Collection PL

United States 1874 – 25 Cents Fourth Issue Fractional Currency (Fr.1301, Allison | Spinner, Watermarked Paper, 40mm Red Seal, PMG 62 EPQ Uncirculated)

The Fourth Issue of fractional currency, introduced between 1869 and 1875, marked the culmination of America’s Civil War–era experiment with small-denomination paper money. This twenty-five cent note (Friedberg 1301) bears the engraved signatures of Treasury officials John Allison and Francis Spinner and was printed by the National Bank Note Company of New York under government contract. Fractional notes such as this filled the coin shortage caused by hoarding of gold and silver during and after the war. ... Read more →

United States 1838 — Olney, Alabama 25 Cents, 50 Cents, 1 Dollar Uncut Sheet Remainder

This uncut sheet represents a remainder issue of fractional and small denomination notes associated with Olney, Alabama, dated 1838. Comprising three vertically arranged designs of twenty five cents, fifty cents, and one dollar, the sheet was never placed into circulation and survives as a production remnant rather than an issued monetary instrument. With only remainders and a small number of falsely completed examples known, the original issuing authority of the Olney notes remains uncertain, and may not have existed as a formal banking institution. ... Read more →

United States 1875 — Fourth Issue Fractional Currency, 25 Cents, Watermarked Paper, 40mm Seal (Friedberg 1301, Allison-Spinner)

The Fourth Issue 25 Cents Fractional Currency note, cataloged as Friedberg 1301, represents the mature phase of the Civil War–era fractional paper money system. Fractional currency was introduced during the coin shortages of the early 1860s when hoarding of silver created a critical absence of small change in circulation. By the Fourth Issue, the United States Treasury had refined both design and anti-counterfeiting measures to a high degree of technical sophistication. ... Read more →