Confederate States dollar

The Confederate States dollar was first issued just before the outbreak of the American Civil War by the newly formed Confederacy. It was not backed by hard assets, but simply by a promise to pay the bearer after the war, on the prospect of Southern victory and independence. As the Civil War progressed and victory of the South seemed less and less likely, its value declined. After the Confederacy's defeat, its money had no value, and both individuals and banks lost large sums.

Confederate States dollar
$1,000 depicting Calhoun and Jackson
$50 depicting Jefferson Davis
Denominations
Subunit
 1/100cent
Symbol$ or C$
 cent¢
Banknotes50¢, $1, $2, $5, $10, $20, $50, $100, $500, $1000
Coins50¢, $20, 1¢
Demographics
User(s) Confederate States of America
This infobox shows the latest status before this currency was rendered obsolete.

The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000.[1] As the war began to tilt against the Confederates, confidence in the currency diminished, and the government inflated the currency by continuing to print the unbacked banknotes. By the end of 1863, the Confederate dollar (or "Greyback", to distinguish it from the then-new "Greenback" paper US dollar, which was likewise put into circulation during the war) was quoted at just six cents in gold, and fell further still.

The Greyback is now a prized collector's item, in its many versions, including those issued by individual states and local banks. The various engravings of leading Confederates, gods and goddesses, trains, ships and Southern workers on these hastily printed banknotes, sometimes cut with scissors and signed by clerks, continue to stimulate debate among antique dealers, with even some of the counterfeit notes commanding high prices.

Background

The Confederate dollar, often called a "Greyback", was first issued into circulation in April 1861, when the Confederacy was only two months old, and on the eve of the outbreak of the Civil War.

At first, Confederate currency was accepted throughout the South as a medium of exchange with high purchasing power. As the war progressed, however, confidence in the ultimate success waned, the amount of paper money increased, and their dates of redemption were extended further into the future.[2] Most Confederate currency carried the phrase across the top of the bill: "SIX MONTHS AFTER THE RATIFICATION OF A TREATY OF PEACE BETWEEN THE CONFEDERATE STATES AND THE UNITED STATES" then across the middle, the "CONFEDERATE STATES OF AMERICA WILL PAY [amount of bill] TO BEARER" (or "...WILL PAY TO BEARER [amount of bill]" or "...WILL PAY TO BEARER ON DEMAND [amount of bill]").

As the war progressed, the currency underwent the depreciation and soaring prices characteristic of inflation. For example, when news of the Confederate defeat at Gettysburg reached the public, the Confederate currency depreciated 20%.[3] Confederate President Jefferson Davis asked private citizens to restore the value of the Confederate dollar by mutually agreeing to sell and buy items only at reduced prices.[4] In October 1863, Confederate States Senator Louis Wigfall of Texas said that a Confederate soldier received $11 per month in pay, which was worth the same as $1 had been worth at the beginning of the war.[4] In September 1864, one Confederate dollar was worth the same as three cents of United States currency.[5] People tried to retain their wealth by buying gold to such an extent that, in Richmond, it was impossible to find someone who would sell their gold.[5] At Christmas 1864, the Confederate dollar's worth had decreased to such an extent that a turkey sold for $155 and a ham for $300.[6] By the war's end, a cake of soap could sell for as much as $50, and an ordinary suit of clothes was $2,700.[7]

Near the end of the war, the currency became practically worthless as a medium of exchange. This was because, for the most part, Confederate currency were bills of credit, as in the Revolutionary War, not secured or backed by any assets. The only two exceptions were in Mississippi, where in 1862 a series of notes were issued with the backing of cotton stored by the state's planters and in Florida, where notes were backed, in theory, by public lands.[8] Just as the currency issued by the Continental Congress was deemed worthless (witness the phrase "not worth a Continental;" and see The Federalist Papers, which also addressed this issue in the run-up to the ratification of the U.S. Constitution) because they were not backed by any hard assets, so, too, this became the case with Confederate currency. Even though both gold and silver may have been scarce, some economic historians have suggested that the currency would have retained a relatively material degree of value, and for a longer period of time, had it been backed by hard goods the Confederacy did have, perhaps such as cotton, or tobacco. When the Confederacy ceased to exist as a political entity at the end of the war, the money lost all value as fiat currency.

Designs
Slaves working in the field. From a $100 C.S. banknote.

