$89.99
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Item Description:
Includes an archival grade document sleeve.
- Origin: United States of America
- Date: 1874
- Denomination: 25 cents
- Size: 3.8 x 2.3 inches
- Face Side: United States – Series of 1874 – Twenty Five 25 Cents – Fractional Currency – Robt J Walker – Secy Treasy 1845 – Engraved & Printed At The Bureau, Engraving & Printing – Register – Treasurer - Portrait of Robert J. Walker (former Secretary of the Treasury)
- Back Side: This Note is Exchangeable for United States Notes By Assistant Treasurers And Designated Depositories Of The United States in the sums not less than Three Dollars. Receivable In Payment Of All Dues To The United States Less Than Five Dollars Except Customs. – Columbian Bank Note Co. Washington, D.C. – Patented July 24 1866 – Act of March 3d 1863
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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. Fractional currency remained in use until 1876, when Congress authorized minting fractional silver coins to redeem the remaining fractional currency.
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