$10 1864 T-68 CONFEDERATE STATES of AMERICA PCGS 30 HISTORIC

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$10 1864 T-68 CONFEDERATE STATES of AMERICA PCGS 30 HISTORIC:
$43.00

A wonderful certified quality problem free CSA rarity. Truly beautiful, and a significant financial relic. Hold genuine civil war history in your hand. You\'ll feel even better about your purchase someday when prices explode.

The Confederate States of America dollar was first issued into circulation in April 1861, when theConfederacywas only two months old, and on the eve of the outbreak of theCivil War.

At first, Confederate currency was accepted throughout theSouthas 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. The inevitable result was depreciation of the currency, and soaring prices characteristic ofinflation. 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 asfiat currency.

Designs

The South, being limited in skilledengraversandprintersas well as secure printing facilities, often had to make do with unrelated designs in early banknote issues. Some such were abstract depictions of mythologicalgods and goddesses. Southern themes did prevail with designs of black slaves,naval ships, and historical figures, includingGeorge Washington. Images of slaves often had them depicted as smiling or happily carrying about their work.John Joneshas recreated these images as large acrylic paintings in a contemporary series called \"Confederate Currency: The Color of Money.\"

Since most of the engravers and bank plates were in the North, Southern printers had to lift by offset or lithographic process scenes that had been used on whatever notes they had access to. Many variations in plates, printing and papers also appear in most of the issues, due in large part to the limits on commerce resulting from the Union embargo of Confederate ports.

Slaves working in the field. From a $100 banknote.

Later note issues pictured notable Southern politicians, military leaders, and citizens. Some Southerners who appeared on CSA currency includedJefferson Davis,Alexander Stephens,Lucy Pickens,George Randolph,R. M. T. Hunter, andStonewall Jackson.

Signatures

C.S.A. notes were hand signed by Matthew Sampson, with exception of the 50 cent issues that had the printed signatures ofRobert TylerandEdward C. Elmore. The first six notes issued were hand signed by the Register andTreasurerthemselves. While hand signatures were considered an anti-counterfeiting tool, the sheer number of bills being produced could not reasonably be signed individually by two men each. Women were often hired as clerks to sign \"for Register\" and \"for Treasurer\"; up to 200 clerks were eventually hired for each.

Coinage

As the Civil War continued, the cost of the war loomed large. Anyprecious metalsavailable in the South often made their way toEuropeto procure war goods. But the CSA did manage to mint a fewcoins. In 1861, Mr. Robert Lovett Jr. ofPhiladelphiawas commissioned to design, engrave, and make aone centpiece for the Confederacy. On theobverse(front), he used the head ofMinerva(French Liberty Head), which he had used on several store cards. The coins were struck using the then Federal standard ofcupronickelfor cent pieces. He made a few samples, of which only 12 are said to exist by the popular stories but research has shown that 14 are currently known to exist. Fearing prosecution for aiding the enemy, he stopped his work, and hid the coins anddiesin his cellar. The original dies were purchased later and used to make restrikes, first by John W. Haseltine and later by Robert S. Bashlow. The dies were donated to theSmithsonian Institutionby Bashlow in 1962.

In late April of 1861, four Confederatehalf dollarswere struck on a hand press by certain employees of theNew Orleans Mint. Because of thehigh reliefof thecoin die, a test striking was made to see if coins would release from the Confederate die. The die was made by aprinting plateengraver (A.H.M. Peterson) inNew Orleanswho was unfamiliar with techniques required to engrave coining dies. These coins were struck using a U.S. obverse die (Seated Liberty) and the Confederate die made by Peterson. These coins are known as originals, and the location of all four of the coins is known today.

A Confederate Half Dollar struck at New Orleans in 1861.

As the result of an 1879 article about the Confederate cent printed in aNew York Citynewspaper, Benjamin F. Taylor, M.D. (Chief Coiner, New Orleans Mint, CSA) contacted coin dealer Ebenezer Mason. Taylor informed Mason of the existence of the Confederate half dollar and the die. Mason bought the die and coin from Taylor and sold them to J.W. Scott Co. of New York City, a coin and stamp dealer. Scott bought 500 1861United States half dollarsfrom a New York bank that were supposedly struck at the New Orleans Mint. Scott had the reverse of the half dollars planed down and performed a one-sided strike using the Confederate half dollar die. The Seated Liberty obverse of the coins were flattened some because of the one-sided strike. In addition, Scott struck 500 half dollar sized tokens in a white metal using the Confederate die and a newly made die to commemorate the restrikes of the Confederate half dollars. The Confederate half dollar die went missing during the 1920s and has not been seen since.

Popular stories claim one of the Confederate half dollars was given to Confederate PresidentJefferson Davis. This story has no basis in fact. In an 1879 letter to Ebenezer Mason, Davis confirmed that aUnion soldier(actually a Federal Officer) stole a coin from one of his wife’s trunks, but could not confirm that it was like the then known Confederate half dollar. It is very possible that the coin was agoldso-called Jefferson Davisdimestruck at the Paris (France) Mint, which Davis described to coin dealer Ed Frossard in an 1880 letter. All known Jefferson Davis dimes were struck insilverat theParis Mint. The Davis letter is the only known reference to a gold specimen, which was likely a special presentation piece made for Davis.

Banknotes

Banknoteswere ultimately issued in $1/10, $½, $1, $2, $5, $10, $20, $50, $100, $500, and $1,000 denominations with a variety of designs, issuers and redeemable obligations. The amount ofcurrencyissued under the various acts of theConfederate Congresstotaled $1.7 billion. Bills were released in 72 different note \"types\" in seven \"series\" from 1861 through 1864.

Since there were many types of Confederate notes as well asnotes issued by the statesof the Confederacy, and sincebankscould issue their own notes,counterfeitingwas a major problem for the Confederacy. Many of these contemporary counterfeits are identifiable today and they can be as valuable to a collector as a real note.

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