Colonial Currency

The Confederate States of America currency 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. more...

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Notes were ultimately issued in $.10, $.50, $1, $2, $5, $10, $20, $50, $100, $500, and $1000 denominations with a variety of designs, issuers and redeemable obligations. The total 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" between 1861 and 1865.

At first, Confederate currency was accepted throughout the South as a medium of exchange with high purchasing power. As the conflict 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. The inevitable result was depreciation of the currency, and soaring prices characteristic of inflation. For example, by the end of the conflict, a cake of soap could sell for as much as $50 and an ordinary suit of clothes was $2,700. By war's end, the currency became virtually worthless as a medium of exchange.

Owing to the vast number of Confederate notes and varietals, not to mention the fact that Southern states and banks could issue their own notes, counterfeiting was a major problem for the Confederacy. The average Southern citizen would be hard pressed to tell a real note from a fake. Many of these contemporary counterfeits are known today and can be worth as much to a collector as a real note.

Designs

The South, 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. Southern themes did prevail with designs of African-American laborers, naval ships, and historical figures, including George Washington.

Since most of the engravers and bank plates were in the North, Southern 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.

Later note issues pictured notable Southern politicians, military leaders, and citizens. Some Southerners who appeared on CSA currency included Jefferson Davis, Alexander Stephens, Lucy Pickens, George Randolph, and Stonewall Jackson.

Signatures

C.S.A. notes were hand signed, with exception to 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 clerks were often hired to sign "for Register" and "for Treasurer"; up to 200 clerks were eventually hired for each.

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