This 10 Cents Fifth Issue Fractional Note was
issued under the 1874 series and is a piece of American history. Fractional
currency was first introduced in the early 1860s during the Civil War to
address the shortage of small-denomination coins, which became especially
prevalent as the war drained the U.S. Treasury’s silver and copper reserves.
The government issued fractional currency to provide a substitute for the small
change that was desperately needed for everyday transactions. By the time the
1874 Fifth Issue was produced, fractional currency had become an established
part of the U.S. financial system, though this issue marked the last series of
fractional currency ever issued by the U.S. Treasury. They were designed
with an intricate design featuring the denomination in Roman numerical "X
CENTS" and a portrait of William M. Meredith, Secretary of the
Treasury and features a red Treasury Seal and a short, thick key. The
reverse side of the note was distinctive for its green ink and has a decorative
banner with The words, “Fractional Ten Cents Currency” roman numerical "X”
on the left side and “10" on the right side. The Fifth Issue 10-cents
fractional note signatures are those of John Allison (JA) Register of the
Treasury, and Francis Elias Spinner (FES) Treasurer of the United States. This
note was printed in 1874. The note is classified as a Banknote and has a Grade
of 63 EPQ Choice Uncirculated. The banknote has been certified by PMG and is a
great find for anyone looking to add a unique piece of world currency to their
collection.