Four folders of items resembling money have been included in this Collection. These are receipts, merchandising coupons, advertisements made to look like money, stock certificates, and promissory notes. The Confederate States of America spewed forth an ever-increasing amount of paper currency which eventually engulfed the economy of the South and drowned it.
The Confederate Constitution, unlike that of the United States, did not limit the right to issue paper currency to the central government. Thus a mass of different governments and private agencies contributed to the paper confusion of the Southern economy. States, municipalities, banks, railroads, and businesses all competed with the Confederate government in the issuance of currency.
Also no coins were minted in the South so paper money, including fractional currency, was needed to meet the demands of all financial transactions. The Confederacy began issuing paper money immediately after secession from the Union. Its financial policy considered paper money not only as a medium of exchange, but as a means of war finance.
Guide to the American Paper Currency Collection
Confederate notes were not legal tender and payable on demand. At first the money was reasonably strong, but as the war continued and the outlook for the South became bleak, paper money lost its value and tremendous inflation began. Peace with the North was never ratified; the bills never fell due; and by Confederate currency was totally worthless. It was the worst case of inflation in American history. As paper money became more and more inflated the Confederacy printed greater quantities of bills, flooding the South with currency.
Printing, which was of rather high quality at the beginning of the war deteriorated and the color, clarity, and paper declined also. With the outbreak of hostilities, however, the business was transferred south and private firms began production of Confederate currency since there was no government printing office.
The usual technique was lithography. After Appomattox, Confederate currency became, in the words of one poet: Many people threw it out or burned it, but others did keep some in attics and drawers. Trainloads of currency were captured by the Union Army and sent to Washington where it was put in storage. By the late nineteenth century the first part of this rhyme was no longer true as Confederate currency again became valuable when collectors began to gather the notes. Now its value is based not on denomination but on rarity.
The last lines of the above verse remain valid because Confederate currency has become a graphic illustration of American history. This aspect of Confederate currency was discerned in the early twentieth century by the Treasury department, which cleaned out its store rooms and sent packets of money to educational institutions all over the country for use in history teaching.
Some of the currency in this Collection came from that source. A glance through the bills in Series II of this Collection is a brief trip through the history of the Confederacy. Statesmen and heroes appear on the bills beginning with national figures like Calhoun and Washington and Jackson and moving on to Southern statesmen like Jefferson Davis, Alexander Stephens, and J. Even a Southern lady, Lucy Pickens is found on a few issues.
Another favorite theme of Confederate currency was war -- artillery and naval and battle scenes are found. The cornerstones of Southern life--cotton and slavery appear also. Other common subjects are industry, transportation, mythology, and public edifices. The character of the Old South and the short-levied Confederacy come alive through its money. Counterfeiting was rampant during the Civil War in the South. The multiplicity of bills, issuing agencies and signers made it extremely easy to pass bogus currency. The poor quality of the printing and paper by the end of the war also made it easier to produce acceptable fakes.
The North contributed to the confusion by making copies of Confederate currency, many of which found their way south. Upham in Philadelphia printed the most famous of these bills. Perhaps the markings were so large that they were not immediately noticed. Their detection, however, is left to the expert and unless obviously bogus, even to the untrained eye, all bills have been treated as genuine.
Criswell lists seventy-two types of Confederate notes with an immense number of sub-varieties and permutations. This Collection contains examples of 52 major types and a large number of sub-types, series, and variations to give a total of one hundred and forty three different bills and, including duplicates, individual pieces. The Confederate government also issued bonds to finance the War. Seven of these will be found in Series II of this Collection. All eleven states of the Confederacy issued their own money since this was not prohibited under the Constitution.
In addition many local government units also issued paper currency note: The states made their bills legal tender even though this was prohibited by the Constitution. This led to a proliferation of currencies and added to the monetary confusion of the South. The type of currency differed from place to place.
This similarity is to be expected since the same printers produced state and national currency. This Collection contains examples of currency issued by eight of the states of the Confederacy. The states not represented are those whose currency is rare, largely for historical reasons. In addition to these eight states, the Collection also contains defense bonds and notes issued by the secessionist government of Missouri.
Although the state never officially left the Union, a separatist government in its southern counties issued paper money. These bills are normally classified as Confederate. In all, this Collection contains 49 different pieces of money issued by the states of the Confederacy. The inventory of materials in this collection is organized in the following manner.
Series I, folders contain colonial currency. Folders hold currency issued by the Continental Congress while folders contain notes issued by the individual colonies. Each folder contains material from only one colony and the folders are arranged alphabetically by colony. Within the folders the money is arranged chronologically in a pattern shown at the beginning of the checklist.
