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My US Bank Note Type Set

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 Posted 09/21/2020  7:21 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Nice lot!
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 Posted 09/22/2020  09:36 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Today we learn a little about fractional currency.

In the fall of 1861, the Civil War was raging in the United States. At first, it looked as if the Union troops would win easily. However, the Confederate troops were making a comeback in the outcome of the war was uncertain. People began to panic not knowing which side would be the victor. They were afraid that the warring governments would start issuing paper currency to pay the war debt which would soon become worthless. This concern turned out to be true.

Since circulating coinage contained an amount of metal almost equal to the face value of the coin, people very quickly began to hoard gold and silver coins. The economy slowed, and virtually every coin, including copper pennies, eventually disappeared from circulation. This coin shortage made it very hard for merchants and people in business to conduct transactions because they could not make change for the sale of their goods.

Enterprising merchants began to issue private tokens made from brass and copper that were approximately the same size as the United States one-cent coin. They were known as "Civil War Tokens" and usually carried an advertisement for the issuing merchant. Other merchants began to use postage stamps to make change.

General Francis Elias Spinner, Treasurer of the United States, pasted a few postage stamps onto a piece of paper and came up with the idea of printing paper currency in values less than one dollar to be used instead of coins. President Lincoln signed the Postage Currency Act on July 17, 1862. These "paper coins" were issued in 5-, 10-, 25-, and 50-cent denominations. The first series of issues are known as "Postage Currency." Subsequent issues were known as "Fractional Currency."

And today's note is the 3rd issue 50 cent with a portrait of Francis Elias Spinner (the father of Fractional Currency). Born: January 21, 1802, Died: December 31, 1890. Spinner was the longest living person depicted on Fractional currency and with Fessenden and Clark, he was the 3rd living person with a portrait on currency. He began his career as a cashier in Herkimer, New York. He became president of the Mohawk Valley Bank. Served as a Major-General in the state militia and was elected to Congress for 3 terms. He was appointed Treasurer of the US by Abe Lincoln and served from March 16, 1861 to June 30, 1875.

This note is F1331, there are 19 different varieties of Spinner notes.



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 Posted 09/29/2020  11:32 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Since the next group notes are more costly, I've slowed down on quantity. I currently have 2 that I purchased, one is out for delivery for today (woot!! woot!!) the other has been stuck in Nashua, NH (weird as I don't live in Nashua or NH), for over a week. I purchased that one from Denly's and he was super nice, said to wait a few more days and if I don't get it, he will take care of me. Its been an ongoing issue with the USPS. I opened a case, hopefully that one will come soon. But either way more pictures coming soon :)
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 Posted 09/29/2020  3:37 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Well I didn't get 1 package today, I actually got 2. The package that was in Nashau, NH just appeared in my mailbox, no at Post Office, no out for delivery. Just appeared....

Ok, we'll that one is for another day. This came today, it's a $10 Hawaii note and while the vast majority of collectors on here now what a Hawaii note is, I'm tailoring this journey to both collectors and non collectors.

After the attack on Pearl Harbor, military officials concered that in the event Hawaii was invaded, Japanese forces would have access to a considerable amount of US currency that could be seized from financial institutions or private individuals. Faced with this scenario, on January 10, 1942, Military Governor Delos Carleton Emmons issued an order to recall all regular US currency in the islands, save for set caps on how much money both individuals and businesses ($500; save extra currency for payroll purposes) could possess at any time.

On June 25, 1942, new overprinted notes were first issued. Series 1935A $1 silver certificate, Series 1934 $5 and $20 Federal Reserve Notes, and Series 1934A $5, $10, and $20 Federal Reserve Notes from the Federal Reserve Bank of San Francisco were issued with brown treasury seals and serial numbers. Overprints of the word HAWAII were made; two small overprints to the sides of the obverse of the bill between the border and both the treasury seal and Federal Reserve Bank of San Francisco seal, and large outlined hawaii lettering dominating the reverse. The hope was that should there have been a Japanese invasion, the US government could immediately demonetize any Hawaii-stamped notes. Making them worthless, due to their easy identification.

With this issue, military officials made the use of non-overprinted notes redundant and ordered all Hawaii residents to turn in unstamped notes for Hawaii-stamped notes by July 15. Starting from August 15, 1942, no other paper currency could be used except under special permission.

Faced with a $200 million stockpile of US currency, military officials opted to destroy all the recalled currency instead of overcoming the logistical problems of shipping the currency back to the mainland. At first, a local crematorium was pressed into service to burn the notes. To ensure complete destruction, a fine mesh was placed on the top of the smokestacks to catch and recirculate unburnt scraps of currency escaping the fire.

