Description: Extremely rare 1861 Civil War 50 Cent Fractional Note. Issued by the Bank of the State of Georgia, these notes were issued as a replacement for the short supply and circulation of metals such as gold and silver coins. In December 1861, banks suspended specie payments, meaning they stopped redeeming paper money with gold or silver coins. This was due to the economic instability and uncertainty caused by the Civil War. As a result, gold and silver coins were hoarded by the public, and paper money, including fractional notes like the 50 Cent Note, became more common in circulation. By the summer of 1862, small change had largely disappeared from the economy, which increased the reliance on fractional currency issued by state banks and the federal government. The Confederate states, including Georgia, faced significant financial challenges during the Civil War. The issuance of local banknotes like the 50 Cent Note was a response to the need for small denominations for everyday transactions, as the war disrupted normal economic activities and trade. Every note comes in rigid protective sleeve!
Price: 40 USD
Location: White Plains, New York
End Time: 2024-12-01T17:13:00.000Z
Shipping Cost: 0 USD
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Item Specifics
All returns accepted: ReturnsNotAccepted
Denomination: .50
Type: Banknotes
Grade: Ungraded
Country/Region of Manufacture: Georgia
Certification: Uncertified