The Confederacy, being limited in skilled engravers and printers as well as secure printing facilities, often had to make do with unrelated designs in early banknote issues. Some such were abstract depictions of mythological gods and goddesses, such as the Goddess of Liberty. Confederate themes typically showed naval ships and historical figures, including George Washington. Images of slaves depicted everyday work scenes, although of the 72 notes issued by the Confederate States of America only 5 designs actually depicted slaves.

Since most of the engravers and bank plates were in the Northern states, Confederate printers had to lift by offset or lithographic process scenes that had been used on whatever notes they had access to. Many variations in plates, printing and papers also appear in most of the issues, due in large part to the limits on commerce resulting from the Union embargo of Confederate ports.

People featured on banknotes include Andrew Jackson, John C. Calhoun, Christopher Memminger, Robert M. T. Hunter, Alexander H. Stephens, Jefferson Davis, Judah P. Benjamin, Clement Clay, George W. Randolph, and Lucy Holcombe Pickens, the wife of the Governor of South Carolina.[9][10][11][12][13] There was also a bill featuring George Washington.[14]

Signatures

Confederate Treasury Notes were hand signed by various clerks, with exception of the 50 cent issues that had the printed signatures of Robert Tyler and Edward C. Elmore. The first six notes issued were hand signed by the Register and Treasurer themselves. While hand signatures were considered an anti-counterfeiting tool, the sheer number of bills being produced could not reasonably be signed individually by two men each. Women were often hired as clerks to sign "for Register" and "for Treasurer"; up to 200 clerks were eventually hired for each.

Coinage
1861 1¢ Original Confederate Cent

As the Civil War continued, the cost of the war loomed large. Any precious metals available in the South often made their way to Europe to procure war goods. But the CSA did manage to mint a few coins. In 1861, Robert Lovett Jr. of Philadelphia was commissioned to design, engrave and make a one cent piece for the Confederacy. On the obverse (front), he used the head of Minerva (French Liberty Head), which he had used on several store cards. The coins were struck using the then Federal standard of cupronickel for cent pieces. He made a few samples, of which only 12 are said to exist by the popular stories but research has shown that 14 are currently known to exist. Fearing prosecution for aiding the enemy, he stopped his work and hid the coins and dies in his cellar. The original dies were purchased later and used to make restrikes, first by John W. Haseltine and later by Robert S. Bashlow. The dies were donated to the Smithsonian Institution by Bashlow in 1962.

1861 50¢ Original Confederate Half Dollar reportedly belonging to CSA President Jefferson Davis.

In the aftermath of secession, the Confederacy seized U.S. Mint facilities at Charlotte, North Carolina, Dahlonega, Georgia, and New Orleans, Louisiana. After seizing and appropriating the bullion reserves stored at the facilities, the Confederate Treasury, led by C. G. Memminger, determined that the cost of minting coins far outweighed the benefits. Circulating specie would be virtually nonexistent in the Confederacy throughout the entirety of the war. A wide variety of local token and scrip would attempt to fill this void, to little avail.

In late April 1861, four Confederate half dollars were struck on a hand press by certain employees of the New Orleans Mint. Because of the high relief of the coin die, a test striking was made to see if coins would release from the Confederate die. The die was made by a printing plate engraver (A.H.M. Peterson) in New Orleans who was unfamiliar with techniques required to engrave coining dies. These coins were struck using a U.S. obverse die (Seated Liberty) and the Confederate die made by Peterson. These coins are known as originals, and the location of all four of the coins is known today.

As the result of an 1879 article about the Confederate cent printed in a New York City newspaper, Benjamin F. Taylor, M.D. (Chief Coiner, New Orleans Mint, CSA) contacted coin dealer Ebenezer Mason. Taylor informed Mason of the existence of the Confederate half dollar and the die. Mason bought the die and coin from Taylor and sold them to J.W. Scott Co. of New York City, a coin and stamp dealer. Scott bought 500 1861 United States half dollars from a New York bank that were supposedly struck at the New Orleans Mint. Scott had the reverse of the half dollars planed down and performed a one-sided strike using the Confederate half dollar die. The Seated Liberty obverse of the coins were flattened some because of the one-sided strike. In addition, Scott struck 500 half dollar sized tokens in white metal using the Confederate die and a newly made die to commemorate the restrikes of the Confederate half dollars. The Confederate half dollar die went missing during the 1920s 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. In an 1879 letter to Ebenezer Mason, Davis confirmed that a Union soldier (actually a Federal Officer) stole a coin from one of his wife’s trunks, but could not confirm that it was like the then known Confederate half dollar. 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 1880 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.

