Original: $595.00
-70%$595.00
$178.50The Story
Original Items: Only One Lot Available. 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 for 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.
The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000. 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 enslaved Africans 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.
This is a great lot of seven notes, including one piece of fractional currency. Some of the bills are “Cutout Cancelled”, done typically by the issuing bank or authority, to invalidate it as legal tender. They include:
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, November 1863.
- Confederate 5 Dollar Bill, Cut-cancelled. Bank of Richmond, April 1863.
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, June 1863.
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, October 1863.
- Confederate 10 Dollar Bill, 4th Series, good shape. September 1861.
- Virginia Treasury Note, 1 Dollar. July 1862. Richmond.
- Confederate 50 Cent Fractional currency note. Richmond, February 1864.
This is a wonderful assortment of items that come ready for further research and display!
Details & Craftsmanship
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Description
Original Items: Only One Lot Available. 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 for 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.
The first series of Confederate paper money, issued in March 1861, bore interest and had a total circulation of $1,000,000. 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 enslaved Africans 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.
This is a great lot of seven notes, including one piece of fractional currency. Some of the bills are “Cutout Cancelled”, done typically by the issuing bank or authority, to invalidate it as legal tender. They include:
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, November 1863.
- Confederate 5 Dollar Bill, Cut-cancelled. Bank of Richmond, April 1863.
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, June 1863.
- Confederate 10 Dollar Bill, 2nd Series, Cut-cancelled. Bank of Richmond, October 1863.
- Confederate 10 Dollar Bill, 4th Series, good shape. September 1861.
- Virginia Treasury Note, 1 Dollar. July 1862. Richmond.
- Confederate 50 Cent Fractional currency note. Richmond, February 1864.
This is a wonderful assortment of items that come ready for further research and display!
