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3 Cents 'Fractional Currency' - 3rd series
| Issuer | United States Treasury |
|---|---|
| Year | 1863 |
| Type | Standard circulation banknote |
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| Obverse description | Central vignette of a portrait of George Washington within an oval frame, with the denomination numeral '3' repeated in the upper corners. The face carries the series designation 'Third Issue' with surrounding inscriptions noting the authorizing Act of March 3, 1863 and the note's acceptability for U.S. postage stamps. Letterpress printing with fine lathe-work border. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Central wreath enclosing a large Roman numeral 'III', flanked by additional Roman numeral denomination markers in all four corners and a ring of stars surrounding the wreath. Bilateral inscriptions describe the note's legal tender provisions. Printed in green ink with fine geometric guilloche lathe-work. |
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| 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.