Banknotes

Confederate Treasury Notes (banknotes) were ultimately issued in 50¢, $1, $2, $5, $10, $20, $50, $100, $500 and $1,000 denominations with a variety of designs, issuers and redeemable obligations. The amount of currency issued under the various acts of the Confederate Congress totaled $1.7 billion. Bills were released in 72 different note "types" in seven "series" from 1861 through 1864.

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.[15]

Confederate dollars and coins remain the subject of a lively trade, with careful grading of damage and deterioration similar to booksellers' gradings.

Series of CSA notes
Series and authorizing acts Confederate States dollar banknotes (1861–1864)
Series Authorization Amount Denominations Comments
First[16] Act of March 9, 1861
Amended August 3, 1861		 $1,000,000 (i)
$1,000,000 (ii)		 $50, $100, $500, $1000 (i)
$50, $100 (ii)		 Interest bearing at 3.65%, payable twelve months after date.
Second[17] Act of May 16, 1861 $20,000,000 $5, $10, $20, $50, $100 No interest, payable two years after date.
Third[18] Act of August 19, 1861
Amended December 24, 1861		 $100,000,000 (i)
$50,000,000 (ii)		 $5, $10, $20, $50, $100 Funded by 8% bonds, payable six months after a treaty/peace between the U.S. and CSA
Fourth[19] Act of April 17, 1862
Amended September 23, 1862		 $170,000,000 (i)
$5,000,000 (ii)		 $1, $2, $10, $20, $100 Introduced $1 and $2 notes, and $100 interest-bearing notes (2 cents per day)
Fifth[20] Act of October 13, 1862 $90,000,000[n 1] $1, $2, $5, $10, $20, $50, $100 Payable six months after ratification of a treaty. Lower denominations issued on pink paper.
Sixth[22] Act of March 23, 1863 $50,000,000[n 2] 50¢, $1, $2, $5, $10, $20, $50, $100 Payable two years after ratification of a treaty.
Seventh[24] Act of February 17, 1864 $200,000,000[n 3] 50¢, $1, $2, $5, $10, $20, $50, $100, $500 Payable two years after ratification of a treaty.

Banknote printers and engravers
Printers and engravers of
Confederate States dollar banknotes (1861–1864)
Engraver/Printer Location Types printed Comments
National Bank Note Company New York, NY 1–4 Part of the American Bank Note Company
Southern Bank Note Company New Orleans, LA 5, 6, 15, 19, 22, 31 Southern branch of the American Bank Note Company.[26]
Hoyer & Ludwig Richmond, VA 7–11, 13–14, 17–18, 27–28, 35–36, 46 Louis Hoyer and Charles Ludwig, in operation 1861–64.[27]
Jules Manouvrier New Orleans, LA 12 Lithographer, contracted to print $10 CSA notes. Some were stolen and entered circulation with forged signatures. Contract cancelled.[28]
Leggett, Keatinge & Ball Richmond, VA 23, 24, 32, 33 Edward Keatinge (formerly a portrait engraver with the Southern Bank Note Company) joined Leggett & Ball shortly after the Civil War began. Leggett was forced out after being accused of spying for the Union, and the company became Keatinge & Ball.[29]
Keatinge & Ball Columbia, SC
Richmond, VA		 16, 21, 25, 26, 34, 41, 49–62, 64–71 In 1862, Keatinge & Ball moved to Richmond.[29]
Blanton Duncan Columbia, SC
Richmond, VA		 20, 29, 30, 37, 38, 42–45 Originally from Kentucky, Duncan moved to Richmond at the invitation of Christopher Memminger to open a paper mill and printing plant.[30]
J.T. Patterson Columbia, SC 28, 36, 39, 40,
Archer & Daly Richmond, VA 63 A lithographic firm specializing mainly in CSA stocks and bonds.[31]
Archer & Halpin Richmond, VA 72

