The discovery of a 10-cent Third Issue fractional currency note has
been confirmed by Rob Kravitz.
Kravitz, a dealer in fractional currency in St. Louis, said Jim
Jackson showed him the note at a coin show Jan. 19.
Kravitz examined the note at the show and later checked his
library at home for any mention of the note in past auction transactions.
Finding no mention, Kravitz then called Jackson and said he
believed the note was a discovery.
Kravitz, the author of A Collector’s Guide to Postage &
Fractional Currency, said he checked The Encyclopedia of United States
Fractional & Postal Currency by Milton R. Friedberg, published in
1978, as well as auction records and confirmed the note is unique.
The note has a printed signature, making it distinctive, with the
words “Register” and “Treasurer” handwritten under the printed
signatures. The uniqueness of this note derives from the fact that the
handwritten words “Register” and “Treasurer” normally would only
appear under autographed (hand-signed) issued notes or autographed
specimen and proof notes.
Paper Money Guaranty graded the note Choice Uncirculated 64,
Friedberg 1251, Red Back (as cataloged in Paper Money of the United
States by Arthur L. Friedberg and Ira S. Friedberg).
Congress authorized postage currency, also known as the First
Issue fractional notes, in August 1862.
The First Issue notes actually depict stamps in use at the time,
and the notes are perforated like stamps. The Second through Fourth
Issues, known as fractional currency, do not resemble postage.
Fractional notes were issued into 1876. ■