Five-cent US Postal Currency, first issue, featuring Thomas Jefferson. Gold, silver and copper coins were horded at the start of the Civil War and postages stamps became a popular form of currency; however the adhesive back was a serious impediment. On July 17, 1862, Congress authorized printing of Postal Currency notes in the denominations of 5, 10, 25 and 50 cents. These notes could be redeemed for postage stamps or for a US bank note in the amount of five dollars or more. The Postal Currency was succeeded by Fractional Currency in 1863. The Post Office kept detailed records and 44,857,78
Five-cent US Postal Currency, first issue, featuring Thomas Jefferson. Gold, silver and copper coins were horded at the start of the Civil War and postages stamps became a popular form of currency; however the adhesive back was a serious impediment. On July 17, 1862, Congress authorized printing of Postal Currency notes in the denominations of 5, 10, 25 and 50 cents. These notes could be redeemed for postage stamps or for a US bank note in the amount of five dollars or more. The Postal Currency was succeeded by Fractional Currency in 1863. The Post Office kept detailed records and 44,857,780 notes were printed from August 21, 1862 to May 27, 1863. The note is inches ( by mm). The notes were printed on sheets of 20 and initially perforated like stamps. Later versions omitted the perforations and the notes were cut with a scissors. The front of the notes were engraved and printed with brown ink on yellow paper by the National Bank Note Company. The backs were engraved by the American Bank Note Company and printed by the American Bank Note Company and US government. (Note the ABC logo in the lower right corner.) Blake, George Herbert . (1908). United States Paper Money. Pages 32 to 41. 1
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