Complete typeset of CSA banknotes
A complete typeset of the Confederate States dollar banknotes (1861–1864)
Series/Date Type[n 4] Value Image Comments[n 5]
1First Series
 T–1
5 Apr 1861
21 Jun 1861		 1000$1,000 John C. Calhoun, Andrew Jackson
National Bank Note Company
(607 issued)[34]
T–2
8 Apr 1861
23 Jul 1861		 0500$500 Ceres,The Crossing (by James Smillie)
National Bank Note Company
(607 issued)[35]
T–3
5 Apr 1861
21 Jun 1861		 0100$100 Minerva, railroad
National Bank Note Company
(1,606 issued)[36]
T–4
5 Apr 1861
21 Jun 1861		 0050$50 Slaves working in the field
National Bank Note Company
(1,606 issued)[37]
T–5
25 Aug 1861
23 Sep 1861		 0100$100 Justice, Hudson River Railroad, Minerva
Southern Bank Note Company
(5,798 issued)[38]
T–6
25 Aug 1861
23 Sep 1861		 0050$50 Justice, Agriculture and Industry, George Washington
Southern Bank Note Company
(5,798 issued)[39]
2Second Series
 T–7
29 Jul 1861
22 Oct 1861		 0100$100 George Washington, Ceres and Proserpina
Hoyer & Ludwig (Richmond, VA)
(37,155 issued)[40][n 6]
T–8
29 Jul 1861
22 Oct 1861		 0050$50 Tellus, George Washington
Hoyer & Ludwig (Richmond, VA)
(123,564 issued)[42]
T–9
25 Jul 1861
26 Oct 1861		 0020$20 Sailing ship
Hoyer & Ludwig (Richmond, VA)
(264,988 issued)[43]
T–10
25 Jul 1861
2 Nov 1861		 0010$10 Liberty (seated), Liberty (leaning on shield)
Hoyer & Ludwig (Richmond, VA)
(170,994 issued)[44]
T–11
29 Jul 1861
7 Sep 1861		 0005$5 Sailor (leaning), Liberty (seated)
Hoyer & Ludwig (Richmond, VA)
(73,355 issued)[45]
T–12 0005$5 "Confederate States of America"
Jules Manouvrier (New Orleans, LA)
(15,556 issued)[46]
3Third Series
 T–13
22 Oct 1861
16 Apr 1862		 0100$100 Sailor (standing), slaves loading cotton
Hoyer & Ludwig (Richmond, VA)
(629,284 issued)[47]
T–14
22 Oct 1861
16 Apr 1862		 0050$50 Sailors, Moneta with treasure chest
Hoyer & Ludwig (Richmond, VA)
(469,660 issued)[48]
T–15
8 Jan 1862
15 May 1862		 0050$50 Hope, Hudson River Railroad, Justice
Southern Bank Note Company
(14,860 issued)[49]
T–16
17 Apr 1862
10 Dec 1862		 0050$50 Jefferson Davis
Keatinge & Ball (Richmond, VA)
(425,944 issued)[50]
T–17
14 Sep 1861
5 Nov 1861		 0020$20 Liberty, Ceres between Commerce and Navigation
Hoyer & Ludwig (Richmond, VA)
(43,732 issued) [51]
T–18
24 Oct 1861
16 Aug 1862		 0020$20 Sailor, Sailing ship
Hoyer & Ludwig (Richmond, VA)
(2,366,486 issued)[52]
T–19
8 Jan 1862
15 May 1862		 0020$20 Minerva, Navigation, Blacksmith
Southern Bank Note Company
(14,860 issued)[53]
T–20
21 Jun 1862
8 Dec 1862		 0020$20 Alexander H. Stephens, Industry between Commerce and beehive
B. Duncan (Columbia, S.C.)
(2,834,251 issued)[54]
T–21
28 Jun 1862
15 Nov 1862		 0020$20 Alexander H. Stephens
Keatinge & Ball (Columbia, S.C.)
(164,248 issued)[55]
T–22
13 Nov 1861
15 May 1862		 0010$10 Thetis, Native Americans, Female with X
Southern Bank Note Company
(58,860 issued)[56]
T–23
15 Nov 1861
