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The obverse of the Civil War Battlefields commemorative dollar, designed by Don Troiani, features an infantryman raising a canteen to the lips of a wounded foe. The reverse, designed by John Mercanti , features a quotation from Joshua Lawrence Chamberlain , the college professor from Maine who became one of the heroes of Gettysburg .
By the war's end, a cake of soap could sell for as much as $50, and an ordinary suit of clothes was $2,700. [7] Near the end of the war, the currency became practically worthless as a medium of exchange. This was because, for the most part, Confederate currency was bills of credit, as in the Revolutionary War, not secured or backed by any assets.
^β Some Modern United States commemorative coins are minted in this denomination. ^γ The United States government claims that it never officially released the 1933 double eagle. Examples of the coin were minted in that year, but were never released to circulation following Executive Order 6102.
Civil War-era coins made big headlines over the summer when a Kentucky man unearthed hundreds of lost gold coins and became about $2 million richer because of it. His discovery, made in a ...
Gary and Brad find a nail, a belt buckle, and a Confederate coin while in the basement, the GPR indicates the possibility of a tunnel. They remove the bricks and dig down, finding wood about 3 ft (1 m) down. Eventually they locate a coin in the hole about 4 ft (1 m) down.
Before the Civil War, the United States used gold and silver coins as its official currency. Paper currency in the form of banknotes was issued by privately owned banks, the notes being redeemable for specie at the bank's office. Such notes had value only if the bank could be counted on to redeem them; if a bank failed, its notes became worthless.
Fractional currency, also referred to as shinplasters, was introduced by the United States federal government following the outbreak of the Civil War. These low- denomination banknotes of the United States dollar were in use between August 21, 1862, and February 15, 1876, and issued in denominations of 3, 5, 10, 15, 25, and 50 cents across five ...
Foreign coins, including the Spanish dollar, were also widely used [9] as legal tender, until 1857. With the enactment of the National Banking Act of 1863—during the American Civil War—and its later versions that taxed states' bonds and currency out of existence, the dollar became the sole currency of the United States and remains so today.