The product is a 5 cent second issue fractional currency graded at 55 by PCGS Banknote Grading. Fractional currency refers to currency that is not in the form of whole dollars, but rather in smaller denominations such as cents or fractions of a dollar. This particular piece of currency is a second issue, indicating it was printed or circulated at a later time than the original issue. The certification from PCGS Banknote Grading adds an extra level of authenticity and reliability to the product, making it a desirable item for collectors of US paper money.