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50 Cents 'Fractional Currency' - 3rd issue
| Issuer | United States Treasury |
|---|---|
| Year | 1863 |
| Type | Log in to see details |
| Value | 50 Cents (0.50 USD) |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Engraver(s) | Log in to see details |
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| Obverse description | Central vignette is an engraved portrait of Francis E. Spinner, U.S. Treasurer (1861–1875), set within an elaborate lathe-work frame. Brown anti-counterfeiting overprints appear across the face, including denomination numerals and ornamental devices. Surrounding text carries the statutory authority legend and designation of redemption offices, printed by letterpress. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | The reverse is printed entirely in green, with two large oval guilloche medallions at left and right, each enclosing a cursive-style numeral '50', surrounded by intricate lathe-work scrollwork. A central rectangular panel, framed by fine engine-turned borders, carries the conditions of redemption in letterpress text. A brown overprinted '50' spans the central panel as an anti-counterfeiting device, and repeating 'UNITED STATES 50' denominator strips run along the top and bottom margins. |
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| Comments |
Third Issue Fractional Currency emerged from a genuine emergency: the hoarding of coins — silver especially — that followed the outbreak of the Civil War left ordinary commerce paralyzed. Small transactions simply could not be completed. The earlier First Issue notes had been printed on ordinary postage stamp paper with gum on the reverse, an embarrassing improvisation that the Treasury moved quickly to correct.
The Third Issue introduced the colored fiber paper and surcharge overprints specifically to defeat increasingly sophisticated counterfeiters. Fr. 1331 carries a red reverse surcharge, one of several surcharge variants in the series — distinguishing them requires attention to both face and back.