1863 186 US Fractional Currency 50¢ Fourth Issue March 3, 1863 Fr-1379 Samuel Dexter Grades Choice

1863 186 US Fractional Currency 50¢ Fourth Issue March 3, 1863 Fr-1379 Samuel Dexter Grades Choice
1863 US Fractional Currency 50¢ Fourth Issue March 3, 1863 Fr-1379 Samuel Dexter Grades Choice AU. Samuel Dexter was an early American statesman who served both in Congress and in the Presidential Cabinets of John Adams and Thomas Jefferson. A native of Boston, Massachusetts, Dexter was an 1781 graduate of Harvard College 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.