A bit about the note:

Fractional notes were issued in the U.S. primarily during the Civil War (1862-1876) because people hoarded gold and silver coins, causing a severe shortage of small change needed for daily transactions, forcing the government to create paper substitutes for coins, initially even using postage stamps, to keep commerce flowing. 

Development and Phases of the Note/s:

• Postage Currency (1862): The first issue was officially called "Postage Currency" because the notes featured images of current 5 and 10-cent stamps.
• Fractional Currency (1863–1876): Following the first issue, the government authorized four subsequent series with designs more similar to standard banknotes.
• Denominations: Notes were issued in values of 3, 5, 10, 15, 25, and 50 cents.
• Redemption: In 1876, Congress authorized the minting of silver coins to replace and redeem the outstanding fractional notes.

Check out my other Fractional Notes on Ebay, 5 c / 10 c / 25c / 50 c.

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