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3 Cents 'Fractional Currency' - 3rd series
| Issuer | United States Treasury |
|---|---|
| Year | 1863 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Dollar (1785-date) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Act of March 3d. 1863 United States RECEIVABLE FOR ALL U.S. STAMPS. THREE CENTS Furnished only by the Assistant Treasurers & Designated Depositaries of the United States. FRACTIONAL CURRENCY Treasury Department |
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| Variants | P#105a - portrait with light background P#105b - portrait with dark background |
| Comments |
The Fractional Currency program was a direct response to coin hoarding that began almost immediately after Fort Sumter. By mid-1862, specie had vanished from everyday commerce — people were using postage stamps as small change until the gum made them unmanageable. The 3-cent denomination tracked the contemporary 3-cent postage rate and the copper-nickel 3-cent coin it was effectively replacing in transactions.
Third Series notes were printed on paper with pink fibers embedded as a rudimentary anti-counterfeiting measure — a response to the embarrassingly successful forgeries that had plagued the First and Second Series. The Bureau also added a red Treasury seal to this series specifically because of that counterfeiting problem.