1862 Ten Cents Fractional Note -- RARE CIVIL WAR ERA CURRENCY! - $34 (Bolingbrook)

1862 Ten Cents Fractional Note -- RARE CIVIL WAR ERA CURRENCY! 1 thumbnail1862 Ten Cents Fractional Note -- RARE CIVIL WAR ERA CURRENCY! 2 thumbnail
For sale is a very cool and rare 10 Cent Fractional Note. The universal catalog number for this note is # 1240 and this note was issued between 1862 and 1863, which is the very first run of Fractional Notes, and is the oldest one of the entire series. Fraction Currency was coupon-sized currency issued by the U.S. government during the Civil War and during Reconstruction. The need for them was because the South's economy was so decimated from the War that they began hoarding the coins for their silver value. Because the economy relied so heavily on coins being circulated, people hoarding them was causing a major problem, so the government created different denominations of Fractional Currency to circulate instead of coins because people would have no need to hoard them because they were made of paper, not precious metal. Once the government felt there was no longer a need for the Fractional Currency they would destroy them, so the ones that survived to this day are very rare.

As you can see from the pics the note is in well-circulated, but still good shape. Fractional Notes are so rare they are valuable regardless of grade. Even with the heavy circulation the green print on the obverse and black print on the reverse are still vibrant. The Note has no tears or major damage.

This is an amazing vintage Note great for any currency collection. Please email me with questions or interest. Thanks!

post id: 7758393092



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