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5 Dollars

Issuer Confederate States of America
Year 1861
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Size 180 × 78 mm
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Protection type Watermark
Protection description No watermark or security features; printed on low-quality plain paper stock typical of Confederate currency production during the Civil War period.
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Comments

Hoyer & Ludwig were a Richmond lithography firm pressed into Confederate currency production almost by default — the South had no established banknote printers and was improvising its monetary infrastructure from scratch in 1861. The quality reflects that urgency. Lithography rather than intaglio engraving meant these notes were easier to counterfeit than their Union counterparts, a problem the Confederate Treasury acknowledged but couldn't immediately solve.

The watermark was among the few security measures available to a government cut off from the specialized paper mills of the North and Europe. Southern paper supply deteriorated sharply as the war continued, making the relatively consistent stock of 1861 issues a distinguishing feature of the early series.

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