Can investing and collecting go hand-in-hand? Yes -- especially if you are collecting coins, stock certificates, bank notes, or other rare items of value. Larry Schutts, an expert in investment-related collectibles, will review items of interest from his collection and answer your questions here each week.
By 1862, the U.S. government was issuing a lot of paper to finance the Civil War. It was also refusing to redeem the currency in coin. That forced banks to follow suit and citizens soon began hoarding their small change. Day-to-day commerce suffered, until Congress authorized the printing of currency notes with denominations of less than one dollar. People had begun using postage stamps in lieu of coins and that prompted the issuance of notes that carried the images of contemporary stamps of equivalent value. Counterfeiting problems led to more elaborate designs, but the initial issue of "Postage Currency" and four subsequent issues of "Fractional Currency" served Americans well for the next 14 years.
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