| Fr # | 1251spwmf |
| Denomination | .10c |
| Series | Fractional |
| Grade | PMG 66 Exceptional Paper Quality |
| Comments | Exceptional Paper Quality |
| PMG # | 1520873-016 |
| PMC Category | Gold |
| Estimated Value | $750.00 |
During the Civil War, severe economic conditions led to widespread coin shortages, prompting the issuance of fractional currency—paper money in denominations under $1. Issued from 1862 to 1876, this currency spanned both the war and the Reconstruction era.
Five series of fractional currency were printed, beginning with the First Issue (August 21, 1862 – May 27, 1863), known as "postage currency." These notes came in 5-cent, 10-cent, 25-cent, and 50-cent denominations. Initially produced by the National Bank Note Company of New York, the U.S. government later had the American Bank Note Company print the reverses for security reasons, adding an "ABNCo" monogram in the lower right corner. Today, these notes are highly valued by numismatists and sought after by stamp collectors.