Sold For $125
*Includes Buyers Premium
Confederate States of America 50-dollar banknote, 7.25 x 3.25, with the front featuring a central portrait of Confederate President Jefferson Davis, with plate letter ‘Y,’ serial number ‘86928,’ and date of February 17, 1864. Mounted and framed to an overall size of 12 x 9. In very good to fine condition, with light folds and creases, and expected wear.
Per the National Museum of History: ‘Between the winter of 1860 and the spring of 1861, eleven Southern states broke away from the United States to form a new country, the Confederate States of America (CSA). As a fledgling nation, the Confederacy faced two obstacles: to create a sense of national unity and to arm its troops to wage a modern war. Money connected both issues—it would celebrate the new nation and finance the war. On March 9, 1861, the CSA authorized a national currency.
Between 1861 and 1865, the new government issued Confederate currency on eight separate occasions. Each issuance pumped millions of dollars into circulation. Counterfeiters added to the deluge with freshly made fakes. The result was a staggering amount of paper money and massive inflation. The CSA responded to the problem by recalling, cancelling, and burning old notes to remove them from circulation. The first official recall on February 17th, 1864, came after two years of less harsh—but unsuccessful—efforts to reduce the volume of currency in circulation.’