Confederate States dollar
Folder 22, Series I, is devoted to paper money issued by the United States government. The items are organized according to the design number assigned by Robert Friedberg. Folders contain private issues. The folders are arranged alphabetically by state.
Within the folders the notes are arranged alphabetically first by city of issue, then by issuing agency, and finally numerically by denomination. Series II contains Confederate currency. This money has been collated against the checklist of Grover C. Folders contain notes issued by the individual Confederate states.
The folders are arranged alphabetically by state and the currency within them follows the Criswell pattern. All are Richmond, Virginia issues except for 4 copies of bonds issued at Montgomery, Alabama. This group is arranged by the type number of the checklist by Grover C. It adds 74 new sub-types to the collection which Vol. II does not contain marked with asterisk in the checklist. Reference information taken from, Criswell, Grover C. I, 1st revised ed. Confederate and Southern States Currency. Paper Currency Series II: Confederate States of America Subseries 1: June 1, -- 10s.
June 1, -- 15s. June 1, -- 20s. January 1, -- 18d. January 1, -- 5s. January 1, -- 10s. May 1, -- 6s. October 1, -- 15s. July 14, -- 20s. December 31, -- 3s. December 31, -- 15s. March 25, -- 6s. March 25, -- 15s.
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The Confederate half dollar die went missing during the s and has not been seen since. Popular stories claim one of the Confederate half dollars was given to Confederate President Jefferson Davis. This story has no basis in fact. It is very possible that the coin was a gold so-called Jefferson Davis dime struck at the Paris France Mint, which Davis described to coin dealer Ed Frossard in an letter.
All known Jefferson Davis dimes were struck in silver at the Paris Mint. The Davis letter is the only known reference to a gold specimen, which was likely a special presentation piece made for Davis. Bills were released in 72 different note "types" in seven "series" from through Since there were many types of Confederate notes as well as notes issued by the states of the Confederacy, and since banks could issue their own notes, counterfeiting was a major problem for the Confederacy.
Many of these contemporary counterfeits are identifiable today and they can be as valuable to a collector as a real note. Confederate dollars and coins remain the subject of a lively trade, with careful grading of damage and deterioration similar to booksellers' gradings. From Wikipedia, the free encyclopedia. This infobox shows the latest status before this currency was rendered obsolete. The single reference citation applies to all information in the cell. The paper quality and printing technique is noticeably inferior to the prior First Series.
Retrieved January 20, Confederacy, 5 Dollars, ". Confederacy, 10 Dollars, ". Retrieved November 19, United States currency and coinage. Currencies named dollar or similar. Chinese yuan Ethiopian birr Malaysian ringgit. Eurodollar Petrodollar Geary—Khamis dollar. Linden dollar Project Entropia Dollar. Combatants Theaters Campaigns Battles States. Army Navy Marine Corps. Chronology of military events in the American Civil War.
Smith Stuart Taylor Wheeler. Reconstruction amendments 13th Amendment 14th Amendment 15th Amendment. Taney Monument Robert E. Confederate Memorial Day Ladies' memorial associations U. Presidential Election of War Democrats. Retrieved from " https: Use mdy dates from December All articles with unsourced statements Articles with unsourced statements from May Articles with unsourced statements from February All articles with specifically marked weasel-worded phrases Articles with specifically marked weasel-worded phrases from December Articles with unsourced statements from August Articles with unsourced statements from September Views Read Edit View history.
Confederate States of America. Part of the American Bank Note Company. Southern branch of the American Bank Note Company. Louis Hoyer and Charles Ludwig, in operation — Some were stolen and entered circulation with forged signatures. Originally from Kentucky, Duncan moved to Richmond at the invitation of Christopher Memminger to open a paper mill and printing plant.
A lithographic firm specializing mainly in CSA stocks and bonds. Minerva , railroad National Bank Note Company 1, issued . Slaves working in the field National Bank Note Company 1, issued . Stephens , Industry between Commerce and beehive B. Hunter left ; Alfred L.
Hunter left ; Hope ; C. Slave picking cotton; canal B.
Guide to the American Paper Currency Collection 1748-1899
Duncan Richmond, VA , issued . Memminger ; Sailor seated ; Justice and Ceres B. Duncan Richmond, VA 1,, issued . Benjamin ; The South striking down the Union B. Milkmaid ; train with diffused steam J. Liberty; Steamship at sea; Lucy Pickens B. Hunter Test pattern or fantasy note . Hunter Test pattern or fantasy note . Soldiers; Lucy Pickens ; George W. Tennessee State Capitol ; Alexander H.