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TT FR 1230 5 CENT FIRST ISSUE FRACTIONAL GREAT MARGINS LCG 67 PPQ SUPERB GEM NEW

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Price: $1,095.00   
Grade: 67
Quantity: 1
Last Update: 4/1/2021
Dealer:  (Terms) Trusted Traditions, Inc. (1)
5 Cent Fractional First Issue Fr# 1230. Graded 67 PPQ (Premium Paper Quality) Superb Gem New by LCG. According to PMG Population Report this gorgeous example is tied with three more at the grade level of 67 and there is only one example grade a single point higher. This is a wonderful, original note with nice color, sharp printing, and bright paper. This gorgeous example is as nice as any other "67" or "68". It is common enough in most grades, but seldom seen at this level. The first coin substitute notes issued under the 1862 Act were called Postage Currency. These notes are easily identified because they feature reproductions of then current postage stamps. These notes came with perforated and straight edges. They were printed by the American Bank Note Co. and the National Bank Note Co. which were basically extensions of the government holding a special license amounting to a monopoly. The Currency Act of April, 17th 1876, directed that all Fractional currency notes were to be redeemable with silver coin. This act also brought about a fifth issue of fractional paper currency that was not easy to fake. By the end of the Fifth Issue in early 1876, there were more than enough silver coins circulating to meet the everyday needs of the nation and paper fractionals more or less died out. Please view our other on FIRE Ebay auctions. If there is something specific you need, please contact us by email or by calling. Enjoy! 33021iiiylc.

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