U.S. Fractional Currency, 10¢ Note, Fifth Issue - 1874 - United States of America

Includes archival-grade plastic banknote sleeve for protection. Size: 3.3 x 2.1 inches Date: 1874 Portrait: William M. Meredith, Secretary of Treasury (1849) About Fractional Currency Notes: Fractional currency, also known as shinplasters, were a form of US currency worth less than a dollar in value that were introduced following the start of the Civil War. The term “shinplaster” was coined earlier, during the Revolutionary War. Soldiers would put pieces of paper, typically low-denomination currency notes, inside their boots to cushion their shins against chafing or rash, and due to their low denominations, the Civil War era fractional currency earned the shinplaster nickname. Fractional currency notes were introduced to address coin shortages that were at least partially caused by hoarding, since coins were valued for their bullion content during times of instability. The shortage made everyday transactions more difficult, and people began using encased postage stamps to make c