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Fractional Currency 5Cent 2nd Series Evaluation Help

 
 
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 Posted 06/08/2018  2:35 pm Show Profile   Bookmark this topic Add Pennywise142 to your friends list Get a Link to this Message
This was found in a box of old photographs and other ephemera with a hand written memo that read "Possibly rare." While a nice example of a 5 Cent Fractional Currency Note (I think?) I don't see anything to earn it the "rare" distinction. My knowledge of currency is quite limited so any thoughts, comments, etc about the note from those here would be greatly appreciated.




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 Posted 06/08/2018  7:49 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply

My knowledge of fractional currency is very, very limited. I do remember reading about surcharge errors on the second issues in the SPMC journal last fall.

I think there is a slight hiccup with regards to my membership so until I get that resolved I won't be able to view that issue as it is new enough not to be on the NNP (Newman Numismatic Portal).

Maybe someone more knowledgeable will chime in or if another SPMC member has access to the online journal and will see what the surcharge errors are covered in the article. It is the September/October 2017 issue.

-MV
I'm slowly building my numismatic library--106 works and counting

With assistance, trying to compile a listing of numismatic reference books & materials available to collectors http://goccf.com/t/174749
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 Posted 06/09/2018  05:50 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
My knowledge of Fractionals is also limited.
All Second issue Fractional notes have Washington's portrait on the front. Some have an additional stamping on the back 18-63 , usually in the corners. I've found a photo of an Fr.1318 with the additional stamping, (not my note) to help explain. The OP's note has the 63 , and a partial 18.


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 Posted 06/09/2018  09:09 am  Show Profile   Bookmark this reply Add Pennywise142 to your friends list Get a Link to this Reply
Thanks for the help guys. It is very much appreciated.

Steve: Thanks for the picture. It very much explains things.

I didn't know about the surcharge marks. Do we know what their significance is and were they put on at the time of the original printing or are they added later?

MV: You mentioned an error for the surcharge marks. Any thoughts about the oval around Washington and the number 5 on the back being off center?
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 Posted 06/09/2018  8:40 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply

If I remember correctly, the surcharges are known to be shifted in various directions.

In my opinion, the error, if there is one, is on the back. The partial surcharge in the lower right to my eye looks like 1-8.

While not, an exact match, this one is similar https://currency.ha.com/itm/fractio...tion-071515#

As soon as I get access to the SPMC journal, I'll re-read the article and see what it says.

-MV
I'm slowly building my numismatic library--106 works and counting

With assistance, trying to compile a listing of numismatic reference books & materials available to collectors http://goccf.com/t/174749
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 Posted 06/10/2018  09:38 am  Show Profile   Bookmark this reply Add Pennywise142 to your friends list Get a Link to this Reply
MV Thanks for the opinion and help. I agree. From what I'm seeing from other sources the oval is an anti-counterfeiting measure and is in a position comparable to other notes.
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 Posted 06/11/2018  01:00 am  Show Profile   Bookmark this reply Add Jimjumper to your friends list Get a Link to this Reply
I looked it up in Kravitz reference "A Collectors Guide to Postage and Fractional Currency" it appears to be a FR-1233 since I only see the 18 and the 63. The reference book shows them in separate corners but there isn't anything here that would make this note particularly rare. It carries a value of $23 in Good, and up to $325 in Gem. They printed almost 56 million of these notes and there was almost 14 million still unredeemed in 1884. Nice souvenir though!
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 Posted 06/11/2018  08:48 am  Show Profile   Bookmark this reply Add Pennywise142 to your friends list Get a Link to this Reply

Quote:
Nice souvenir though!


Thanks JimJumper. Great information. Very happy to have this note as a souvenir.
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 Posted 06/11/2018  6:13 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply

I have access to the journal now.

I believe I erred in my 6/9 post partially when I stated the error was on the reverse. The bronze oval is shifted is shifted to the right.

Good to see a Fractional note posted and gave me a chance to do some research.

-MV
I'm slowly building my numismatic library--106 works and counting

With assistance, trying to compile a listing of numismatic reference books & materials available to collectors http://goccf.com/t/174749
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 Posted 06/12/2018  09:05 am  Show Profile   Bookmark this reply Add Pennywise142 to your friends list Get a Link to this Reply
MV. Glad you found it of interest.

Do we know the process of how these notes were printed? Was the note printed first then the oval and/or the surcharge marks added later, for example? That could explain the misaligned ovals I've seen examples of on the web. Just my thoughts and curiosity, not speaking from authority.
Edited by Pennywise142
06/12/2018 09:06 am
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 Posted 06/12/2018  6:44 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
Yes, the notes were printed in sheets of 20 notes. Then glue was applied to select areas and a bronzing powder added. This was done before the notes ever entered circulation---- that said, there are some known missing the bronze oval.

If fractional currency is an area anyone reading this is interested in, consider taking a look at the Fractional Currency Collectors Board Newsletter on the Newman Numismatic Portal all the issues from 1983 to 2014 are posted for free https://nnp.wustl.edu/library/publi...etail/523621

-MV
I'm slowly building my numismatic library--106 works and counting

With assistance, trying to compile a listing of numismatic reference books & materials available to collectors http://goccf.com/t/174749
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 Posted 06/13/2018  08:37 am  Show Profile   Bookmark this reply Add Pennywise142 to your friends list Get a Link to this Reply
Thanks MV. Very interesting information.
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