PMG-certified Fractional Currency Rarities Showcased in Heritage Sale

One of the scarcest and most valuable US Fractional Currency notes known is part of a Heritage Auctions sale in January. Certified by Paper Money Guaranty® (PMG®), a rare variety of 50 Cents is the top note in the Robert Laub Blue Collar Collection of Fractional Currency Special Online Auction. Bidding is open for the sale, which concludes January 17, 2021.

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The 50 Cents Third Issue Fractional Currency graded PMG 53 About Uncirculated has an estimate of at least $45,000. It is the only example PMG has graded of Friedberg# 1373a, which has a green back with a surcharge of S-2-6-4 printed at the corners. Only nine are known, according to Heritage Auctions.

Fractional Currency was introduced in 1862 to facilitate commerce amid a coin shortage during the Civil War. These notes were issued in denominations of 3, 5, 10, 15, 25 and 50 cents. The First Issue notes resemble postage stamps and were printed for less than a year. By the time the printing of Fractional Currency ended with the Fifth Issue of 1874-1876, silver coinage had resumed its place in everyday transactions.

Other PMG-certified highlights of the sale include:

• a 50 Cents Third Issue Fractional Currency graded PMG 30 Very Fine NET with an estimate of at least $25,000
• a 50 Cents Third Issue Fractional Currency graded PMG 30 Very Fine EPQ with an estimate of at least $25,000
• a group of Fractional Currency Proofs on Bristol Board graded PMG 62 Uncirculated to PMG 64 Choice Uncirculated with an estimate of at least $20,000
• a 50 Cents Third Issue Fractional Currency Wide Margins Specimen graded PMG 55 About Uncirculated EPQ with an estimate of at least $15,000
• a 50 Cents Third Issue Fractional Currency Wide Margins Specimen graded PMG 64 Choice Uncirculated with an estimate of at least $12,500
• a 50 Cents Third Issue Fractional Currency Wide Margins Specimen graded PMG 58 Choice About Uncirculated with an estimate of at least $10,000
• a 10 Cents Third Issue Fractional Currency Wide Margins Specimen graded PMG 63 Choice Uncirculated with an estimate of at least $10,000

All estimates are provided by the auction house in US dollars.