This is a 2nd issue fractional currency. It was issued from October 20, 1863 to February 23,1867. The government also issued 5, 10 and 25 cents (along with the 50 cents which you own). All the 2nd issue feature George Washington.
Fractional currency was issued during the civil war as all the coins were hoarded and businesses needed to provide change to the customers. In all 5 separate issues of currency were issued. The below is an example of a 50 cent from the 5th issue.
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