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Second Issue Fractional Currency

Submitted by Benny Bolin on

Widespread counterfeiting of the first issue of fractional currency (Postage Currency) led Spencer Morton Clark to state that in order to protect the public, a new issue was needed.  The second issue (sometimes referred to as the first issue of Fractional Currency) was released on October 10, 1863 and ended on February 23, 1867.  The total of all four denominations was 161,341,194 notes with a face value of $23,164,483.65. It was estimated that 27,567,597 notes were still extant in 1884. 

Update: Large Size Replacement Nationals

Submitted by Shawn Hewitt on

About a year ago, I concluded my blog series on Large Size Replacement Nationals.  Since then, I've given a presentation and printed an 8-page handout for Memphis 2013.  The presentation (it can be downloaded here: https://www.spmc.org/member-presentations) was well received and was the best attended seminar at the convention.  An article is forthcoming in Bank Note Reporter.

Introduction

Submitted by Jim Hodgson on

My first post is an introduction of myself.  I would consider myself a hardcore collector of small size US currency.  My first introduction to currency collecting was in the late 1960s when my grandmother was actively searching for $1 FRN Barr notes. At that point I started looking at all notes.  I bought my first currency book shortly thereafter.

In the 1970s I was pulling circulated $1 FRN star notes out of circulation.  While none were worth more than face, I still regarded them as rare. 

Happy Birthday Postage & Fractional Currency

Submitted by Benny Bolin on

In the mid 1800’s, the majority of transactions between the general public and merchants were in sums of less than one dollar, making small change necessary. Prices of things were much less than what they are today. A quarter represented a good deal of money at the time. Three cents could buy you a newspaper or a ride. Five cents would get you a glass of beer and lunch. The shots at Fort Sumter that launched the Civil War didn't ring out until April 12, 1861, but even before the Civil War began, people worried about the stability of the currency and began hoarding gold and then silver.

Memphis – Lots of Action Amongst Paper Money Enthusiasts

Submitted by Pierre Fricke on

I always enter June with great anticipation of the Memphis International Paper Money Show. This year was no exception, though for the first time, my company’s annual trade show was scheduled in the same week!  Luckily that show was mainly centered earlier in the week, with Memphis centered closer to the weekend – so I attended both. This heavy schedule precluded me from building an exhibit for the first time in many years, but I hope to return to the exhibit arena in 2014.

The Odd and Curious

Submitted by Benny Bolin on

Interesting and Odd Facts about Fractional Currency Persons

The men pictured on and had other ties to fractional were a very interesting lot.  But did you know these facts?

 John J. Cisco

  • Took over for his father as head of his bank and was Hetty Green’s personal banker

Spencer Morton Clark

The "finest" Confederate note?

Submitted by Pierre Fricke on

Added a picture of the "finest" (well, maybe) Confederate note! A T-9 PF-12
PCGS Superb Gem New 68 PPQ! See below... There is only one other 68 PPQ CSA note
I know of, the T-66 that sold at the Knight 2012 Memphis auction for $4600. It
had super red color, but not these margins. PMG's highest is 67 EPQ (I've seen
several of those, not quite up to this).

Pierre Fricke