Fractional Currency

Fractional bank notes were initiated during the Civil War due to a shortage of coins. Five series of notes were issued between 1862 and 1875. A total of 24 major types were issued, ranging from 3 cents to 50 cents. The first series of notes are called Postage Currency, since the designs were based on the concurrent postage stamps. In 1876, Congress passed an act allowing redemption of fractional notes for silver coins. Most notes are still obtainable, making them a very collectible series.