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50 Cents 'Fractional Currency' - 3rd issue
| Issuer | United States Treasury |
|---|---|
| Year | 1863 |
| Type | Standard circulation banknote |
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| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | ACT APPROVED MARCH 3RD 1863 FIFTY UNITED STATES FRACTIONAL CURRENCY FIFTY CENTS FURNISHED ONLY AND DESIGNATED ASSISTANT DEPOSITORIES Treasurers United States. REGISTER. TREASURER RECEIVABLE FOR ALL UNITED STATES STAMPS FIFTY ENG. & PRINT. AT THE TREASURY |
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| Protection type | Log in to see details |
| Protection description | Brown anti-counterfeiting overprint applied to both obverse and reverse, consisting of large denomination numerals and ornamental devices intended to frustrate photographic reproduction. |
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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.