Because of the lack of gold, silver, and copper during the time of the U.S. Civil War, the U.S. government released Fractional Bank notes in 3, 5, 10, 15, 25, and 50 cent amounts. The Postage Currency Act was passed by both President Abraham Lincoln and Congress on July 17, 1862. This granted the printing of 5, 10, 25, and 50 cent bank notes.

Because they appeared much the same to the 5 cent and 10 cent postage stamps, the first issue of these notes were referred to as Postage Stamp Currency. The Postage Stamp Currency was never allowed as legal tender and the only two uses of it was: 1.) To be traded for United States Notes in $5 increments and 2.) To be receivable as payment for dues to the United States government in $5 amounts or less.

In the beginning months of being produced, the bank notes were printed in perforated sheets sold to both banks and the public so that people could easily rip off what they needed.  After a while, the notes were just printed to be cut with scissors because the perforating machine could not handle the amounts of notes.

A new order of Fractional Currency bank Notes were printed in 1863. These bank notes were more colorful and more difficult to counterfeit than the Postage Currency of 1862. This was requested by U.S. Secretary of the Treasury, Salmon P. Chase.

There was a controversy with the third order of the 5 cent bank note because Spencer M. Clark's ( the National Currency Bureua's first superintendent) portrait was on the note which was illegal due to the law that requires notable U.S. citizens on currency to be deceased for at least two years.

In September of 1883, United States Fractional Currency was replaced by postal notes. Postal notes were made for the purpose of sending amounts of money $5 or under to distant places both securely and at a low cost.

1869 - 1875 25¢ US *George Washington* Fractional Note    US $21.61

US FRACTIONAL CURRENCY 3 CENT NOTE THIRD ISSUE #1226 NR    US $26.00

US Fractional Currency 4th Issue 50 Cent Lincoln Note    US $36.55

In the April of 1861, two months after the formation of the United States Confederacy, the Confederate States of America Dollar was released into circulation.

The banknotes came in many different designs and were released in $1/10, $1/2, $1, $2, $5, $10, $20, $50, $100, $500, and $1000 amounts. The bills were printed from 1861 to 1865, totaling $1.7 billion. There were 72 different types of notes printed in seven series during this time.

In the beginning, the Confederate money was admitted in the South as valuable, but as the war continued, more paper money was printed and the dates on which it able to be redeemed kept getting longer into the future. Inflation went through the roof and the money's value kept going down. It got so bad that by the end of the Civil War, the money was almost worthless.

Due to the few amount of proficient printers, engravers, and safe places to print in the South, the designs of the early Confederate currency were not correlated to each other very well. Some of the notes had pictures of greek gods and goddesses while other more southern themes showed African-American serfs, state capitols and ships, and people of historical importance, like "Stonewall" Jackson or George Washington. Other people who were pictured on later Confederate States of America money were Alexander Stephens, George Randolph, Jefferson Davis, and Lucy Pickens.

Because of banks and states being able to print their own notes and the many different variations of notes counterfeiting of Confederate currency was very common. These counterfeits were worthless at the time but now they are valuable and can be worth as much as official Confederate States of America paper money.

To prevent counterfeiting, most of the Confederate bills were hand signed by Register Robert Tyler and Treasurer Edward C. Elmore. This did not go on for long as it was impossible for both men to sign each and every note printed at the time. Instead, women were hired to sign for the Register and for the Treasurer and over time both Tyler and Elmore hired 200 women to sign the bills for them.

South Carolina 5 Dollar Bill 1861 (Pre- Confederate)    US $29.00

1862 2 Dollar Confederate States Note Rare Variety T42    US $149.00

Bank of Chattanooga Confederate Two dollar bill    US $34.00

Fake United States Paper Currency Denominations have been used as both jokes and as a real attempt of counterfeiting. Counterfeiting was common back in the 1800s until the National Banking Act in 1863 was passed. This is because until then banks were allowed to print their own currency so there were no questions asked if a bill was legitimate or not.

The $3 bill has been released more as a practical joke to poke fun at celebrities like Bill and Hillary Clinton, Micheal Jackson, and Richard Nixon. There is a saying that goes with this, "Queer as a three dollar bill."

There was a $22 bill made by Lawrence Wagner (a.k.a. Love 22) who was a U.S. Presidential Candidate. He printed the bill because being a numerologist he believed that the number 22 was very important. The Federal Government indicted him for the crime of counterfeiting, but he was let go because technically you can not counterfeit something that doesn't exist.

In 2001 and 2003 there were two occasions where a $200 bill was used to pay for items. The one bill had a picture of President George W. Bush on the front of it.

A $1,000,000 bill does not exist now and has never existed, so the U.S. Federal Reserve allows it to be printed as a novelty. There have been times when someone has tried to deposit the bill into a bank account or use it for puchasing something.