30 Dec 1861		 0010$10 John E. Ward, Wagon of cotton, Corn gatherer
Leggett, Keatinge & Ball (Richmond, VA)
(20,333 issued)[57]
T–24
20 Feb 1862
8 Dec 1862		 0010$10 Robert M.T. Hunter (left); Alfred L. Elwin (vignette, as child)
Leggett, Keatinge & Ball (Richmond, VA)
(278,400 issued)[58]
T–25
12 May 1862
9 Aug 1862		 0010$10 Robert M.T. Hunter (left); Hope; C.G. Memminger
Keatinge & Ball (Richmond, VA)
(178,716 issued)[59]
T–26
12 Jul 1862
8 Dec 1862		 0010$10 Robert M.T. Hunter (left); Hope; C.G. Memminger
Keatinge & Ball (Richmond, VA)
(514,400 issued)[60]
T–27
26 Nov 1861
5 Dec 1861		 0010$10 Liberty; Train
Hoyer & Ludwig (Richmond, VA)
(8,576 issued)[61]
T–28
23 Jan 1862
13 Dec 1862		 0010$10 Ceres and Commerce; Train
Hoyer & Ludwig (Richmond, VA)
J.T. Patterson (Columbia, S.C.)
(1,074,980 issued)[62]
T–29
17 Mar 1862
13 Sep 1862		 0010$10 Slave picking cotton; canal
B. Duncan (Richmond, VA)
(286,627 issued)[63]
T–30
14 Jun 1862
3 Jan 1863		 0010$10 Robert M.T. Hunter (left); engraving of the painting General Marion Inviting a British Officer to Share His Meal by John Blake White; Minerva
B. Duncan (Columbia, S.C.)
(1,939,810 issued)[64]
T–31
13 Nov 1861
15 May 1862		 0005$5 Navigation; Commerce, Agriculture, Justice, Liberty, and Industry; George Washington statue
Southern Bank Note Company
(58,860 issued)[65]
T–32
15 Nov 1861
30 Dec 1861		 0005$5 Boy; Machinist with hammer
Leggett, Keatinge & Ball (Richmond, VA)
(20,333 issued)[66]
T–33
13 Mar 1862
19 Jun 1862		 0005$5 C.G. Memminger; Minerva
Leggett, Keatinge & Ball (Richmond, VA)
(136,736 issued)[67]
T–34
12 May 1862
8 Dec 1862		 0005$5 C.G. Memminger; Minerva
Keatinge & Ball (Richmond, VA)
(228,644 issued)[68]
T–35
26 Nov 1861
5 Dec 1861		 0005$5 Slaves load cotton; Indian princess
Hoyer & Ludwig (Richmond, VA)
(7,160 issued)[69]
T–36
31 Mar 1862
3 Jan 1863		 0005$5 Sailor; Commerce (seated)
Hoyer & Ludwig (Richmond, VA)
J.T. Patterson (Columbia, S.C.)
(3,694,890 issued)[70]
T–37
7 Apr 1862
13 Sep 1862		 0005$5 C.G. Memminger; Sailor (seated); Justice and Ceres
B. Duncan (Richmond, VA)
(1,002,478 issued)[71]
4Fourth Series
 T–38 0002$2 Judah P. Benjamin; The South striking down the Union
B. Duncan (Columbia, S.C.)
(~36,000 issued)[72]
T–39 0100$100 Milkmaid; train with straight steam
Hoyer & Ludwig (Richmond, VA)
J.T. Patterson (Columbia, S.C.)
(284,000 issued)[73]
T–40 0100$100 Milkmaid; train with diffused steam
J.T. Patterson & Co. (Columbia, S.C.)
(214,400 issued)[74]
T–41 0100$100 John C. Calhoun; Slaves working; Confederacy
Keatinge & Ball (Richmond, VA)
(670,400 issued)[75]
T–42 0002$2 Judah P. Benjamin; The South striking down the Union
B. Duncan (Columbia, S.C.)
(1,520,000 issued)[76]
T–43 0002$2 Judah P. Benjamin; The South striking down the Union
B. Duncan (Columbia, S.C.)
(194,900 issued)[77]
T–44 0001$1 Liberty; Steamship at sea; Lucy Pickens
B. Duncan (Columbia, S.C.)
