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<p>[QUOTE=&quot;RickieB, post: 774777, member: 2486&quot;]HnstAbe:</p><p><br /></p><p>Fractional Currency is a truly interesting subject! When I first began collecting Paper Money my initial goal was to assemble the&nbsp; 4th Issue of fractionals as well as the&nbsp; 5th Issue.</p><p><br /></p><p>It all starts back during the start of the Civil War when coin was hoarded to the point where the gradual withdrawal from circulation had a severe impact. After the suspension of specie payments in December 1861,it was difficult to provide changefrom these small silver coins,this, along with an out cry from the people created a necessity for fractional currency authorized by our National Government. </p><p><br /></p><p>July 17, 1862 there was an Act authorized for payment in stamps and required the Sec of the Treasury to furnish said stamps.</p><p>It was the latter part of August 1862 when the Post Office Department made the first delivery to the Treasury Department and circulation began. From this time point on, the entire charge of the printing and distribution was assumed by the Treasury Department.</p><p>This lead to the birth of what we now know as the Bureau of Engraving and Printing. Spencer Morton Clark was it&#039;s first chief and the currency of the United States of America is for the first time printed not using established Banknote Companies.</p><p><br /></p><p>It would take a while to write out the whole thing but this synopsis will provide you with a starting point.&nbsp; Also click the links to a few thread that have images and presentations on the beginning of the BEP.</p><p><br /></p><p>Enjoy..</p><p><a href="http://www.cointalk.com/t79816/" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/t79816/">http://www.cointalk.com/t79816/</a></p><p><br /></p><p><a href="http://www.cointalk.com/t80818/" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/t80818/">http://www.cointalk.com/t80818/</a></p><p><br /></p><p>RickieB[/QUOTE]</p><p><br /></p>

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