Fractional Currency shield collectors' info. 0

[RWB]

The following clip from the Treasurer's report for 1870 will be of interest to those collecting fractional currency shields sold to banks in the 1860s-70s.

The shields were used to help identify counterfeit currency.

Edited September 8, 2022 by RWB

[DWLange]

Those sales include more than the currency shields, as it mentions "cards." There are quite a few specimen notes printed uniface on heavy paper.

[RWB]

Yep. Thought I'd keep the title short. By 1872 sales were up to $20,000.

[Henri Charriere]

[Fractional currency shields... never heard of them. Slomin's shield, yes, F.C.S., no.  I think it well past time I picked up a book. As always, your contributions to "the body of knowledge" are interesting and priceless.]

[DWLange]

Here's an image from the net:

 

[RWB]

Here's an example of a fractional currency shield. Quote from a Heritage auction: "Fractional Currency Shields were produced to be used in banks and post offices for the purpose of counterfeit detection. They were manufactured between June, 1866 and May, 1869 and are composed of 39 First, Second, and Third Issue uniface Specimen notes affixed to a pre-printed large piece of cardboard. As notes were taken in on deposit, they could be compared to the BEP Printed Specimens, which were true to size, and printed from the same plates as the circulation issues. The presentation satisfied the goal of intercepting counterfeits, and served as art in bank lobbies and offices. The form and function of these pieces is not lost on collectors, who simply love them."

Auction prices are in the $4,000 to $6,000 range for nice examples of common background colors. Rare colors can bring multiples. See Robert Friedberg's Paper Money of the United States.

[DWLange]

Great minds think alike...

[Henri Charriere]

It was my understanding that the intricacies of an engraver's art on this specially formulated paper (still produced, I believe, by a paper manufacturer in MA.) were dispensed with in favor of what you see today because, at first blush, the lovely designs were "too busy" to be of use to the average merchant concerned with the authenticity of the bill proffered.  Be that as it may, there is something to be said, for the "Educational" series, the "watermelon" notes and bank notes featuring Indian chiefs and locomotive trains. The fractional are wonderful--particularly those featuring multiple portraits of the president.

[EarlyUS.com]

Last year, I was cataloging for Scotsman onsite and had an opportunity to view the shield linked below.  What was amazing was a letter that was adhered to the back of the frame.  For some reason, nobody happened to notice that the letter was handwritten and signed by F. E. Spinner himself.  It also included a card that indicates the cost of the shield as "PRICE $4.50 EACH.", a bargain by my standards!

Here is a link to the auction listing where it sold for $11,210.

Oh, and full disclosure - my absentee bid was $6000.

Edited October 6, 2022 by EarlyUS.com