William Newton & Co., Newport R.I., 5c Precursor Fractional Currency with 1861 Issue Postage Stamps (Durand Catalog No. 679). 110 x 56mm, first issue without the imprint at bottom, with two 1c Blue (63) and one 3c Rose (65) affixed in marked spaces, each with trimmed perfs as found on each of the few known examples, printed dateline "Newport, July 4, 1862", light creases and tiny tear at top center

VERY FINE. AN EXTREMELY RARE EXAMPLE OF THE WILLIAM NEWTON & CO. GROCER DEALER 5-CENT FRACTIONAL CURRENCY NOTE WITH 1861 ISSUE STAMPS.

Due to a shortage of coins during the Civil War, some private firms used stamps to make change and in the process to help advertise their business. Best known among these uses are the various issues of encased postage. This note from William Newton & Co. is highly collectible as a United States stamp rarity and as a precursor to U.S. issued fractional currency (which followed in August 1862).

There are two types of the William Newton & Co. note. The first issue, offered here, is dated July 4 and lacks the imprint at the bottom. The second issue, dated July 24, states "Unless kept clean these Stamps will be useless for circulation and Post Office purposes" (see Siegel Sale 955, lot 4130 for an example of the second issue). Due to the fragile nature of the paper most of these were likely destroyed. The few known examples of both issues have creases and some are defective.

With 2005 P.F. certificate

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