Description

Francis E. Spinner became the Treasurer of the United States in March of 1861. He conceived the idea of “emergency” money by using groups of stamps pasted onto treasury paper. On July 17, 1862 Congress authorized the use of postage stamps as payment. This five-cent postage stamp currency looks like a regular stamp, but it had no adhesive backing and could not be used on mail.

Record Contributed By

National Museum of American History

Record Harvested From

Smithsonian Institution