US CURRENCY 1862 5 CENT FRACTIONAL Old Paper Money VG

1862 5 CENT FRACTIONAL NOTE

FIRST ISSUE

This is a distinctively different note from most US Currency.  It is one of the HARDEST TO FIND--Extra SMALL SIZE FRACTIONAL NOTES, the 1862 $.05 US NOTE, in VERY GOOD condition in my opinion, but you can judge for yourself to make the final decision in these photos which you can enlarge.  It has the small portrait of Thomas Jefferson on a postage stamp.   The Congress issued authority to print this style 5 Cent only one time, for 1862 during the American Civil War when the coin shortage was acute.  This was the first time a 5 Cent paper note was ever issued in America.    It was printed in 1862 during the US Civil War under President ABRAHAM LINCOLN.  It has black ink on the reverse.

In the years of the US Civil War starting in 1862 there was a critical shortage of coins.  It became such a problem that for 14 years the government issued small size notes called FRACTIONAL CURRENCY.  This was from the first issue of fractional paper money ever issued by the USA.  It does have the printer's monogram on the reverse.

The note is intact despite its age, with 4 full corners, it has good color contrast with 1 tiny pin hole, but no writing, ink, or missing pieces.  There are signs of lots of use and its well worn.  This is still a nice looking example of old paper money especially for a small size fractional note which are often very worn out when they are found.  These little notes were cut by hand using scissors and it really shows with this note.    This is as old as US paper money gets.

The art work is simple and the note is less than one quarter the size of the modern notes.    It has straight edges.

Book value is $25.00 in Very Good condition, $125 in CU, so place a bid and enjoy a bargain.   Some retailers and Shop at Home TV charge much more that book value for this note when they can find it.  This note does not come up for auction very often and it often sells for well over book value even on Ebay!   So if you need it to add something special to your currency collection this may be just the opportunity, don't let it slip by.

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This is an example of a piece of American History when paper money was backed by real silver in general, but Fractionals were based on a faith in the creditworthiness of the United States.   To give it value, it was redeemable for postage stamps!  This first issue of fractional currency was called "Postage Currency" and that is printed right on the note.  View My Other Items For Sale and save on shipping charges!  Happy Bidding.  Be sure to Add me to your Favorite Sellers list! 

Learn more:  Over 35,000 other Ebayers have had a look at my Ebay guide, called: "US Currency and Paper Money Buyer's Guide"   From Ebays site map, choose Reviews and Guides or click on my "Top 1,000 Reviewers" logo.  Thanks, Jim