Columbus Day Bargains Rare Coin Auction 45 Part 1
By Key Date Coins
Contact auction house
Oct 10, 2023
148 Route 73 Suite 3-184 Voorhees, NJ 08043 USA, United States
Terms of sale
View demo
The auction has ended
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LOT 46:
1862 US Fractional Currency 25¢ First Issue Fr-1281 Thomas Jefferson W/ Monigram Grades xf+
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Sold for: $40
Start price:
$
5
Estimated price :
$54 - $108
Buyer's Premium: 18%
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1862 US Fractional Currency 25¢ First Issue Fr-1281 Thomas Jefferson W/ Monigram Grades xf+
1862 US Fractional Currency 25¢ First Issue Fr-1281 Thomas Jefferson W/ Monigram Grades xf+. Fractional or postage currency has a rich history. At the beginning of the Civil War people starting hoarding coins for their precious metal content. Coins became difficult to find because of the hoarding. People started to try to use stamps instead of coins as a means of commerce. The government decided to help ease the hoarding issue by issuing “paper coins” also known as postage currency or fractional currency. Fractional currency was first issued on August 21, 1862 and they were last issued on February 15, 1876. Three cents, five cents, ten cents, twenty-five cents, and fifty cents notes were all issued. Fractional currency is physically smaller than other United States money. It also does not have a serial number.
