File:US Fractional Currency 3 Cent 1864.jpg

Three-cent US Fractional Currency, third issue, featuring George Washington. These were issued between December 5, 1864 and August 16, 1869. 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. On March 3, 1863 Congress authorized the printing of Fractional Currency and it was issued until 1876. The Treasury Department kept detailed records and 20,064,130 three-cent notes (third issue) were printed. The note is 2.5 by 1.75 inches (63.5 by 44.5 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. Collectors refer to this three-cent note as a type F-1226, a variation with a dark background in the portrait is a type F-1227.