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Postage (or postal) currency was the first of five issues of US Post Office fractional paper money printed in 5-cent, 10-cent, 25-cent, and 50-cent denominations and issued from August 21, 1862, through May 27, 1863. [16] Spinner proposed using postage stamps, affixed to Treasury paper, [17] with his signature on the bottom (see illustration ...
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Most of the encased postage stamps were sold in denominations of 5 and 10 cents. However, Gault also produced his currency in all the other U. S. postal values then in production: 1, 3, 12, 24, 30, and 90 cents. A few 2 cent encased stamps were produced after the post office began issuing that denomination in 1863. [2]
Since fractional currency in three-cent denominations did not appear until late 1864, the cent was the only means then circulating of making change from the five-cent note, and came, in 1862 and 1863, to command a premium when sold in lots, of about 4%.
3 cent note George Washington: 5 cent note Thomas Jefferson: 10 cent note William M. Meredith: 15 cent note Bust of Columbia 25 cent note Robert Walker: 50 cent note William Crawford: $500 bill: William McKinley: $1,000 bill: Grover Cleveland: $2,000 bill Various historical figures $5,000 bill: James Madison: $10,000 bill: Salmon P. Chase ...
The U.S. government decided to substitute paper currency of denominations under a dollar for coins in order to solve the problem. The denominations issued were 3¢, 5¢, 10¢, 15¢, 25¢ and 50¢. There were five issues of fractional currency.
In 1863, a new 2¢ Jackson design appeared, engraved in steel by Frederick Halpin (1805–1880) and printed by Archer & Daly in pale red. A second printing appeared in brown red. Line-engraving would be employed in all subsequent Confederate stamps. Also in 1863, a 10-cent stamp was released bearing the profile of Jefferson Davis in blue.
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