For sale is a rare 1861 ONE DOLLAR CURRENCY NOTE from the State of North Carolina. This obsolete civil war era currency is in excellent condition with a bit of edge damage. The left side of the note features an illustration of Minerva, the Roman goddess of wisdom. The text on the note reads: “The State of North Carolina will pay to bearer one dollar at the Treasury on or before January 1st, 1866. The hand signed note is serial number 2233. Note measures about 5 3/8 inches by 2 3/8 inches. A great historic collectible.
To pay for the war, the Confederate government issued a vast array of paper currencies. Making things even more confusing, state governments issued their own currencies — as did banks, insurance companies, and businesses. None of this paper money could be redeemed, or traded for, gold or silver — as was common in the early nineteenth century. The Confederate government had no gold or silver to make coins. Instead, Confederate paper money was like a loan — a promissory note or promise to pay at a later time. At the start of the war, when southerners expected to win the war, they were willing to trust that their paper dollars would continue to hold value. But as the South started to slide towards defeat, they lost faith in not only their chances of victory but their money as well.