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What does this circle mean?

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Please look at my attachment. I've seen this on many fractional notes (usually the Washington 3c, 5c and 10c) and I can not find any explaination for it. I initially thought the guy I bought it from had marked it and ruined it. My logic tells me that maybe they stamped them this way to cancel them, does anyone actually know?

 

Thanks. 893whatthe.gif

1243197-1863_10cFractFront.JPG.c10b93b9b5b072eefdfd22e8a384e115.JPG

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Well it's going to depend on Friedberg type and of course grade.Probably the best way to learn about Fractional currency is to read as much as you can on the subject.One book which is one of the best is "A Collector's Guide to Postage and Fractional Currency by Robert J.Kravitz.Another way is by this website it's very informative with a price guide.Here is site http://www.myfractionalnotes.com/

Hope this helps.

BankNote

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