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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]
Paper money was first established as United States currency from the problems during the Civil War, created with distinct characteristics, then argued over during and after the war. The Union and the Confederacy had issues that pushed it into printing paper money.
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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.
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.
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 ...Confederate currency during the Civil War was anything but uniform -- it had various designs, numerous issuers, and was redeemable for payment in different ways. The Confederate Treasury printed bank notes. And individual states and cities issued their own paper currency, too.
Jan 31, 2022 · Confederate Currency. A $2 note from the Monticello Bank featuring a three-masted sailing vessel. Photo: DHR. The South also printed paper currency. In fact, it was the only type of currency issued within the Confederate States during the Civil War.
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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.
