1870's US Fractional Currency 50¢ Fourth Issue Fr-1376

1870's US Fractional Currency 50¢ Fourth Issue Fr-1376
1870's US Fractional Currency 50¢ Fourth Issue Fr-1376 Edwin Stanton Graded xf40 EPQ By PMG. Edwin McMasters Stanton (December 19, 1814 – December 24, 1869) was an American lawyer and politician who served as Secretary of War under the Lincoln Administration during most of the American Civil War. Stanton's management helped organize the massive military resources of the North and guide the Union to victory. However, he was criticized by many Union generals, who perceived him as overcautious and micromanaging He also organized the manhunt for Abraham Lincoln's assassin, John Wilkes Booth. Fractional or postage currency has a rich history. At the beginning of the Civil War people starting hoarding coins for their precious metal content. Coins became difficult to find because of the hoarding. People started to try to use stamps instead of coins as a means of commerce. The government decided to help ease the hoarding issue by issuing “paper coins” also known as postage currency or fractional currency. Fractional currency was first issued on August 21, 1862 and they were last issued on February 15, 1876. Three cents, five cents, ten cents, twenty-five cents, and fifty cents notes were all issued. Fractional currency is physically smaller than other United States money. It also does not have a serial number.