Fractional Currency - Postage Currency
Dec 26, 2015 2:28:10 GMT
rod222, zipper, and 3 more like this
Post by Deleted on Dec 26, 2015 2:28:10 GMT
The story of fractional currency is well documented.
The first issues used facsimiles of stamps created by Francis E. Spinner, the US Treasurer.
Although not "legal tender" postage currency could be exchanged for United States Notes in $5 lots and were receivable in payment of all dues to the United States, up to $5.
These were simple to forge & the government adopted designs more difficult for counterfeiters to produce.
The original Issues
As noted some were plain and others were edge perforated. The backs were plain or with designs as shown.
Original artwork by Spinner and a proof
Some Forgeries
As crude as they may appear, no one had the internet to see the actual ones, so great quantities were passed off.
Of interest - Spinner and a friend included photos of themselves in later issues.
This prompted some serious criticism in the government and the rule that no other living persons should be depicted on stamps or currency. Of course this rule has been amended several times since.
Clark
Spinner
A rare proof of Sherman & Grant never issued as a result of the "No Living Person" rule
Merchants also saw an opportunity in using stamps both as currency and advertising
The first issues used facsimiles of stamps created by Francis E. Spinner, the US Treasurer.
Although not "legal tender" postage currency could be exchanged for United States Notes in $5 lots and were receivable in payment of all dues to the United States, up to $5.
These were simple to forge & the government adopted designs more difficult for counterfeiters to produce.
The original Issues
As noted some were plain and others were edge perforated. The backs were plain or with designs as shown.
Original artwork by Spinner and a proof
Some Forgeries
As crude as they may appear, no one had the internet to see the actual ones, so great quantities were passed off.
Of interest - Spinner and a friend included photos of themselves in later issues.
This prompted some serious criticism in the government and the rule that no other living persons should be depicted on stamps or currency. Of course this rule has been amended several times since.
Clark
Spinner
A rare proof of Sherman & Grant never issued as a result of the "No Living Person" rule
Merchants also saw an opportunity in using stamps both as currency and advertising
