For sale is an original 1862 $1 MISSOURI DOLLAR BANK NOTE. This uncirculated obsolete Red “ONE” bank note is from Jefferson City, Missouri. This rare hand signed civil war era note has serial number 86926. This State issue variety imprinted ‘A. Malus Eng. N.O” features Confederate President Jefferson Davis at the top center flanked by battle flags and cannons. The note has a large Box-Serif “ONE” in red at lower center. Note is in excellent condition but has a small tear at the center bottom edge. Due to the lack of paper, the bank printed these notes on the backs of New Orleans Checks. Note measures about 5 7/8 inches by 3 inches. A great museum worthy Americana collectible.
This style note is catalogued as “Criswell 13” in the “Confederate and Southern States Currency” and “North American Currency” books. The Grover Criswell numbering system for currency was based on the work of William Bradbeer and is still widely used today.
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.