Shortly after the outbreak of the Civil War, the U.S. federal government began issuing Fractional Currency. It was only produced from 1862 to 1876 because gold and silver coins were being horded, creating a serious coin shortage. The first attempt was called Postage Currency. The new Fractional Currency looked a lot different. Recognizable differences included more color, printing on the reverse, and watermarks to dissuade counterfeiters.
Fractional Currency was produced in denominations of 3, 5, 10, 15, 25, and 50 cents. There are twenty-three different designs of Fractional Currency, all of which are highly sought after by collectors. They are relatively scarce, although moderately priced.