1862 10c Bust of Washington on 10c Stamp

Own Seldom-Seen 10¢ on 10¢ Washington Fractional Currency
Featuring Artistic Details Stamp Collectors Love

Get scarce fractional currency – a direct tie to America’s tragic Civil War. It features the elaborate engraving and intricate details of classic US stamps and comes complete with ...  more

Own Seldom-Seen 10¢ on 10¢ Washington Fractional Currency
Featuring Artistic Details Stamp Collectors Love

Get scarce fractional currency – a direct tie to America’s tragic Civil War. It features the elaborate engraving and intricate details of classic US stamps and comes complete with a great story!

At the beginning of the Civil War, people began hoarding coins for their precious metal content – the metal was often worth more than the face value of the coins. As coins were hoarded, metal currency became scarce. Merchants couldn’t give change, making the purchase of items complicated or impossible.  People started to use stamps instead of coins as a means of commerce.

The government decided to help ease the hoarding by issuing “paper coins” also known as postage currency or fractional currency.  Approved by Congress on July 17, 1862, the first postage currency was issued on August 21, 1862. Initially, US Treasurer Francis Spinner affixed stamps, singly and in multiples, to Treasury Paper. Although this was not considered actual money, it made stamps negotiable as currency. Eventually, the Treasury began printing the stamp designs on the paper, rather than using the stamps themselves.

Three-cent, five-cent, ten-cent, twenty-five-cent, and fifty-cent notes were all issued. Fractional currency is physically smaller than other United States money. It also does not have a serial number. Postage currency remained in use until 1876, when Congress authorized the minting of silver coins.

This is your chance to own PC6, the 1862 10¢ Bust of Washington on a 10¢ stamp.  The front was engraved and printed by the National Bank Note Company, while the back was engraved and printed by the American Bank Note Company.  Send for yours now.