Ray Comfort, a Christian evangelist, has a ministry called Living Waters Publications which produces fake $1,000,000 bills and fake $1,000,000,000 bills. The $1,000,000 has Rutherford B. Hayes, the 19th U.S. President, on the front of it and the $1,000,000,000 pictures the 19th British evangelist Charles Spurgeon. Both notes have gospel messages on the back of them.

SET OF UNITED STATE BILLS + BONUS (1,275 Bills)    US $199.95

1963 $5 DOLLAR BILL UNITED STATES RED SEAL * STAR NOTE    US $24.50

1917 $2 BILL UNITED STATES LEGAL TENDER RED SEAL NOTE    US $125.00

Greenbacks. Moolah. Dough. Benjamins. All nicknames for the one thing we’re all in an endless quest to get more of—cash money. It’s as much a part of our everyday lives as is sleep, food, even breathing. But have you ever really stopped to take a look at these little green monsters that seem to run our lives?

If you really take a closer look at our notes of legal tender, there’s really quite a bit going on. So the next time you’re not busy spending one—or if you have absolutely nothing else to do—grab a dollar bill from your wallet and take a good long look at it. After you read this article, you’ll finally know what all those symbols and strange words mean.

First things first, feel the money in your hands. Doesn’t really feel like paper, does it? That’s because it isn’t. Paper money isn’t really paper at all. It’s actually a linen and cotton blend—a cloth! That’s why it doesn’t fall apart when it goes through the washing machine. In fact, there are even tiny red and blue silk fibers running through each bill.

Now, take a good look at the overall design. The dollar bill we use today first was first put into circulation in 1957. The ink used for printing is made of a secret blend—one of many built-in security features used to prevent counterfeiting.

Take a look at the front first, to the right of the portrait you’ll notice a green stamp—the seal of the U.S. Treasury. It includes scales representing a balanced budget, a carpenter’s square signifying an exact cut, and a key to the Treasury itself. On the front, you’ll also notice green serial numbers, the signatures of the U.S. treasurer and secretary of the treasury at the time the bill was printed, and the seal of the mint where the bill was printed.

Now, turn the bill over. You’ll notice a circle on either side. Together, they represent the Great Seal of the United States, created by Benjamin Franklin and a group of our country’s founders in 1782. Go to the left circle first and look at the pyramid. The face is lighted while the western side remains dark. The darkness signifies the Western U.S., which had yet to be explored. The unfinished pyramid represents the untapped potential of the country, while the all-seeing eye hovering above is symbolic of a divine being overseeing mankind. In this circle, you’ll find two Latin phrases, “ANNUIT COEPTIS” (God has favored our undertaking), and “NOVUS ORDO SECLORUM” (A new order has begun).The Roman Numerals at the base of the pyramid translate to 1776.

The circle on the right might look more familiar to you. That’s because it’s prevalent on many national monuments, cemeteries, and—though slightly tailored—is also the Seal of the President of the United States. The centerpiece of the Seal is the Bald Eagle. It was selected as the official symbol of the U.S. for a couple of reasons: Though not afraid to weather a storm if he must, the eagle first looks to fly above it. Also, though it may appear so, the eagle wears no actual crown—symbolic in the country’s break from the King of England. Additionally, the eagle’s shield requires no support; it now can stand by itself.

Other details of note: the white bar on the top of the shield represents the unifying power of congress, the term “E PLURIBUS UNIM” means “one nation from many people”, and the 13 stars signify the 13 original colonies. The eagle holds an olive branch in one set of talons arrows in the other. His gaze, though fixed at the peace-representing olive branch, won’t hesitate to turn to the sling of arrows if need be.

So there you have it; all you ever wanted to know about the design ideas behind our beloved U.S. currency. Use it to enlighten guests at your next dinner party, or inform the guy at the coffee shop as you hand him a five dollar bill for that latte.

Joe Kenny writes for the Personal Loans Store, allowing visitors to compare loans and also focuses on personal loans in the UK.

Visit Today: http://www.ukpersonalloanstore.co.uk

Article Source: http://EzineArticles.com/?expert=Joseph_Kenny
http://EzineArticles.com/?The-Anatomy-of-a-Dollar-Bill&id=316892

It’s funny to think just how many people use paper money yet do not really know how the whole concept of paper money started.

Paper money was non existent in the ancient world. Money was mostly coins made from gold or silver or other metals and the more you had, the richer you were.

In order to understand the concept behind paper money, we must look at pre-modern history.

The story of paper money started in eleventh century England. In those times, noblemen were rich and yet they were never satisfied with the amount they had. Besides having lavish life styles demands were placed upon all nobles by the king to pay royal taxes. In the days of the crusades these demands were almost unbearable. The crusades were crippling the economy.

Something had to be done to produce more money, money was power and without it, if you were a nobleman, you were nothing.

