50 Cents

The Confederate Treasury's fractional notes were a direct response to the disappearance of small coinage from circulation — hoarded by a public that had already lost faith in paper. By 1863, even copper cents had vanished from everyday commerce across the South, forcing the Richmond government to paper over the gap with denominations no self-respecting central bank would otherwise issue.

Tyler and Elmore signed as Register and Treasurer respectively, their names lithographed rather than hand-signed — the sheer volume of notes required made individual signing impossible. Genuine hand-signed examples of this series exist but are uncommon.