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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.
The bill was passed into law on February 14, 1861 effecting such transfer of employment. On March 9, 1861 the Provisional Congress authorized the printing of Confederate currency, in the form of paper treasury notes, amounting up to a total of $1 million (CSA). [3]
The '5 cent bill from 1861 was among the smallest denomination bills printed during the confederacy of North Carolina. It was also one of the smallest physical bills, measuring approximately 3" by 1 5/8". [citation needed]. By 1863 barter was replacing currency and a tenpenny nail was used in place of this note. [1]
Just like coin collectors, paper bill collectors also know that these can be extremely valuable. And if you have old Confederate bills stashed away, their value could surprise you -- and it might ...
The Act of March 9, 1861 passed by the Congress of the Confederate States authorized the issue of $1,000,000 in Confederate banknotes, followed by an additional $1,000,000 in August, 1861. Seven series of banknotes were authorized for $678,000,000, but just over $1.5 billion was actually issued.
Issued loans accounted for roughly 21% of the finance of Confederate war expenditure. [4] Initially the South was more successful in selling debt than the North, [2] partially because New Orleans was a major financial center. Its financiers bought up two-fifths of a 15 million dollar loan in early 1861. [8]
These initial bills were referred to as “large-size legal tender bills.” Today, one of these can fetch a price of more than $75,000, according to a high-grade 2018 example sold via Heritage ...
The United States twenty-dollar bill (US$20) is a denomination of U.S. currency. A portrait of Andrew Jackson , the seventh U.S. president (1829–1837), has been featured on the obverse of the bill since 1928; the White House is featured on the reverse.