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Apr 19, 2024 · As the war dragged on, the Confederates continued printing currency to fund the war effort. This overprinting combined with the rising prices of goods, caused extreme inflation. A few months before the end of the Civil War, one Confederate dollar was equal to three cents in U.S. currency.
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.
Series/dateType [n 4]ValueImage1 First SeriesT–1 5 Apr 1861 21 Jun 18611000 $1,000John C. Calhoun, Andrew Jackson National ...1 First SeriesT–2 8 Apr 1861 23 Jul 18610500 $500Ceres, The Crossing (by James Smillie) ...1 First SeriesT–3 5 Apr 1861 21 Jun 18610100 $100Minerva, railroad National Bank Note ...1 First SeriesT–4 5 Apr 1861 21 Jun 18610050 $50Slaves working in a field National Bank ...May 3, 2021 · In late 1864, a few months before the war’s end, one Confederate dollar was worth just three cents in U.S. currency. When the Confederate army surrendered in April 1865, graybacks lost any...
- Robert Gudmestad
Jan 31, 2022 · Establishing a unique legal currency was a way to legitimize the fledgling Confederate government. However, unlike in the Northern states, the printing of currency in Southern states was poorly regulated. Every Confederate state, along with many local governments, issued their own currency.
Civil War Currency. Confederate States of America, 10 dollars, 1864 ; Recto. During the early days of the Civil War, the U.S. Treasury issued ‘Demand Notes’ in denominations of fives, tens, and twenties.
On March 9, 1861, the CSA authorized a national currency. Between 1861 and 1865, the new government issued Confederate currency on eight separate occasions. Each issuance pumped millions of dollars into circulation. Counterfeiters added to the deluge with freshly made fakes.
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Greenbacks were emergency paper currency issued by the United States during the American Civil War that were printed in green on the back. [1] They were in two forms: Demand Notes, issued in 1861–1862, [1] and United States Notes, issued in 1862–1865. [2]
