America's money issues

Singapore
May 10, 2011 1:50am CST
Hi i heard that america once issued a 5 cent bill. Anybody thinks that this is true?
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1 response
@owlwings (38271)
• Cambridge, England
10 May 11
I can only find a reference to a 5 cent bill issued by North Carolina in 1861. At the time North Carolina was a Confederacy and issued their own currency for four years. They issued a 5 cent bill in 1861 and 1863. http://en.wikipedia.org/wiki/North_Carolina_1861_5_cents_banknote http://en.wikipedia.org/wiki/North_Carolina_Confederate_Currency (Wikipedia is a 'work in progress' on this subject. Both articles ought to be merged and more citations are needed!) This article on the US Dollar (also needing citations in places) is complicated but interesting: http://en.wikipedia.org/wiki/United_States_dollar It seems that currency in different States varied widely in value when they began to use 'Continental Currency' linked to the Spanish Dollar (those States which were British colonies would have used English currency in pounds, shillings and pence): http://en.wikipedia.org/wiki/United_States_dollar
@owlwings (38271)
• Cambridge, England
10 May 11
It seems that, during the Civil War, metal coins were scarce and hoarded so the US Government did, in fact, issue 'fractional currency' in notes as low as 3 cents. These pages have a little more on the subject (and the second has a good picture of the 5 cent bill): http://www.collectorsweekly.com/us-paper-money/fractional-currency http://www.kennedymint.net/fractional_currency/fractional_currency.asp?cat2=5+Cents&cat3=Jefferson+Fractional+Currency&cat4=1862-1863+5+Cent+1st+Issue