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In October 1863, Confederate States Senator Louis Wigfall of Texas said that a Confederate soldier received $11 per month in pay, which was worth the same as $1 had been worth at the beginning of the war. [4] In September 1864, one Confederate dollar was worth the same as three cents of United States currency. [5]
A 1795 Flowing Hair Dollar An 1804 Silver dollar 2 dollars, first November 1862. In the early 19th century, the intrinsic value of gold coins rose relative to their nominal equivalent in silver coins, resulting in the removal from commerce of nearly all gold coins, and their subsequent private melting.
In 1862, the greenback declined against gold until by December, gold had become at a 29% premium. By spring of 1863, the greenback declined further, to 152 against 100 dollars in gold. However, after the Union victory at Gettysburg , the greenback recovered to 131 dollars to 100 in gold.
The value of silver dollars can vary greatly, whether it’s the 1964 Kennedy half dollar or the 1922 silver dollar coin. And some rare specimens fetch astounding amounts at auctions.
The new U.S. silver dollar of 371.25 grains ... Paper money was issued again in 1862 without the backing of precious metals due to the ... Inflation value of dollar.
Despite its background, coin collectors can still get a big return from buying Presidential Dollars. Although most are worth no more than a few dollars, some are worth hundreds or thousands of ...
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