5 Dollars

By 1863, the Confederacy's printing operations were a patchwork of competing suppliers working under increasingly strained conditions. Keatinge & Ball had relocated to Columbia, South Carolina after their Richmond facilities became untenable, and P#59 was produced across at least three different printing houses — Keatinge & Ball, J.T. Paterson & Co., and Evans & Cogswell — resulting in noticeable variation between specimens in ink density and paper stock.

The Confederate dollar was losing purchasing power rapidly by the time these notes entered circulation. The Currency Reform Act of February 1864 would soon invalidate older issues at a punishing exchange rate, driving holders to spend whatever they had — which pushed late-series notes like this one into hard use fast.