100 Dollars

By the time Keatinge & Ball produced the 1864 series in Columbia, the Confederate Treasury was printing currency faster than the government could collect taxes, and the inflationary spiral was already irreversible. The Trans-Mississippi supply chain had collapsed, blockades had choked off foreign credit, and notes like this one were depreciating almost weekly — by early 1865, it took well over 50 Confederate dollars to buy a single US dollar on the open market.

Keatinge & Ball relocated operations from Richmond to Columbia in 1862 specifically to reduce vulnerability to Union advances, though Columbia itself was burned by Sherman's forces in February 1865, destroying much of the firm's remaining stock and equipment.