One way for nobles to raise money was to levy taxes on the inhabitants of their lands. This was a limited source of income because even if they were taxed to the maximum physically possible there was still only so much to be had.

The other way to acquire more treasure was to wage war on your neighbours, kill them and do of with their treasure. It wasn’t hard to find ligitate reasons for war in those days. Offense could be taken and honor defiled for reasons for which we would hardly even bat an eyelid at nowadays.

Noblemen began to look for ways of stopping others from doing away with their own hard plundered money.

Jews were now coming to live in England. Noblemen knew that Jews had experience in working with and guarding precious metals. The Jew was in a precarious position, he had no citizenship and few rights. By giving the Jew great responsibility he was committed to absolute loyalty.

To this end a number of specially guarded secret stongholds were set up in which to hold the funds and treasure of all the noblemen who cared to entrust it to the protective care of the Jews. Nobody dare attract these strongholds because to do so would be classed as absolute treason and the penalty for such treachery would result in the most terrible death imaginable.

For each pound’s weight of gold that a noble had in the vaults, they were issued with a paper certificate that promised to pay the bearer of that certificate the weight of one pound in gold.

Thus, the nobles could extract only as much gold as they intended to use, keeping the rest safe.

As time past these Jewish trustees realized that gold was not being reclaimed to the extent that they had originally expected. What they saw was that the bearers of the certificates were exchanging them for goods or services which they would have otherwise bought with gold or silver coins. A new method of payment was emerging.

This meant that if the gold was not being withdrawn, odds could be calculated on what the chances were that everybody would come to claim their gold at the same time. These odds varied from period to period according to various political and demographic factors and conditions but on the whole it was calculated that the odds that all gold would be reclaimed at any one specific time were about eighteen to one.

Gold and silver bullion was now becoming security for a new financial structure.

It was now possible to print more certificates that could be given on loan under the agreement that a certain level of interest would be added to the total sum to be paid back.

To the nobles and the monarchy, this was a huge benefit, it was now possible for them to think in business terms instead of being just feudal rulers.

Nobles could set up businesses with borrowed funds within their dominions and appoint people to run these businesses for them. These new businesses ranged from farms to mills to breweries and a great many other businesses.

Noblemen could now pay royal taxes from their earnings and not only through the levy of heavy taxes on constituents and waging war on other noblemen. A new order had come about in the nobility. Could it have been that this was the real reason for the writing of the Magna Carta? After all, in those days, such advancement was a good as a new world order.

The Jews who managed these systems, in time spread to many other countries and set up similar frameworks in those places. Nations protected these people with all their might. They became the very foundation of the wealth of nations. This special class of people became untouchables.

In time, those Jews who were entrusted with the wealth of nations (and indeed sill are), became the most powerful people in the world. They had the power to open and close the taps that feed economies.

Institutions were set up to deal with the withdrawal of funds so that there would be no need to deal directly with the holders of the bullion. In this way the families responsible for holding the nations wealth were able fade into a world of secrecy and virtual anonymity. These institutions are, of course, banks.

Nowadays, not all the families in the business of printing money and holding bullion are Jews. Others, by inter marrying with the Jews or by duplicating the system elsewhere have become established in the “money printing” business.

This, dear reader, is the true story behind the history of paper money.

Thought! Could this be the real reason behind modern anti-semitism? Could it be that some of those self same people who needed the help of the Jews so urgently in those troubled times resented the power that they inevitably had no option other than to hand over to their Jewish trustees?

Antisemitism has been rife throughout the cultured world throughout history but remember that the families who control the power of money have remained immune to this and rightly so. The rage of antisemitism has always fallen on Jews who are lower down on the socio-economic ladder, Jews who are merely trying to live their lives in peace and who have done nothing to deserve this hatred.

Rulers of countries of land who have traditionally kept their citizens in a state of abject squaller and poverty have systematically pointed their finger at the Jew who saved their skin by guarding their treasuries. What they hated was the fact that the Jew was the only one who could get him out of the utter state of futility that was his medieval reality.

Thus, these unscrupulous noblemen vented their frustration against their Jewish financiers by instilling hatred in the primitive minds of their subjects. The reason being that this distraction diverted the blame from them as the real cause of the hardship and misery.

In our modern times the need to print money is so great that there is only a very small fraction of the total worth of all the money in circulation that has physical gold or silver security behind it. Mostly, it is accepted to take security in the form of paper.

Hello, I'm Andy Routledge. Hi, how would you like to know how you can put a unique article like this one onto the internet with a URL that you create in less than five minutes and for free. Wait, there's more. You also get tools to help you add interesting sections to your web page that are just so easy to use. Plus, you can advertise on the pages and interlink with your other websites or affiliate sites all at no cost to you. Follow this link to see how.
http://www.squidoo.com/snake

Article Source: http://EzineArticles.com/?expert=Andrew_Routledge
http://EzineArticles.com/?The-History-Of-Paper-Money&id=368580