For sale is an original 1866 $1 DOLLAR BANK NOTE from the State of North Carolina. This civil war era note has a vertical “ONE DOLLAR” print on the right edge and in the middle of the note. At the center of the banknote is an illustration of a sailing ship and on the left–a portrait of Minerva, the Roman goddess of wisdom. At the bottom right, the note is hand signed by Henry Hardie, the State Treasurer. The note’s serial number is 21110. The text on the note states “Will Pay to Bearer One Dollar at the Treasury On or Before January 1st, 1866”. This note would have been issued between 1861 and 1863. This note is in fair condition but well worn and crumpled on the left edge. Note measures about 5 inches by 2 1/4 inches. A great museum worthy Americana 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.