Confederate Currency,

Access and use

Location of collection:
Virginia Polytechnic Institute and State University
Special Collections, University Libraries (0434)
Newman Library
Virginia Tech
P.O. Box 90001
560 Drillfield Drive
Blacksburg, VA 24062-9001
Contact for questions and access:
Phone: (540) 231-6308
Fax: (540) 231-3694
Restrictions:

Collection is open for research.

Terms of access:

Permission to publish material from Confederate Currency must be obtained from Special Collections, Virginia Tech.

Preferred citation:

Researchers wishing to cite this collection should include the following information: Confederate Currency, Ms2011-035, Special Collections, Virginia Polytechnic Institute and State University, Blacksburg, Va.

Summary

Extent:
0.1 Cubic Feet 1 folder
Abstract:
The collection contains four $10 bills, two $50 bills, and two $100 bills. The $100 bills are stamped on the back "Issued from the Treasrs Office Richmond, Feb 10, 1863."
Language:
English .
Preferred citation:

Researchers wishing to cite this collection should include the following information: Confederate Currency, Ms2011-035, Special Collections, Virginia Polytechnic Institute and State University, Blacksburg, Va.

Background

Scope and content:

The collection contains four $10 bills, two $50 bills, and two $100 bills. The $100 bills are stamped on the back "Issued from the Treasrs Office Richmond, Feb 10, 1863."

Biographical / historical:

The Confederate States of America dollar 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. As the war 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. Most Confederate currency carried the phrase across the top of the bill: "TWO YEARS AFTER THE RATIFICATION OF A TREATY OF PEACE BETWEEN THE CONFEDERATE STATES AND THE UNITED STATES OF AMERICA" then across the middle, the "CONFEDERATE STATES OF AMERICA will pay" [the amount of the bill] "to BEARER." As the war progressed, the currency underwent the depreciation and soaring prices characteristic of inflation. For example, by the end of the war, a cake of soap could sell for as much as $50 and an ordinary suit of clothes was $2,700. Near the end of the war, the currency became practically worthless as a medium of exchange. When the Confederacy ceased to exist as a political entity at the end of the war, the money lost all value as flat currency.

Acquisition information:
Confederate Currency donated to Special Collections in 2010.
Processing information:

The processing, arrangement, and description of the Confederate Currency was completed in March 2011.