Minor light wear with few scratches.. No cracks in the brass or bends in the piece.. In 1862, day-to-day commerce became strained by a shortage of coins.
Only faith in the central Government gave the bills any value and the Civil War put significant strain on any faith that had existed. Coins were worth more than their paper equivalent and were subsequently not spent on goods that could be bought with paper. They repeated this process numerous times, making significant profits and helped to create a severe coin shortage.
To add to the problem of the coin shortage, the lowest denomination of U. The coin shortage could be life-threatening for a society where one cent bought a newspaper, the average salary was twelve to fifteen dollars a week, and a private in the army earned about thirteen dollars a month. The populace tried many different. Methods to alleviate the coin shortage. Individual states cut their small denomination bills into pieces to make portions of a dollar.
Business issued promissary notes for change. Private companies issued Civil War Tokens.The stamps were ill-suited for this task. The mess created by loose stamps quickly deflated the elation generated by the misconception of the new law. People began looking for a way to package the stamps to keep from creating a lump in their pocket. Initially, people kept the stamps in envelops or stuck them on cards. Nevertheless, generally these methods failed to provide a workable solution. John Gault initially patented his idea on August 12, 1862. A piece of brass with a hole cut in it (the frame) followed, by mica, a stamp, a piece of cardboard, and finally, a brass backing. A button making machine pressed these items together, then bent the edges of the brass frame over the edge of the brass back. The two brass covers held the mica, stamp, and cardboard in place. The brass frame and mica protected the stamp but still allowed the stamp to be visible through the mica. The stamps available from the Post Office are called the 1861 series and came in denominations of 1¢, 3¢, 5¢, 10¢, 12¢, 24¢, 30¢, and 90¢. These stamps were new in 1861 because the Government produced the series to eliminate the value of previous stamps held in the Confederacy. Companies paid a two-cent premium above the cost of the stamp for this advertising. The 5¢ encasements made up 8% of the total while the 10¢ varieties made up 11%. The other stamp denominations of 12¢ , 24¢, 30¢, and 90¢ make up the last 6% of the original 200,000 or about 12,000. According to Reeds rarity scale, less than 60 of those 12,000 exist today. The government issued fractional currency the following year.
The item "Ayer's Sarsaparilla 3 Cent Encased Postage Stamp HE-32 EP-34b S-15b" is in sale since Wednesday, September 25, 2019. This item is in the category "Coins & Paper Money\Exonumia\Encased Coins". The seller is "columbia_obsolete" and is located in Morton, Illinois.
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