(1,689,860 issued)[78]
T–45 0001$1 Liberty; Steamship at sea; Lucy Pickens
B. Duncan (Columbia, S.C.)
(412,500 issued)[79]
T–46 0010$10 Ceres; Robert M.T. Hunter
Hoyer & Ludwig (Richmond, VA)
(635,250 issued)[80]
T–47 0020$20 Ceres; Robert M.T. Hunter
Test pattern or fantasy note[81]
T–48 0010$10 Ceres; Robert M.T. Hunter
Test pattern or fantasy note[82]
5Fifth Series
 T–49 0100$100 Soldiers; Lucy Pickens; George W. Randolph
Keatinge & Ball (Richmond, VA)
(628,640 issued)[83]
T–50 0050$50 Jefferson Davis
Keatinge & Ball (Richmond, VA & Columbia, S.C.)
(414,200 issued)[84]
T–51 0020$20 Tennessee State Capitol; Alexander H. Stephens
Keatinge & Ball (Columbia, S.C.)
(776,800 issued)[85]
T–52 0010$10 Proposed state capitol (Columbia, S.C.); Robert M.T. Hunter
Keatinge & Ball (Columbia, S.C.)
(3,060,000 issued)[86]
T–53 0005$5 Virginia State Capitol; C.G. Memminger
Keatinge & Ball (Columbia, S.C.)
(2,833,600 issued)[87]
T–54 0002$2 Judah P. Benjamin
Keatinge & Ball (Columbia, S.C.)
(607,000 issued)[88]
T–55 0001$1 Clement Claiborne Clay
Keatinge & Ball (Columbia, S.C.)
(1,141,200 issued)[89]
6Sixth Series
 T–56 0100$100 Soldiers; Lucy Pickens; George W. Randolph
Keatinge & Ball (Columbia, S.C.)
(1,950,400)[90]
T–57 0050$50 Jefferson Davis
Keatinge & Ball (Richmond, VA and Columbia, S.C.)
(2,349,600 issued)[91]
T–58 0020$20 Tennessee State Capitol; Alexander H. Stephens
Keatinge & Ball (Columbia, S.C.)
(4,429,600 issued)[92]
T–59 0010$10 Proposed state capitol (Columbia, S.C.); Robert M.T. Hunter
Keatinge & Ball (Columbia, S.C.)
(7,420,800 issued)[93]
T–60 0005$5 Virginia State Capitol; C.G. Memminger
Keatinge & Ball (Columbia, S.C.)
(7,745,600 issued)[94]
T–61 0002$2 Judah P. Benjamin
Keatinge & Ball (Columbia, S.C.)
(689,200 issued)[95]
T–62 0001$1 Clement Claiborne Clay
Keatinge & Ball (Columbia, S.C.)
(1,645,600 issued)[96]
T–63 0000.50$0.50 Jefferson Davis
Archer & Daly (Richmond, VA)
(1,831,517 issued)[97]
7Seventh Series
 T–64 0500$500 Confederate seal and second national flag; Stonewall Jackson
Keatinge & Ball (Columbia, S.C.)
(~154,000 issued)[98]
T–65 0100$100 Soldiers; Lucy Pickens; George W. Randolph
Keatinge & Ball (Columbia, S.C.)
(~964,000 issued)[99]
T–66 0050$50 Jefferson Davis
Keatinge & Ball (Columbia, S.C.)
(1,671,444 issued)[100]
T–67 0020$20 Tennessee State Capitol; Alexander H. Stephens
Keatinge & Ball (Columbia, S.C.)
(~4,150,000 issued)[101]
T–68 0010$10 Horses pulling cannon; Robert M.T. Hunter
Keatinge & Ball (Columbia, S.C.)
(~9,071,000 issued)[102]
T–69 0005$5 Virginia State Capitol; C.G. Memminger
Keatinge & Ball (Columbia, S.C.)
(~5,526,100 issued)[103]
T–70 0002$2 Judah P. Benjamin
Keatinge & Ball (Columbia, S.C.)
(~944,000 issued)[104]
T–71 0001$1 Clement Claiborne Clay
Keatinge & Ball (Columbia, S.C.)
(~681,500 issued)[105]
T–72 0000.50$0.50 Jefferson Davis
Archer & Halpin (Richmond, VA)
(~1,100,000 issued)[106]

