This United States 10-cent First Issue Postage Currency note is a fascinating survivor from the Civil War and represents one of the most unusual intersections of American postal history and U.S. paper money.

1862 — When Postage Became Money

During the Civil War, Americans began hoarding gold and silver coins. By 1862, even small-denomination coins had largely disappeared from everyday circulation, creating a serious shortage of change.

Postage stamps began circulating informally as substitutes for coins, but ordinary stamps were poorly suited to repeated handling. The federal government responded by authorizing Postage Currency under the Act of July 17, 1862.

The result was America's first federally issued small-denomination paper currency—the beginning of what collectors now broadly know as U.S. Fractional Currency.

The 10¢ Postage Currency Note

The green face of this note prominently carries the words “POSTAGE CURRENCY” and displays a central portrait of George Washington, flanked by large 10 denomination tablets.

Particularly significant is the inscription:

“RECEIVABLE FOR POSTAGE STAMPS AT ANY POST OFFICE.”

This language reflects the close connection between the new currency and the postal system from which the idea developed.

The black reverse carries a large central 10 surrounded by an ornate engraved design. Its inscriptions explain that the note could be exchanged for United States notes in specified amounts and was receivable for certain payments to the United States.

Most importantly for dating and historical context, the reverse explicitly states:

“ACT APPROVED JULY 17, 1862.”

A Civil War-Era Piece of American Monetary History

First Issue Postage Currency is particularly interesting because it documents an extraordinary moment when the federal government used the familiar concept of postage stamps to help solve a national currency shortage.

These notes helped Americans conduct everyday transactions when conventional small change was difficult to obtain. The experiment subsequently developed into the broader Fractional Currency system, ultimately encompassing five issues before small-denomination paper currency was discontinued as coins returned to circulation.

This 10¢ note consequently has crossover appeal to collectors of U.S. Fractional Currency, Postage Currency, Civil War memorabilia, U.S. paper money, postal history and classic U.S. philately.

Please examine the front and back scans carefully for condition, margins, centering, paper quality and other details important to determining condition.