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20 Dollars - Confederate States Loan
| Issuer | Confederate States of America |
|---|---|
| Year | 1865 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
| Size | 78 x 46 mm |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | C.S. LOAN. FEBY. 20. 1863 THE CONFEDERATE STATES OF AMERICA WILL PAY TO BEARER $20 TWENTY DOLLARS For Six Months Interest Due July 1st 1865 On Bond No ___________ for $500 For Register of the Treasury |
| Reverse description | Plain unprinted reverse showing bleed-through offset impression of the obverse design in grey, with the text and numerals appearing as a mirror image. No additional design elements are present. |
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| Comments |
The 1865 Confederate loan issues occupy a peculiar corner of American monetary history. By the time these notes were printed, the Confederate dollar had collapsed to a fraction of its nominal value — inflation had been so severe that earlier legislative attempts to force conversion of outstanding notes into bonds had only accelerated public distrust. Notes dated 1865 were authorized under the Act of 17 February 1864, which effectively forced holders to convert older issues or accept steep discounts.
Many 1865-dated notes never reached active circulation before Appomattox. Survivors are common precisely because they were worthless before anyone spent them.