My US Bank Note Type Set

Sadly price was more than I expected but I was able to pick up 2 new fractionals. Pictures coming soon.

I checked out My1896 One dollar note Series C, signatures Bruce and Roberts.... Live and Learn.........

" National Bank Note Co N Y. " Sweet Note !!! Congrats

Very nice!

Today's note is also perforated. For those that don't know why "Postage Currency" was created.

During the Civil War gold and silver coins were hoarded given their intrinsic bullion value relative to paper currency at the time. In late 1861, to help finance the Civil War, the U.S. government borrowed gold coin from New York City banks in exchange for Seven-thirties treasury notes and the New York banks sold them to the public for gold to repay the loan. The United States Department of the Treasury suspended specie payments and banks in New York City stopped redeeming paper money for gold and silver. In the absence of gold and silver coin, the premium for specie began to devalue paper currency. After the New York banks suspended specie payments (quickly followed by Boston and Philadelphia) the premium on gold rose from 1-3% over paper in early January 1862 to 9% over paper in June 1862, by which time one paper dollar was worth 91.69 cents in gold.This fueled currency speculation (e.g., redeeming banknotes for silver coin which was then sold at a premium as bullion), and created significant disruption across businesses and trade. Alternate methods of providing small change included the reintroduction of Spanish quarter dollars in Philadelphia,cutting dollar bills in quarters or halves, refusing to provide change (without charging a premium for providing silver coins), or the issuance of locally issued paper under a $1issued by businesses or local municipalities.

Treasurer of the United States Francis E. Spinner has been credited with finding the solution to the shortage of coinage: he created postage currency (which led into the use of fractional currency).Spinner proposed using postage stamps, affixed to Treasury paper. Based on this initiative, Congress supported a temporary solution involving fractional currency and on 17 July 1862 President Lincoln signed the Postage Currency Bill into law. The intent, however, was not that stamps should be a circulating currency.

The design of the first issue (postage currency) was directly based on Spinner's original handmade examples. While not considered a legal tender, postage currency could be exchanged for United States Notes in $5 lots.

The note FR 1279 (ABC monogram), ABC is the American Bank note Company, the printer of the note. This one has a slight ink spot (?), but is CU otherwise.

My wife asked me what I wanted for Christmas and this is today's note which is FR1253 which is a hand signed 10 cent 3rd issue. Over 5000 notes of the 3rd issue were hand signed before the signature was added to the plate. This is also a red back and is one of the more scarce 3rd issues. I was happy to get it.

pretty nice fractional note!

I asked her and she said "So I'll buy walk2water a note and you won't get any"

My reply was "Walk2water has to many notes so he doesn't need any more"

Sorry

But I digress. While new old notes are good when they come in cool packages they are better.