US 10 Cent Bill "Fractional Currency", Columbian Bank Note Co

This is an interesting piece of history I wanted to share - my usual posts involve precious metals in all their glory, but history is full of gems itself.

Take for example this 10 cent bill, dated March 34rd 1863. These types of notes are known as "fractional currency" or "paper coins", and were issued after the Civil War broke out between 1862 and 1875.

How much can 10 cents buy you today? People don't even take their change if it's less than 25 cents a lot of the time. But back in 1863, 10 cents actually meant something. They say the US dollar has lost something like 96% of its value since the inception of the Federal Reserve. This private organization has devalued our currency slowly but gradually.

Back to the note...

It reads "Columbian Bank Note Co" at the bottom - how cool is that?

For more information on fractional currency, check out this Krause Publications article on these fascinating pieces of history: http://numismaster.com/ta/numis/Article.jsp?ArticleId=15559

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