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What was Confederate money backed by?

What was Confederate money backed by?

In contrast to the U.S. dollar (USD), the Confederate dollar had no underlying backing nor was it pegged to any other tangible asset, such as gold. Instead, the money was a promissory note of credit, which promised the bearer compensation six months after the end of the war.

How much is a Confederate $5 note worth?

Most Confederate currency bills are worth between $5 and $20 each. Condition is a big issue. If Confederate bills are very crisp and have not been folded or circulated, they can be worth $10 to $100 each.

How much is a 1863 Confederate $5 bill worth?

1863 Confederate 5-dollar bill value can range anywhere from 10 to 200 dollars. An 1864 Confederate five-dollar bill value can also be anywhere within the same range. The price a banknote can claim is dependent on how good its condition is.

What was the main economy of the Confederacy?

The Confederate States of America (1861-1865) started with an agrarian-based economy that relied heavily on slave-worked plantations for the production of cotton for export to Europe and to the northern US.

Who appears on the $5 bill of the Confederate States of America?

Confederate Currency, Confederate States of America, Five Dollars, 1864 – The Henry Ford.

Does Confederate money hold any value?

Today, though, Confederate dollars have value as a collectible item. Just like people will pay money to own a Civil War hat or musket, they will pay money to own Confederate money. Some rare Confederate bills are now worth 10 times more than they were in 1861.

Why is there a Confederate on the 5 dollar bill?

New Listing Confederate States of America $5 Banknote Richmond VA Reproduction UNC. Most Confederate currency carried the phrase across the top of the bill This was because Confederate currency werebills of credit, as in the Revolutionary War, not secured or backed by any assets.

Who is on the Confederate dollar bill?

At the center is a picture of Virginia State Capitol which was the capital of the Confederacy during the American Civil War (Wiki). Most confederate paper money pictured someone on their bills. Christopher Memminger, pictured at the bottom right corner of each bill, was a politician during the American Civil War (Wiki).

What kind of money is a 1864 5 dollar bill?

Civil War Confederate 1864 5 Dollar Bill Richmond Virginia Paper Money Currency. It is from Richmond Virginia. The note has wear and stain marks, there are tears and pieces missing.

What was the capital of the Confederacy during the Civil War?

At the center is a picture of Virginia State Capitol which was the capital of the Confederacy during the American Civil War (Wiki). Most confederate paper money pictured someone on their bills.