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TeachMeFinance.com - explain Shinplaster historic definition... Shinplaster -- A colloquial name for the fractional paper currency issued by the government during the Civil War to serve as small change during the suspension of specie payments. The shinplaster was fiat money ; it is out of circulation. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.