cents, ten cents, twenty-five cents, and fifty cents notes were all issued. Fractional currency is physically smaller than other United States money. It also does not have a serial number.