Numismatic Dictionary

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There are 4 names in this directory containing the search term Fractional Currency. Clear results.
Numismatically, a bit is one-eighth of a dollar. It comes from the days when the Spanish Milled Dollar, or 8 reals coin, was cut into bits for fractional currency. See also milled dollar or real.

Fractional Currency
Currency that was issued 1862-1876 to deal with the shortage of coinage. Its issue coincides with the beginning of the Civil War. All fractional currency notes were printed with face values of less than one dollar. There were five issues of Fractional Currency with the first issue known Postage Currency. These are the first currency notes issued by the United States federal government. See also Postage Currency.

Postage Currency
Small, rectangular paper that looked like postage stamps but larger without gum on the reverse to be used in commerce issued 1862-1863. See also Fractional Currency.

A slang term used for paper money with a low face value. Citizens of both the United States and Canada used this term for their respective fractional currency issued during the 19th century.

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