U.S. Fractional Currency, 10¢ Note, Fifth Issue

Includes archival-grade plastic banknote sleeve for protection.

• Size: 3.3 x 2.1 inches
• Date: 1874
• Portrait: William M. Meredith, Secretary of Treasury (1849)
  

About Fractional Currency Notes:

Fractional currency, also known as shinplasters, were a form of US currency worth less than a dollar in value that were introduced following the start of the Civil War. The term “shinplaster” was coined earlier, during the Revolutionary War. Soldiers would put pieces of paper, typically low-denomination currency notes, inside their boots to cushion their shins against chafing or rash, and due to their low denominations, the Civil War era fractional currency earned the shinplaster nickname.

Fractional currency notes were introduced to address coin shortages that were at least partially caused by hoarding, since coins were valued for their bullion content during times of instability. The shortage made everyday transactions more difficult, and people began using encased postage stamps to make change, which was referred to as postage currency. The US Treasury began issuing fractional currency notes that resembled the postage currency, with notes consisting of 5, 10, 25 and 50-cent notes. The designs of fractional currency became more complex over time to prevent counterfeiting, including various watermarks and anti-counterfeiting measures. Fractional currency remained in use until 1876, when Congress authorized minting fractional silver coins to redeem the remaining fractional currency.

All purchases include a Certificate of Authenticity. You will receive the exact item in this photo.