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40 Dollars Confederate Loan
| Issuer | Confederate States of America |
|---|---|
| Year | 1861 |
| Type | Log in to see details |
| Value | 40 Dollars |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | C.S. LOAN of AUG.19.1861 THE CONFEDERATE STATES OF AMERICA Will pay to Bearer FORTY DOLLARS For six months Interest Due January 1, 1869. On Bond No. __________ for $500. For the Register of the Treasury [signature] |
| Reverse description | Blank reverse on thin paper; the manuscript signature from the obverse bleeds through, visible as a mirror impression in brown ink. |
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| Comments |
The Confederate government issued interest-bearing loan certificates alongside its currency notes in 1861, partly to fund the war and partly to encourage public confidence in a financial system that lacked a proper central bank. These certificates were redeemable in Confederate bonds rather than specie, making them instruments of debt finance as much as circulation money.
The 55 × 30 mm format is exceptionally small for a bearer obligation of this denomination — considerably smaller than contemporaneous Confederate currency notes — which has led to persistent misclassification in collections.