Progress on the destruction was slow, and pressed with time, the bigger furnaces of the Aiea sugar mill were requisitioned to help burn the currency.

The notes and issuance continued in use until October 21, 1944; by April 1946, notes were being recalled, but are still legal tender at face value.

Over 10 million $10 notes were issued and many were collected as a curiosity of the war (same with steel cents).

This note was graded VF, but could easily grade XF as the paper quality is excellent and the margins are very good.



Edited by hfjacinto
09/29/2020 3:46 pm
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 Posted 09/29/2020  3:41 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
The package that was in Nashau, NH just appeared in my mailbox, no at Post Office, no out for delivery. Just appeared....



Quote:
This came today, it's a $10 Hawaii note...
Very nice note and a great write-up!
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 Posted 09/29/2020  4:21 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Clap, clap, clap!
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 Posted 09/29/2020  5:35 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Thank you

On Thursday I will order my most expensive note (and that will be my most expensive note for the foreseeable future), but for the next 8-9 purchases all will be 1 note.

My only temptation is that I has reached out to Vern Potter and he has found a few of the missing fractionals I need......
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 Posted 09/29/2020  6:41 pm  Show Profile   Bookmark this reply Add southsav to your friends list Get a Link to this Reply


That's a very nice $10 Hawaii. Looks clean and margins even
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 Posted 09/30/2020  09:14 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Like I posted above, I purchased a note from Denly's of Boston, the package was mailed USPS and went to Nashua, NH and tracking just stopped for 8 days. Yesterday with no notice, no updates, no out for delivery... nothing.... a package from Denly's appeared in my mailbox. I've learned that the USPS never loses a package (or never lost one of mine) but they can sure deliver them late.

Now onto good news, I love packages with lots of stamps.




So what was in the package? Let me start off by stating that I don't like all the fractional notes series, but sometimes you have to take the ugly with the pretty.

The note I purchased was a 5 cent 2nd issue. These were the first notes that were printed by the treasury department, in all there where 4 notes printed with George Washington on the front. The denominations printed were 5, 10, 25 and 50 cents. All the fronts are the same with George surrounded by a bronze oval, while it looks like the oval is over the printing, the oval is actually on the paper and then the printing went over. The oval was produced with a high pressure press. One issue encountered was that the oval tended to oxidize, going from the bronze color to an ugly green. Rusting the paper. The treasury in order to reduce counterfeiting actually printed the 3rd series on 11 different papers, with most papers breaking down after little time in circulation.

On the front is George Washington, and while books were written about George, here are 4 little know facts about our first president.

1) Washington had only a grade-school education.The first president's formal schooling ended when he was 11 years old, after his father died.
2) Washington's first love was the wife of one of his best friends."The world has no business to know the object of my love, declared in this manner to you when I want to conceal it," Washington wrote weeks before his wedding. The letter wasn't sent to his fiancée Martha Custis—but to Sally Fairfax, who was married to one of his best friends and patrons, George Fairfax
3)About those teeth: No, they weren't wooden.Washington ruined his teeth using them to crack walnut shells. The dentures he had were made out of lots of things, but not wood. Instead, they came largely from human teeth, pulled from the mouths of the poor and his enslaved workers. They also came from ivory, cow teeth and lead.
4)He had no biological children, but he was a father figure to many.It's never been definitively established why the Washingtons couldn't conceive—theories range from George's early bouts with smallpox or tuberculosis to Martha's case of the measles. But when Washington married Martha Custis, a wealthy young widow, he became the legal guardian of her two younger children: four-year-old John Parke Custis (known as Jacky) and two-year-old Martha Parke Custis (known as Patsy).

This note is F1232 which has no surcharges on the back.


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 Posted 09/30/2020  09:54 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Now onto good news, I love packages with lots of stamps.


Nice add and interesting commentary!
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 Posted 09/30/2020  10:10 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
A cool-looking envelope for sure!
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 Posted 09/30/2020  10:14 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply


I hope HJ is keeping a collection of them in an album or something.
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 Posted 09/30/2020  10:21 am  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply

Quote:
I hope HJ is keeping a collection of them in an album or something.


Sadly as I'm getting these notes as "change", there are no envelopes anywhere. Maybe even have to delete the pictures. You know I don't "buy" any notes

"ifeway isyay ookinglay overyay ethay ouldershay"
Edited by hfjacinto
09/30/2020 10:22 am
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