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50 Dollars

Issuer Confederate States of America
Year 1864
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Printer Keatinge & Ball, Columbia, S.C.
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Reverse description Plain reverse with an intricate guilloche lathe-work pattern in the center, a large '50' numeral at centre, and '50' enclosed in circular guilloche rosettes at each of the four corners.
Reverse lettering FIFTY
FIFTY
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Comments

By 1864, the Confederate monetary system was in freefall. This note was issued as Richmond struggled with inflation running into the hundreds of percent annually — a direct consequence of financing the war almost entirely through paper emissions rather than taxation or meaningful specie backing. Congress passed the Currency Reform Act of February 1864 specifically to address the glut, forcibly funding older notes into bonds at a discount, but the restructuring did little to restore public confidence.

Keatinge & Ball had relocated to Columbia after Federal pressure on Richmond made supply lines increasingly unreliable. The Columbia facility was destroyed in February 1865 when Sherman's army burned the city, cutting off the Confederacy's primary remaining printing capacity entirely.

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