Second Issue Fractional Currency Notes
The term “fractional currency” was first used on the second issue. They were issued from October 10, 1863 to February 23, 1867. The design elements were basically all the same for the 5, 10, 25, and 50 cent denominations. Printing ranges were between 12 million and 60 million, depending on the denomination. Each note was complete with a bronze oval on the front of the bill. This was to help deter counterfeiters. Counterfeiting was a major problem with the first issue of fractional currency. The factors determining rarity here are based on the type of paper each note was printing on, and what kind of surcharges are on the back of it. You can click on a picture below to learn more about each denomination.