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Confederate Treasury Notes were ultimately issued in 50¢, $1, $2, $5, $10, $20, $50, $100, $500, and $1,000 denominations with a variety of designs, issuers, and redeemable obligations. The amount of currency issued under the various acts of the Confederate Congress totaled $1 .7 billion.
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$100 Virginia, 1862 $1,000 Confederate States of America note is one of 607 issued and features images of John C. Calhoun on the left and Andrew Jackson on the right. Almost all of the Montgomery issued notes were signed by hand by Alex B. Clitherall, Register, and E.C. Elmore, Treasurer,1861
During the first seven weeks of the Civil War, the U.S. Post Office still delivered mail from the seceded states. Mail that was postmarked after the date of a state's admission into the Confederacy through May 31, 1861, and bearing U.S. (Union) postage is deemed to represent 'Confederate State Usage of U.S. Stamps'. i.e., Confederate covers franked with Union stamps. [4]
During the American Civil War, Confederate currency included $500 and $1,000 notes. [7] The earliest (1861) federal banknotes included high-denomination notes such as three-year interest-bearing notes of $500 , $1,000 , and $5,000 , authorized by Congress on July 17, 1861. [ 8 ]
After the New York banks suspended specie payments (quickly followed by Boston and Philadelphia) [11] the premium on gold rose from 1–3% over paper in early January 1862 to 9% over paper in June 1862, [10] by which time one paper dollar was worth 91.69 cents in gold. [10]
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]