PMG-certified Fractional Currency Rarities Showcased in Heritage Sale

Posted on 12/30/2020

The January auction features valuable notes from the 1860s and 1870s, including one with an estimate of at least $45,000.

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.

Click images to enlarge.

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:

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

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