See also

Notes
  1. Despite the authorized amount, $138,000,000 was issued.[21]
  2. Despite the authorized amount, over $517,900,000 was issued.[23]
  3. Despite the authorized amount, over $400,000,000 was issued.[25]
  4. "T" numbers refer to the categorization system widely used in Confederate banknotes and denote major design changes.[32] Dates underneath "T" numbers (when available) indicate the beginning and end dates of issue for the particular note[33]
  5. Comments include the portraits or vignettes listed from left to right, the engraver and/or publisher of the note, and the number of notes issued. The single reference citation applies to all information in the cell.
  6. Federal authorities forbid the National Bank Note Company (and their affiliate Southern Bank Note Company) from printing currency for the Confederate States of America. The CSA turned to local lithographer Hoyer & Ludwig to print the next series of notes. The paper quality and printing technique is noticeably inferior to the prior First Series.[41]

References
  1. Friedberg, R., Friedberg, I. S., & Friedberg, A. (2017). Paper money of the United States: A complete illustrated guide with valuations (21st ed.). Williston, Vermont.: Coin and Currency Institute. Pg. 252
  2. "The Finances of the Rebel Confederacy". The New York Times. November 13, 1864. p. 4.
  3. Weidenmier, M. D. (2002). Turning Points in the U.S. Civil War: Views from the Grayback Market. Southern Economic Journal, 68(4), 875–890.
  4. "Flounderings of the Rebel Financiers". The New York Times October 16, 1863. p. 4.
  5. "Grant's Army: Gold Out of Sight in Richmond: Rebel Paper Absolutely Worthless". The New York Times. September 28, 1964. p. 5.
  6. "A Conferate Christmas: The Hard Lines of the Southerners in the Winter of '64". The Washington Post. January 2, 1881. p. 2.
  7. "Confederate Inflation Rates (1861 - 1865)".
  8. Shull, H. (2007) A Guide Book of Southern States Currency. Whitman Publishing LLC.
  9. "$1,000 1861 Confederate States of America Note". Pmgnotes.com. Retrieved January 20, 2012.
  10. "Virtual Gettysburg-Featured Confederate Currency-Criswell Type 45". Virtualgettysburg.com. Retrieved January 20, 2012.
  11. "NMAH | Legendary Coins & Currency: Confederacy, 5 Dollars, 1862". Americanhistory.si.edu. October 24, 2008. Retrieved January 20, 2012.
  12. "NMAH | Legendary Coins & Currency: Confederacy, 10 Dollars, 1863". Americanhistory.si.edu. October 24, 2008. Retrieved January 20, 2012.
  13. "Confederate Currency". Rebelstatescurrency.com. Retrieved January 20, 2012.
  14. "Type 8 confederate money 50.00 George Washington scarce Choice Unc". Deerrunmercantile.com. Archived from the original on February 4, 2010. Retrieved January 20, 2012.
  15. Rothman, Jordan. "A Pledge of a Nation: Charting the Economic Aspirations, Political Motivations and Consequences of Confederate Currency Creation" (PDF). Bir.brandeis.edu. Retrieved November 19, 2012.
  16. Fricke 2014, p. 121.
  17. Fricke 2014, p. 135.
  18. Fricke 2014, p. 167.
  19. Fricke 2014, p. 289.
  20. Fricke 2014, p. 353.
  21. Fricke 2014, p. 353.
  22. Fricke 2014, p. 397.
  23. Fricke 2014, p. 397.
  24. Fricke 2014, p. 469.
  25. Fricke 2014, p. 469.
  26. Hessler 1993, p. 296.
  27. Hessler 1993, p. 175.
  28. Hessler 1993, p. 212.
  29. Hessler 1993, p. 187.
  30. Hessler 1993, p. 107.
  31. Hessler 1993, p. 34.
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Bibliography
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  • "Seigniorage in the Civil War South. Explorations in Economic History". Explorations in Economic History. 72: 74–92. April 2019. doi:10.1016/j.eeh.2018.11.001.
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  • Fricke, Pierre. Collecting Confederate Paper Money - Field Edition 2014. ISBN 978-0-9844534-9-8.
  • Friedberg, Arthur L.; Friedberg, Ira S. (2013). Paper Money of the United States: A Complete Illustrated Guide With Valuations (20th ed.). Coin & Currency Institute. ISBN 978-0-87184-520-7.
  • Levi, Harold; Corell, George (2006). The Lovett Cent; a Confederate Story. Lulu.com. ISBN 978-1-84728-878-3.
  • Hessler, Gene (1993). The Engraver's Line – An Encyclopedia of Paper Money & Postage Stamp Art. ISBN 978-0-931960-36-9.
  • Matthews, James M. (1862). Public Laws of the Confederate States of America Passed at the First-Fourth Sessions of the Second Congress.
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