10 Dollars

By 1864, the Confederate currency system was in terminal decline. Inflation had become so severe that the Richmond government attempted a compulsory currency reform in February of that year — holders were forced to exchange older notes at a discount or convert them into bonds, effectively wiping out a portion of the circulating debt. The P#68 series was among the replacement issues produced after that reform, though hyperinflation rendered the gesture largely meaningless within months.

Keatinge & Ball had relocated from Richmond to Columbia, South Carolina, in 1862 under pressure from Union advances. Columbia itself was burned in February 1865 during Sherman's march, destroying much of the firm's remaining stock and equipment.